Power distribution companies with a wide network of energy distribution and control equipment, always seek to provide stable and safe electricity supply to customers. To do so, these organizations face challenges such as network wear and tear, load fluctuations, changing climates, rapid technology growth, unbalanced allocation of skilled manpower, and lack of financial resources. Qazvin Power Distribution Company, as an equipment-based organization, aims to establish a physical asset management system with the porpus of managing the cost, risk and performance of assets during their life cycle. The first step in implementing physical asset management is to determine and recognize the current conditions of the organization. This paper evaluates the management of physical assets using the Uptime model in Qazvin Power Distribution Company. The uptime model is one of the main and most practical models for evaluating physical assets. It evaluates the management condition of physical assets in the organization using its ten criteria. In this research, the evaluation steps are described and also the results of this evaluation are analyzed, then major strategies are defined in each aspect and suggestions for improvement measures are presented. These improvement measures and projects are ultimately prioritized using the TOPSIS approach. Furthermore, based on the identified priorities and prerequisite relationships between project implementation, a roadmap is presented to implement the physical asset management system in the company. Finaly, the actions and projects envisaged in this roadmap are scheduled as an implementation plan in three phases.