Upcoming Role of Condition Monitoring in Risk-Based Asset Management for the Power Sector

CATEGORY: ASSET MANAGEMENT
Upcoming Role of Condition Monitoring in Risk-Based Asset Management for the Power Sector

Type	Book Section
Author	R. P. Y. Mehairjan
Author	Q. Zhuang
URL	http://link.springer.com/chapter/10.1007/978-3-319-09507-3_75
Series	Lecture Notes in Mechanical Engineering
Pages	863-875
Date	2015
Abstract	The electrical power sector must evolve under the pressures of the energy transition, the deregulation of electricity markets and the introduction of intelligent grids. Engineers believe that technologies such as monitoring, control and diagnostic devices, can achieve this goal. Unfortunately, the contributions of these emerging technologies to business strategies remain difficult to quantify. Consequently, decisions to invest in these technologies are still taken in an ad hoc manner. Authors present risk-based management as a guiding principle for maintenance management. They show that the main challenge of managing risks with technical stimuli is to have the ability to understand the technical cause of failures, which is located at the operational level within the triple-level AM model. One method to quantitatively understand the technical cause of failures is by means of condition diagnostic and monitoring technologies. Their aim is to clarify the potential contribution of condition diagnostic and monitoring technologies to risk-based decision making for the power sector.
Book Title	Engineering Asset Management - Systems, Professional Practices and Certification