Using dynamic real-time substation information to reinvent asset management

Existing applications do not satisfy asset management. Geospatial information systems (GIS), in part, perform static inventory management of power delivery assets, i.e., location of the asset and nameplate data but not dynamic performance or availability. Maintenance management systems retain the history of maintenance tasks performed on equipment and predict when new tasks should be performed but do not understand return on investment (ROI) to plan replacement. Work management systems help schedule resources to perform maintenance, replacement, or operational tasks only after they have been identified elsewhere. So in essence, true asset management is overlooked. The success of these applications should rely heavily on timely and accurate data. Real-time and historical operating data are essential for identifying and improving dynamic performance optimization, for outage management and avoidance, and for planning obsolescence and expansion. This paper addresses overlooked asset management needs of determining and improving the health, reliability, ROI, and performance of apparatus and systems, and hopes to provide a better understanding of how to consider benefits or losses the utility experiences.