In a recent presentation to the Hong Kong Institution of Engineers, Jorge Martinez (Product Manager at Siemens Smart Grid Solutions & Services) explained how transmission and distribution network operators can use data to enhance asset management strategies. The presentation was based on a Siemens paper prepared for this conference and entitled “Listen to Your Assets! Developing More Effective Asset Management Strategies.” The paper is co-authored by Mr. Peter Dunker, Mr. Juan Carlos Ledezma, Mr. Armando Ferreira and Dr. Ramón Nadira.
Asset Performance Management (APM) vastly improves reliability while cutting costs. This is why ISO 55000 (the latest international standard for infrastructure asset management) recognizes and recommends APM. Siemens Network Services practices APM every day.
Studies have shown that a large percentage of power outages are predictable, and therefore preventable with appropriately timed interventions (such as regular or emergency maintenance, refurbishment or retrofit, or replacement). This represents a tremendous opportunity for asset owners and operators.
Listening to your assets involves capturing, processing, analyzing and ultimately acting upon information about grid assets — as well as about how your assets are functioning as part of your overall system.
Data-enhanced asset management strategies can help utilities address key challenges such as:
Key steps in listening to your assets:
1. Shift the basis of maintenance planning. The next stage in the evolution of asset management involves two practices: Condition Based Maintenance (CBM) and Reliability Centered Maintenance (RCM). These use the current condition of assets (monitored in near-real time) to determine which interventions might be required — before equipment failure and possible service outages occur. To make this shift, utilities must develop a condition index (sometimes called a health index) — a numerical representation of the estimated condition of a given asset. This metric is highly customized; it must precisely suit every asset type used by a particular system or utility.
2. Rate the importance of specific assets. This involves developing indices to measure importance and criticality/risk. These indices must then be considered in context. For instance, the importance index for a specific asset can be integrated with that asset’s condition index. This can yield actionable recommendations for that asset.
An asset’s risk index is the sum of all the consequences of potential/future outages, usually expressed in monetary terms. Often, the risk index is linked to a failure rate (or frequency), which may be affected by that asset’s condition index.