Study on the Selection of Asset Management Strategies Considering the Risk of Power Asset

Failures in power facilities can cause unplanned outages, leading to significant costs and secondary impacts such as production losses, human casualties, and social disruption. Therefore, high reliability is crucial. Power facility asset management technology evaluates condition, lifespan, and risk costs over the equipment&quots lifecycle, formulating optimal maintenance and replacement strategies to maximize facility value by maintaining high reliability while minimizing costs. This paper aims to establish an optimal asset management system by selecting targets and maintenance strategies based on facility risk levels, using an extended FMEA-based RPN method. Maintenance strategies are selected through investment feasibility assessments considering design lifespan, failure impacts, and replacement costs.

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Publication Details

Journal
The Transactions of The Korean Institute of Electrical Engineers
Published
2024-08-31
DOI
https://doi.org/10.5370/kiee.2024.73.8.1396
Primary Topic
Engineering Applied Research
Type
article
Field-Weighted Citation Impact
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article

Study on the Selection of Asset Management Strategies Considering the Risk of Power Asset

Byeonghyeon An, Jae-Deok Park, Tae‐Sik Park, H.Y. Lee et al.
The Transactions of The Korean Institute of Electrical Engineers
Engineering Applied Research
article

Study on the Selection of Asset Management Strategies Considering the Risk of Power Asset

Byeonghyeon An, Jae-Deok Park, Tae‐Sik Park, H.Y. Lee, Jeong-Sik Oh, Tae-Hun Kim
article en

Abstract

Failures in power facilities can cause unplanned outages, leading to significant costs and secondary impacts such as production losses, human casualties, and social disruption. Therefore, high reliability is crucial. Power facility asset management technology evaluates condition, lifespan, and risk costs over the equipment&quots lifecycle, formulating optimal maintenance and replacement strategies to maximize facility value by maintaining high reliability while minimizing costs. This paper aims to establish an optimal asset management system by selecting targets and maintenance strategies based on facility risk levels, using an extended FMEA-based RPN method. Maintenance strategies are selected through investment feasibility assessments considering design lifespan, failure impacts, and replacement costs.

The Transactions of The Korean Institute of Electrical EngineersVol. 73(8)
Openalex Percentile: Top 83%
Engineering Applied Research
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