Summary and Outlook for the Future

Abstract

Changes over the past two decades have had a profound affect on the development of asset management. Asset management continues to be a “work in progress”; it is not well defined and asset management methods are still in the early stages of development. Unlike other CIGRE Green Book topics that primarily deal with mature technologies such as overhead lines, underground cables, or transformers for which design standards have been in place for many decades, asset management methods have not been documented in any IEC standard. This Green Book is the first comprehensive attempt to document asset management methods in detail at a practical level. Consistent with the scope of Study Committee C1, this book facilitates collaboration and blending of the engineering and technical aspects of asset management and the financial considerations needed to support asset investment decisions using risk-based business case analysis. Twelve detailed case studies are included in Part 2 to illustrate in detail the generic and specific or customized asset management methods used by samples from several utilities. As well the book includes detailed description of asset management analytical methods that are emerging or in development. While the methods documented in this book describe the current state of the practice and emerging methods, they also point to the need for utilities, businesses, and academics to develop better methods to value risk and to facilitate smarter and more profitable business investment decisions.