The impact of evolving smart grids on network asset management

2011 ◽  
Author(s):  
C. Ross ◽  
G.J. Eastwood ◽  
L.J. Malloy
Keyword(s):  
Asset Management ◽  
Smart Grids ◽  
The Impact

scholarly journals Classical Failure Modes and Effects Analysis in the Context of Smart Grid Cyber-Physical Systems

Energies ◽  
2020 ◽  
Vol 13 (5) ◽  
pp. 1215
Author(s):  
Andrés A. Zúñiga ◽  
Alexandre Baleia ◽  
João Fernandes ◽  
Paulo Jose Da Costa Branco
Keyword(s):  
Smart Grid ◽  
Information And Communication Technologies ◽  
Asset Management ◽  
Smart Grids ◽  
Distribution Systems ◽  
Failure Modes ◽  
Cyber Physical Systems ◽  
Test System ◽  
Physical Systems ◽  
The Impact

Reliability assessment in traditional power distribution systems has played a key role in power system planning, design, and operation. Recently, new information and communication technologies have been introduced in power systems automation and asset management, making the distribution network even more complex. In order to achieve efficient energy management, the distribution grid has to adopt a new configuration and operational conditions that are changing the paradigm of the actual electrical system. Therefore, the emergence of the cyber-physical systems concept to face future energetic needs requires alternative approaches for evaluating the reliability of modern distribution systems, especially in the smart grids environment. In this paper, a reliability approach that makes use of failure modes of power and cyber network main components is proposed to evaluate risk analysis in smart electrical distribution systems. We introduce the application of Failure Modes and Effects Analysis (FMEA) method in future smart grid systems in order to establish the impact of different failure modes on their performance. A smart grid test system is defined and failure modes and their effects for both power and the cyber components are presented. Preventive maintenance tasks are proposed and systematized to minimize the impact of high-risk failures and increase reliability.

scholarly journals Classical Failure Modes and Effects Analysis in the Context of Smart Grid Cyber-Physical Systems

2020 ◽  
Author(s):  
Andrés A. Zúñiga ◽  
Alexandre Baleia ◽  
João Fernandes ◽  
Paulo Jose Da Costa Branco
Keyword(s):  
Smart Grid ◽  
Information And Communication Technologies ◽  
Asset Management ◽  
Smart Grids ◽  
Distribution Systems ◽  
Failure Modes ◽  
Cyber Physical Systems ◽  
Test System ◽  
Physical Systems ◽  
The Impact

Reliability assessment in traditional power distribution systems has played a key role in power system planning, design, and operation. Recently, new information and communication technologies have been introduced in power systems automation and asset management, making the distribution network even more complex. In order to achieve efficient energy management, the distribution grid has to adopt a new configuration and operational conditions that are changing the paradigm of the actual electrical system. Therefore, the emergence of the cyber-physical systems concept to face future energetic needs requires alternative approaches for evaluating the reliability of modern distribution systems, especially in the smart grids environment. In this paper, a reliability approach that makes use of failure modes of power and cyber network main components is proposed to evaluate risk analysis in smart electrical distribution systems. We introduce the application of Failure Modes and Effects Analysis (FMEA) method in future smart grid systems in order to establish the impact of different failure modes on their performance. A smart grid test system is defined and failure modes and their effects for both power and the cyber components are presented. Preventive maintenance tasks are proposed and systematized to minimize the impact of high-risk failures and increase reliability.

scholarly journals Assessing asset monitoring levels for maintenance operations

2015 ◽  
Vol 26 (5) ◽  
pp. 632-659 ◽  
Author(s):  
Abdullah A Alabdulkarim ◽  
Peter Ball ◽  
Ashutosh Tiwari
Keyword(s):  
Asset Management ◽  
Business Models ◽  
Discrete Event ◽  
Dynamic Modelling ◽  
Simulation Models ◽  
Content Type ◽  
Event Simulation ◽  
Product Service ◽  
Asset Monitoring ◽  
The Impact

Purpose – Asset management has recently gained significance due to emerging business models such as Product Service Systems where the sale of asset use, rather than the sale of the asset itself, is applied. This leaves the responsibility of the maintenance tasks to fall on the shoulders of the manufacturer/supplier to provide high asset availability. The use of asset monitoring assists in providing high availability but the level of monitoring and maintenance needs to be assessed for cost effectiveness. There is a lack of available tools and understanding of their value in assessing monitoring levels. The paper aims to discuss these issues. Design/methodology/approach – This research aims to develop a dynamic modelling approach using Discrete Event Simulation (DES) to assess such maintenance systems in order to provide a better understanding of the behaviour of complex maintenance operations. Interviews were conducted and literature was analysed to gather modelling requirements. Generic models were created, followed by simulation models, to examine how maintenance operation systems behave regarding different levels of asset monitoring. Findings – This research indicates that DES discerns varying levels of complexity of maintenance operations but that more sophisticated asset monitoring levels will not necessarily result in a higher asset performance. The paper shows that it is possible to assess the impact of monitoring levels as well as make other changes to system operation that may be more or less effective. Practical implications – The proposed tool supports the maintenance operations decision makers to select the appropriate asset monitoring level that suits their operational needs. Originality/value – A novel DES approach was developed to assess asset monitoring levels for maintenance operations. In applying this quantitative approach, it was demonstrated that higher asset monitoring levels do not necessarily result in higher asset availability. The work provides a means of evaluating the constraints in the system that an asset is part of rather than focusing on the asset in isolation.

