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Time management for assets: chronological strategies for power system asset management

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2 Author(s)
Shahidehpour, M. ; Dept. of Electr. & Comput. Eng., Illinois Inst. of Technol., Chicago, IL, USA ; Ferrero, R.

This paper discusses how the coordination of time scales for asset management plays a critical role in strategic decisions. It categorizes asset management based on possible time scales: real-time asset management; short-term asset management; midterm asset management; and long-term asset management. The paper asserts that the realization of chronological asset management in the field could lead to the better operation and management of power systems in a competitive era.

Published in:

Power and Energy Magazine, IEEE  (Volume:3 ,  Issue: 3 )