A Framework For Asset Management in Electrical Systems, Part I: Conceptual Model

This document addresses a conceptual model for life cycle asset management of electrical systems within the framework of ISO 55000 standard. The objective is to assess physical electrical assets in short, medium and long term. Hence, a contingencies analysis in real-time is proposed for short term assessment. For medium term, the aim is to estimate the health condition and the criticality for ranking the assets maintenance by the risk index. Finally, in long term, the proposal seeks to estimate both the remaining life and the performance index for critical assets, in order to prioritize their replacement. With these indexes and with the help of risk and opportunity matrices, it is expected to optimize the operation, maintenance and investment plans of the assets, ensuring a balance between the performance of the assets, their risk and the associated costs.