Electric Power Substations Engineering, 3rd Edition

19

Substation Asset Management

H. Lee Willis

Quanta Technology

Richard E. Brown

Quanta Technology

19.1    Business-Driven Approach

Asset Management Framework • Coordinated Cross-Functional Decision Making

19.2    Important Functional Elements of Asset Management

Portfolio Management of Projects and Resources • Evaluation of Projects Based on Multi-KPI Contributions • Prioritization Based on Total KPI Contribution • Probabilistic Risk Management • Managing an Aging Infrastructure to a Sustainable Point

19.3    Asset Management in an Electric Utility

Shift from Standards-Driven to Business-Based Management • Pareto Curves and the Efficient Frontier • Use of Risk-Based Asset Management Methods

19.4    Asset Management Project and Process Example ...