Asset Health Risk Model

2016 Global Innovation Project

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Jeroen Schuddebeurs Jeroen Schuddebeurs
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Asset Health Risk Model

Transmission and distribution system operators (TSOs and DNOs) are under increased pressure to spend the limited budget available to them on the assets with the highest risks on jeopardizing the business values for utilities. These business values include customer minutes lost (CML) and costs of asset maintenance and investment.

Developed specifically for energy utilities, Cascade is a software tool for technical asset management and predictive maintenance to minimize the risk of failure and maximize equipment lifetimes in the most cost-effective way. The Asset Health Risk Model (AHRM) concept currently exists in a MS-Excel based tool, which quantitatively determines the health of an asset. This innovation project brings together the strengths of these tools, combining technical assessments with ever changing business requirements. Both tools can handle all kinds and types of equipment, ultimately suitable for transmission and distribution system operators with assets from different original equipment manufacturers (OEMs). The development of an enterprise version of AHRM, called Foresight, can be used in combination with Cascade but can also be used as standalone tool without the need of using Cascade. The Foresight module will mean a huge step forward for utilities in performing risk based management (RBM).

Both Cascade and the AHRM concept have proven their scientific and application value in the energy utility asset management market across the world. The integration of both tools expands asset management capabilities and still using one manufacturer independent tool, under one license and one user interface.