Risk-based Preventive Maintenance Planning Model Considering Intangible Risk Indices

One of the most important decisions in power systems is the optimal management of assets. Asset management in power distribution companies is mainly based on improving system reliability. Nevertheless, the concerns of distribution companies are not be limited to improving the reliability of the network. Other important criteria related to the risks that threaten their business can influence decision to plan maintenance programs, which are defined as intangible risks. These risks mainly include safety, environmental effects and company reputation. Hence, it is important to include the intangible risk index in the asset management decision-making problem, along with improving the tangible risk index (reliability index), which is not studied in research studies. In this paper, in order to achieve the application of risk management in asset management in electrical energy distribution systems, a risk-based preventive maintenance planning model is proposed from the perspective of tangible and intangible risk indices. The proposed model is applied to a sample feeder from the North Khorasan distribution network in Iran. Risk-based preventive maintenance planning for a 5-year period for the studied feeder and its impact on the company's asset management are presented. The results showed that, using the proposed model, the maintenance costs are decreased by 23 percent compared to existing methods.