Classification, domains and risk assessment in asset management: A literature study

Abstract

Abstract-This paper presents a literature study on asset management in electrical power transmission and distribution system. Due to restructure and deregulation of electric power industry in recent times, the focus has been on transmission and distribution assets that include transmission lines, transformers, power plants, substations and support structures. The study aims to provide a first of its kind exposure to asset management classification, various interesting maintenance methods and theories developed in last two decades. In the end, it also discusses various risk assessment techniques in asset management developed and used for academic research and industries.Index Terms--Bibliography review, asset management, mid-term transmission planning, maintenance planning, risk assessment.

Advanced distribution transformer asset management embracing its relocation: A cost saving approach

“…If a DT fails during its operation, "corrective maintenance costs" will be involved (fourth term in ( 6)); which include: purchasing a new DT and substituting the new one for the failed one [13]. Extra cost for a new DT procurement, with a capacity equal to the failed one, is considered as the expected cost of failure at substation number i in (8).…”

“…Decision-making and development tasks can be classified into three subgroups, in terms of time-scales of interest [8], [9]:…”

Efficient Asset Management Practices for Power Systems Using Expert Systems

“…• Requirement level to be met or minimum performance requirement • Operational safety risks to be assumed With a large amount of information currently available from assets, it is critical that standalone or semi-autonomous machine learning techniques should be able to extract knowledge and increase the performance or robustness of a system or process. These algorithms and techniques are vast and are also used in non-database applications-for example; such methods can directly interact with the environment to accomplish the tasks discussed above [1,2].…”

“…Histogram (count percentage) of the transformers with respect to preventive and corrective maintenance, taking into account if the lifetime was achieved(1) or not (0).…”

Economic outage scheduling of transmission line for long-term horizon under demand and wind scenarios

“…For a complete overview and updated biblical survey, refs. [2][3] can be referred to. Decomposition approach was first introduced to solve maintenance problem with the most famous benders decomposition algorithm [4].…”