April 5, 2018

Column: Transformer lifecycle

Transformer health and risk indexing   Abstract Modern asset management systems make use of risk based decision methodologies. This means that not only the frequency...

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Transformer health and risk indexing

 

Abstract

Modern asset management systems make use of risk based decision methodologies. This means that not only the frequency or the consequence of an event is regarded, but also the product of both. In order to transform operational and maintenance data into decision information that supports the asset manager in taking well-substantiated decisions, use is made of health and risk indexing methods. A health index is used to represent the condition or health of an asset; a risk index is used to represent the associated risk of a failing or defective asset. Several methodologies are in use to perform health and risk indexing. In this contribution, we will discuss the features and requirements of such methods. In particular, we will discuss some of the key challenges faced when developing and implementing health and risk indexing in asset management decision making.

Keywords: health index, risk index, asset management

1. Introduction

In a society, which has become increasingly dependent on electrical energy, we more than ever rely on the reliability of power supply. Power outages may cause major disruptions in both economical activities and social life, let alone lead to unsafe situations and financial losses. On the other hand, grid operators are urged to make effective use of investments and budgets available to ensure a reliable grid.

At the same time, modern technology provides a wealth of data through monitoring and digitization. This provides both a challenge and an opportunity, the challenge being to manage the huge amount of data produced and the opportunity being to employ this data for well-informed decision making.

In order to transform data into decision information, we may make use of health indexing methods or, one step further, health and risk indexing methods. Here a health index is used to represent the condition or health of an asset, while a risk index is used to represent the associated risk, and the system is used to provide the grid operator with a dashboard representing the required actions and priorities. Often, this is an integral part of the risk management system that companies use to meet the asset management requirements stipulated by modern standards such as, for example, the Asset Management standard ISO 55000 [1, 2].

Several methodologies are in use to perform health and risk indexing. In this contribution we will discuss the features and requirements of such methods. In particular, we will discuss some of the key challenges faced when developing and implementing health and risk indexing in asset management decision making.

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