Using life curves as input to quantitative risk analysis in electricity distribution system asset management

D E Nordgärd, T M Welte and J Heggset

Journal of Risk and Reliability, 2010, vol. 224, issue 2, 63-74

Abstract: Electricity distribution companies are developing asset management strategies where different aspects of risk are addressed, including also intangible risks such as safety and environmental impact. Providing methods for risk-informed decision making is hence an important task. This applies to both risk analysis methods and methods for input data acquisition and preparation. The current paper presents a procedure wherein results from life curves are used as input to a quantitative risk analysis (QRA) model, with the aim to support distribution company asset management decision making. The procedure is illustrated by a case study concerned with safety risk analysis and maintenance strategy for making medium-voltage switch disconnectors in an electricity distribution company.

Keywords: asset management; quantitative risk analysis; bow-tie model; life curves; expert judgement; probability estimates (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:risrel:v:224:y:2010:i:2:p:63-74

DOI: 10.1243/1748006XJRR287

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