scholarly journals Investigations on Quench Recovery Characteristics of High-Temperature Superconducting Coated Conductors for Superconducting Fault Current Limiters

Electronics ◽  
2021 ◽  
Vol 10 (3) ◽  
pp. 259
Author(s):  
Wei Chen ◽  
Peng Song ◽  
Hao Jiang ◽  
Jiahui Zhu ◽  
Shengnan Zou ◽  
...  
Keyword(s):  
High Temperature ◽  
Smart Grids ◽  
Recovery Time ◽  
Coated Conductors ◽  
Transfer Model ◽  
Fault Current ◽  
High Temperature Superconducting ◽  
Fault Current Limiters ◽  
Recovery Characteristic ◽  
The Impact

Superconducting fault current limiters (SFCLs) are attracting increasing attention due to their potential for use in modern smart grids or micro grids. Thanks to the unique non-linear properties of high-temperature-superconducting (HTS) tapes, an SFCL is invisible to the grid with faster response compared to traditional fault current limiters. The quench recovery characteristic of an HTS tape is fundamental for the design of an SFCL. In this work, the quench recovery time of an HTS tape was measured for fault currents of different magnitudes and durations. A global heat transfer model was developed to describe the quench recovery characteristic and compared with experiments to validate its effectiveness. Based on the model, the influence of tape properties on the quench recovery time was discussed, and a safe margin for the impact energy was proposed.

Performance of physical asset management using the analytic hierarchy process

2019 ◽  
Vol 37 (3) ◽  
pp. 327-345 ◽  
Author(s):  
Fawzeia Abdulla Al Marzooqi ◽  
Matloub Hussain ◽  
Syed Zamberi Ahmad
Keyword(s):  
Analytic Hierarchy Process ◽  
Asset Management ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Equal Importance ◽  
The Analytic Hierarchy Process ◽  
Physical Asset ◽  
The Impact ◽  
Hierarchy Process ◽  
Asset Managers

Purpose The purpose of this paper is to explore certain resources, capabilities and competencies needed to improve the performance of physical asset management (PAM). Design/methodology/approach The analytic hierarchy process (AHP) is used to select and prioritize the most appropriate factors for improving performance. A multi-criteria approach is used to analyze and compare the importance of 6 main criteria and 18 subcriteria identified from a survey of relevant literature. Findings The study revealed that not all factors are viewed as having equal importance in improving PAM performance, as three of the main factors attained greater importance among the six factors. Research limitations/implications This study explored the factors required for managing assets only within the third stage of asset lifecycle, that is, the utilization stage. It is recommended that future studies be conducted in such a way as to determine the importance of similar factors in the other stages of the asset lifecycle, or to identify new factors and add new criteria. Practical implications Knowledge of the differential impacts of the factors on the performance of PAM can impact asset managers and decision makers in their allocation of resources and focus their work on the highest-ranked rather than the lowest-ranked factors. Also, AHP used provides an effective mean for asset managers to identify priorities among decision criteria in their organization. Originality/value To date, no study has explored the impact of six combined factors on the performance of PAM. Previous studies have found that these factors each had equal importance. However, their relative ranking in practice and when they appear together have remained unrecognized.

scholarly journals Research on the Evaluation Model of a Smart Grid Development Level Based on Differentiation of Development Demand

2018 ◽  
Vol 10 (11) ◽  
pp. 4047 ◽  
Author(s):  
Jinchao Li ◽  
Tianzhi Li ◽  
Liu Han
Keyword(s):  
Smart Grid ◽  
Smart Grids ◽  
Evaluation Model ◽  
Objective Evaluation ◽  
Entropy Method ◽  
Base Layer ◽  
Regional Differentiation ◽  
Base Level ◽  
Development Level ◽  
The Impact

In order to eliminate the impact of inter-regional differentiation of development demand on the objective evaluation of the development level of smart grid, this paper establishes the evaluation model of weight modification, transmission mechanism and combination of subjective and objective weights. Firstly, the Analytic Hierarchy Process method is used to calculate the weights of evaluation indices of effect layer and then the indices of development demand are used to modify the weights of them. The association analysis and the correlation coefficient are used to establish the weights conduction coefficient between the effect level and the base level. Then the subjective weights of the indices of the base layer are calculated. The objective weights of the indices of the base layer are obtained by using the entropy method. The subjective weights of the base layer and the objective weights obtained by the entropy method are averagely calculated, and the comprehensive weights of the evaluation indices of the base layer are obtained. Then each index is scored according to the weights and index values. Finally, the model is used to quantitatively inspect the level of development of smart grid in specific regions and make a horizontal comparison, which provides a useful reference for the development of smart grids. The relevant examples verify the correctness and validity of the model.

