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Asset Management & CBM

“Minimization of the service life cycle cost is achieved for the key Assets in system by implementing the concept of Asset Management policy”

Asset Management

Minimization of the service life cycle cost is achieved for the key Assets in system by implementing the concept of Asset Management policy (AMP). In order to classify equipment and integrated assets based on type, risk or critical service applications AMP is implemented in any system. 

LA is offering services to clients with a vision to provide customized comprehensive asset management solutions and sharing best practices on asset management issues as experienced by our clients.

Our Asset Management Policy (AMP) is focused on, how electrical utilities and industries should manage their assets and investment in electrical distribution and transmission networks. This help us to set realistic targets and achieve strategic goals in AMP. 

Substation Asset Risk Assessment is necessary to fully implement condition and risk-based asset management strategies in line with AMP latest standard PAS 55.  

Benefit of Asset Management Policy (AMP)

  • Identifying the best timing to replace a critical assets & avoids equipment failure by providing early detection of degradation.
  • Assist management to formulate a structured maintenance plan according to available resources and budget constrain.
  • Analyze the life cycle of critical equipment & assess the risk for keeping an asset till end of life cycle
  • Increases the asset availability by reducing the probability of failure to near zero by reducing significantly emergency repair cost related to reactive maintenance.
  • Minimizes the inventory cost keeping unnecessary spare parts and allowing risk management based inventory stock.
  • Implement a continuous improvement in future equipment specifications and application to maximize asset utilization based on continuous monitoring of performance and failure experiences.

Equipment is generally designed for a certain economic service life and is dependent on operating environmental stress, effective maintenance program and the quality during manufacturing including proper installation. After, this estimated service life period equipment is not expected to provide operational reliability.

‘Condition Based Risk Management’s (CBRM) greatest strength is that it enables users to make more intelligent business decisions on the management of power plant and equipment. It is ultimately a financial planning and a network performance tool.’

Method we propose for Health Index (HI) is more detailed method and this pattern is adopted by leading utilities for 40 years old transformer of transmission unit. This approach is more practical as we can see the transformer condition on component level from maintenance point of view. Also it is easy to compare with sister unit and create a FEMA tree as TF has so many active accessories which are linked to its reliability and life assessment. It is not simple to evaluate life and reliability on the basis of paper aging.

Worldwide Major work in HI is done in MV TF which is different from HV and EHV class transformer and here we have an edge or benefit over other consultant with respect to skill and experience. 

LA has worked with Utility in Power & Distribution sector on developing CBRM models for a range of asset groups. The models are however not integrated with each other, this result in high levels of expertise and provide consistent reporting of CBRM Health Indices and ageing & it has been divided into a number of stages: 

  • CBRM for Transformers 
  • CBRM for  HV & MV switchgears
  • CBRM for Cables

Asset Management Standard 

An asset management is all about achieving the appropriate balance between cost, risk and performance by reviewing the complete asset life cycle including design review, operating issues, maintenance cycle of critical assets that contribute to overall system performance. To undertake the asset review, we are applying Publicly Available Specification 55 (PAS 55). 

First published in 2004 and revised in 2008, PAS 55 provides clear definitions and a requirements specification for establishing and verifying a comprehensive, optimized management system for all types of physical assets throughout their life cycle. Similar in approach to the ISO 9000 series specifications, PAS 55 is non-prescriptive and outcome based; it describes what to do, not how to do it.

PAS 55 is used by many organizations worldwide. National Grid was one company to lead the way in development and implementation of PAS 55. It is used by a number of utilities in the United Kingdom including all the electricity and gas network utilities, and a growing number in Europe, the Middle East, Asia and the Americas. Energy industry examples include TRANSCO in Abu Dhabi, CLP Power in Hong Kong, BC Hydro and Hydro One in Canada.

PAS 55 provides a clear, internationally recognized definition of what good practice asset management means for any organization. It is currently being developed into ISO standard 55000 with some 22 countries (including the United States) engaging in the process. PAS 55 also makes clearer connections between strategic organizational plans and the actual day-to-day work and asset realities.

  • Our focus is to provide results that could be used to manage transformer-related risks now, as well as providing a road map for asset management process improvement in the future.
  • Our consultants can advise and help as you implement the organizational, process and other changes that may be needed to become compliant. 
  • Expert worked with utility’s internal team to review failure from a technical point of view. Together, they develop recommendations that led to the application of best practices as defined by PAS 55.

The standard is split into two parts:

  • Part 1 – Specification for the optimized management of physical infrastructure assets 
  • Part 2 – Guidelines for the application of PAS 55-1 

The standard is based on a Plan-Do-Check-Act (PDCA) methodology and using a life-cycle view, PAS 55 incorporates the optimal mixture of capital investments, operations, maintenance, resourcing, risks performance and sustainability.

The PAS 55 approach to whole-life asset management is based on the widely used plan-do-check-act (PDCA) cycle for continuous improvement. The components of the PDCA cycle can be directly applied to asset management by PAS 55. Key elements that drive the asset management PDCA cycle include:

  • An asset management policy to provide direction on how to manage physical assets in line with the organization’s goals and objectives.
  • Asset management strategy, objectives and plans. This enables preemptive defect detection.
  • Asset management enablers. This is the organizational structure of roles, responsibilities and authorities that aligns with the asset management policy, strategy, etc. This is essential because accountable people, not policies, bring about sound asset management.

FMEA is one the process to in complete asset management planning study. It involves reviewing components, assemblies, and subsystems failure, malfunction to identify failure modes, and their causes and effects. For each component, the failure modes and their resulting effects on the rest of the system are recorded in a specific FMEA worksheet. An FMEA is mainly a qualitative analysis. 

  • Understand the asset base & the failure modes that might affect the individual asset.
  • Identify leading indicators of incipient failure.
  • Undertake the FMEA analysis & prepare a plan to tackle reduce/eliminate Failure.
  • Complete the FMEA document and plan the review
  • The benefits really prove the importance of FMEA in new product design and development as a tool to eliminate or to reduce risk.

A successful FMEA activity helps to identify potential failure modes based on experience with similar products and processes & root cause analysis of failure.