Abstract
This paper describes a systematic engineering risk assessment methodology for analysing the main power plant operating risks in terms of plant safety and availability.The engineering risk assessment methodology has been applied to plant procurement, operation and maintenance of individual power plants and a power plant portfolio. Detailed examples of its application to the objective management of technical risk thereby reducing the value at risk in a business, improving maintenance expenditure and reducing downtime are provided for combined cycle gas turbines, combined heat and power schemes and large coal fired plants.
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