scholarly journals The Role of Operational Risk Management in Performance of Banking Sector: A Study on Conventional & Islamic Banks of Pakistan

2018 ◽  
Vol 6 (1) ◽  
pp. 1-16
Author(s):  
Muhammad Yasran Rasheed ◽  
Asif Saeed ◽  
Ammar Ali Gull
Keyword(s):  
Financial Institutions ◽  
Asset Management ◽  
Banking Sector ◽  
Operational Risk ◽  
Risk Disclosure ◽  
Return On Equity ◽  
Equity Ratio ◽  
Ratio Spread ◽  
Operational Activities ◽  
The Impact

Operational risk has a great impact on the functions of financial institutions. As the complexity and size of firms in increasing, it also enhancing the operations risk in more harmful ways. If a firm is not able to perform its operational activities properly, then it is not possible for banks to get high profitability ratio. Firstly, the operational risk has not achieved the greater importance but with the passage of times all financial institutions have come to know that it is very important for all institutions to cover up the rate of risk in financial operations. By selecting 15 banks (Islamic & Commercial Banks) from the year 2007 to 2011 focused on the internal factors of the banks which are mostly affected by the operational risk. Regression and correlation methods are used to evaluate the impact of Return on Asset, Debt/Equity Ratio, Spread Ratio, Capital Ratio and Asset management on the Return on Equity. The empirical results are shown that the awareness regarding operations risk has greater impact on the management of operational risk. Results are also shown that the operational risk disclosure also vary among different banks.

scholarly journals The Effect of Financial and Non-Financial Factors on Firm Value

2020 ◽  
Vol 9 (2) ◽  
pp. 131-137
Author(s):  
Nuke Monika Kristi ◽  
Heri Yanto
Keyword(s):  
Firm Size ◽  
Asset Management ◽  
Environmental Performance ◽  
Firm Value ◽  
Activity Ratio ◽  
Sampling Technique ◽  
Negative Influence ◽  
Positive Direction ◽  
Financial Factors ◽  
The Impact

This study aims to explain the impact of financial and non-financial factors, namely firm size, profitability, leverage, liquidity, activity ratio, CSR disclosures and environmental performance on firm value. This research is quantitative study with causality research design. Company Performance Rating Program in Environmental Management (PROPER) participating companies whose shares are listed on the IDX during 2015-2019 were the population of this study. The purposive sampling technique was chosen to obtain the sample of 35 companies with 140 units of analysis. This research applied a multiple linear regression test on panel data collected from secondary data. The results show the firm value can be explained by firm size, profitability, and activity ratio in a positive direction. Meanwhile, the negative influence is shown by leverage and liquidity and CSR disclosure & environmental performance cannot influence the firm value significantly. Managers are expected can optimize their asset management, because firm size, profitability, and activity ratio have a positive and significant effect on firm value and be careful of using debt, because liquidity and leverage are proven to have negative effect on firm value.

IMPROVING THE ECONOMIC EFFICIENCY OF SHIPPING COMPANIES: ACCOUNTING ASPECT

2018 ◽  
Author(s):  
Svitlana Oneshko ◽  
◽  
Оlena Poіdо ◽  
Keyword(s):  
Asset Management ◽  
Pollution Prevention ◽  
Spare Parts ◽  
Internal Factors ◽  
Software Products ◽  
Equivalent Time ◽  
Ship Management ◽  
Safe Management ◽  
Software Product ◽  
The Impact

In the researched identified features of services of ship management companies and it is proved that the modern model of commercial management can effectively exist only in the presence of complex system of such tools as estimation and the account of navigation, actual calculations of results of navigation, calculation of full loading, consultation of the shortest routes for the vessel, crew hire calculation, control of accounts and cash from charterers, efficiency analysis in the form of an equivalent time charter for any required period. According to the criterion of efficiency of results of activity the systematization is carried out and the estimation of the basic external and internal factors which the company on management of courts faces is given. It is determined that the increase in investment and cash flow of the company complicates the accounting of business transactions and requires new approaches to the formation and accounting of data processing. The directions on increase of profitability of the companies on management of vessels are offered, namely: a choice of additional directions of activity (maintenance of port repair works, creation of additional specially equipped fleet); analysis of long-term charterers and selection of optimal organizational management structures, search for opportunities to maximize the strengths of companies, reduce the impact of weaknesses and threats. It is determined that an effective way to solve the identified problems in the study and increase the profitability of shipping companies is to purchase software products that provide effective management of remote production facilities, asset management and reduce the risk of local repairs and emergencies. The introduction of computerization from the standpoint of improving efficiency has the following positive consequences: minimization of management errors; increasing the efficiency of management decisions; strengthening office control over the maintenance of ships and the use of materials and spare parts; reduction of unproductive downtime of courts; optimization of ship's stocks and volumes of purchases, elimination of erroneous purchases; facilitating the certification of a shipping company in accordance with the requirements of the International Code for the Safe Management of Ships and for Pollution Prevention and in accordance with quality standards and reducing the duration of surveying of ships etc. Among the wide list of various software the software product BASSnet is allocated, its characteristics for achievement of the purpose of increase of efficiency are resulted.

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