Title :
Risk assessment based Life-Cycle-Cost model for distribution network
Author :
Zhao, Mingxin ; Liu, Sige ; Chen, Hai ; Hui, Hui
Author_Institution :
Distrib. Syst. Planning Res. Centre, China Electr. Power Res. Inst.(CEPRI), Beijing, China
Abstract :
Aiming at asset management of distribution network, this paper proposes a new Risk Assessment Based Life-Cycle-Cost (LCC) model. It includes the procedure of risk assessment, the calculation model of LCC and the method of decision-making. In the proposed new LCC model, equipment risk is taken into account. With the help of risk assessment theory, the equipment value for the whole system can be evaluated. Application of the model in an actual distribution network shows that it can evaluate the risk of equipment comprehensively and make decision-making more economical. Therefore, the technology proposed has good application prospect.
Keywords :
decision making; distribution networks; life cycle costing; power distribution economics; risk management; LCC model; decision making; distribution network; equipment risk; risk assessment theory; risk assessment-based life-cycle-cost model; Decision making; Economics; Maintenance engineering; Planning; Power systems; Risk management; Security; Life-Cycle-Cost (LCC); asset management; decision-making; distribution network; risk assessment;
Conference_Titel :
Innovative Smart Grid Technologies - Asia (ISGT Asia), 2012 IEEE
Conference_Location :
Tianjin
Print_ISBN :
978-1-4673-1221-9
DOI :
10.1109/ISGT-Asia.2012.6303211