Evaluating alternative reliability improvement proposals using the RIP method

The paper discusses the RIP (reliability improvement point) method of evaluating alternative reliability improvement proposals. The RIP method uses a single number to quantify the benefit of a reliability improvement proposal so that recommendations can be established and prioritized based on RIPs realized per dollar invested. The paper discusses both the conceptual and practical aspects of the RIP method. First of all, the paper introduces the RIP equation as a method of quantifying the benefit of a reliability proposal by independently weighting each reliability index to be considered. Second, the paper discusses how to develop an RIP equation with both mathematical and logical relationships that is based on the reliability expectations of both customers and regulatory authorities. The RIP equation can be developed to consider system-wide reliability indices as well as local reliability indices and individual customer performance. Next, the paper illustrates specific techniques that can be used within the RIP equation to weight the projected improvement of each reliability index differently so that overall reliability performance is optimized. These weighting techniques include constant weighting and functional weighting techniques. The paper then outlines a process of using the results of the RIP equation to establish and prioritize specific reliability improvement recommendations based on the net reliability benefit realized per dollar invested. This process includes sensitivity analysis and the consideration of marginal RIPs.