Sustainable distribution system asset management: Risk mitigation through control point management

Abstract

Asset management may be able to capture savings of 20‐30% of life‐cycle costs over time; however, for a large organization, the cultural and procedural changes required for full implementation will not occur for four to seven years. A phased risk mitigation method of control point, information, and pipeline management is a quicker and more economic approach. Utilities have emphasized determining the probability of pipe failure in order to predict the timing of replacement activities and reprioritize capital project plans by focusing on the uncontrollable part of their system (i.e., static assets, pipes). A control point management phased approach focuses on reducing costs by minimizing the consequences of pipe failure, economically assesses the condition of related pipes, and integrates control point information required to create a more practical and cost‐effective prioritization plan.