Risk assessment based Life-Cycle-Cost model for distribution network

Aiming at asset management of distribution network, this paper proposes a new Risk Assessment Based Life-Cycle-Cost (LCC) model. It includes the procedure of risk assessment, the calculation model of LCC and the method of decision-making. In the proposed new LCC model, equipment risk is taken into account. With the help of risk assessment theory, the equipment value for the whole system can be evaluated. Application of the model in an actual distribution network shows that it can evaluate the risk of equipment comprehensively and make decision-making more economical. Therefore, the technology proposed has good application prospect.