Risk-based planner for asset management [of electric utilities]

Author

Anders, G.J. ; Endrenyi, J. ; Yung, C.

Author_Institution

Kinectrics Inc., Toronto, Ont., Canada

Volume

14

Issue

4

fYear

2001

fDate

10/1/2001 12:00:00 AM

Firstpage

20

Lastpage

26

Abstract

Faced with multiple options for reinvestment in equipment maintenance, what is the best course of action to maximize reliability at minimum cost? The combination of engineering and financial analyses requires complex mathematical modeling; however, the software must be user-friendly to make the operation of the model simple. With this in mind, substantial effort has been put in developing a suitable decision-support tool to address the question of option selection. This article features the program called Risk-Based Asset Management (RiBAM) and its application in the reinvestment decision-making process

Keywords

decision support systems; electricity supply industry; maintenance engineering; power system reliability; risk management; software packages; RiBAM software; asset management; decision-support tool; electric utilities; equipment maintenance reinvestment; mathematical modeling; option selection; reinvestment decision-making process; reliability; risk-based asset management; user-friendly; Aging; Asset management; Automotive engineering; Constraint optimization; Costs; Decision making; Delay; Maintenance; Reliability engineering; Timing;

fLanguage

English

Journal_Title

Computer Applications in Power, IEEE

Publisher

ieee

ISSN

0895-0156

Type

jour

DOI

10.1109/67.954523

Filename

954523