Worth Evaluation Research Articles

Reliability worth assessments of electrical distribution networks

Reliability evaluation techniques have reached a stage at which they can be applied to real systems in a very effective and efficient manner. However, the economic impact of system reliability, or more specifically system unreliability, on users and customers is not so readily available. In order to achieve this, there is a need to know customer and user outage costs and their evaluation of reliability worth. During the past 5 years, major surveys of domestic, commercial and industrial customers have taken place in the UK in order to provide this information. These outage costs can then be used as input data to cost implications and worth assessments of system planning and operational decisions. This paper first reviews these outage cost data and secondly describes how this information can be used in system planning considerations. Although this paper deals with the electricity supply industry, the concepts are equally applicable to all types of systems.

Including Geological Uncertainty and Economic Analysis in a Rapid Simulation of Hydrocarbon Exploration

Manly's approximation method has been applied to hydrocarbon discovery process modeling in order to approximate the expected value and the standard deviation of the total discovery volume for a given exploratory effort. A major benefit of this method is that it allows the model to run much faster than the regular simulation method, yet it gives accurate results. This paper extends the benefit of Manly's approach by allowing the approximation method to incorporate the uncertainties in geological parameters that drive Manly's approximation, in order to provide an approximation of the complete distribution of total discovery volume that can result from exploration activity. In addition, it allows the model to include economic parameters into an evaluation of the economic worth of the results of exploration activity, producing distributions of net present value within a short period of time. The offshore Nova Scotia Shelf Basin is selected for demonstrating the methodology.

Reliability worth assessment in a developing country-residential survey results

This paper presents the results of a residential customer survey conducted in service areas of the Nepal Integrated Electric Power System (NPS). The objective was to determine the power interruption costs incurred by the residential customers of a developing country, and extend the customer survey approach to reliability worth evaluation in a developing environment. Interruption cost estimates were obtained using in-person interviews with 944 sample customers. The results indicate the implications of service reliability to residential customers of Nepal, and show that reliability worth evaluation in a developing country is both possible and practical.

Electric service reliability worth evaluation for government, institutions and office buildings

This paper presents the results of an investigation conducted by the Power Systems Research Group at the University of Saskatchewan to determine the costs of electric service interruptions in the government, institution and office building sector. The methodology used to obtain customer interruption cost information in this sector and to analyze the results is also presented.

Power system reliability cost/benefit assessment and application in perspective

The basic concepts associated with quantitative reliability assessment of electric power systems are reasonably well established and well accepted by the power industry. The evaluation of the costs and benefits of competing investments is now becoming a standard practice in power system planning. The justification of new facilities and system modifications now normally includes specific reference to reliability and one approach that is receiving considerable attention is the evaluation of the societal worth (benefit) of system reliability, or conversely the costs incurred by consumers due to power supply interruptions. In order to make a consistent appraisal of economics and reliability, it is imperative to compare the investment cost needed to attain a specified level of reliability with the reliability worth or benefits derived by the society at that level of system reliability. This paper discusses the developments made in existing techniques in the area of power system reliability cost/benefit evaluation and application. Reliability worth data presently used in cost/worth evaluation are presented, and their applications in conjunction with the system reliability indices are also presented in this paper.

Application of chronological load modeling in composite reliability worth evaluation

This work describes the application of pseudo-sequential Monte Carlo simulation to the composite generation—transmission reliability evaluation of the Brazilian South-Southeast system using chronological load modeling. The resulting reliability indices, in particular the loss of load cost (LOLC), were compared with those produced by a sequential Monte Carlo scheme with chronological load model and by a non-sequential Monte Carlo simulation scheme using a multistate Markov load model. It is shown that the pseudo-sequential approach produced the same indices as the sequential approach, with a substantial reduction of computational effort. Those results were in turn quite different from the non-sequential Monte Carlo scheme, thus confirming the importance of an accurate load modeling.

Evaluation of reliability worth and value of lost load

Customers' perceptions of reliability may not always reflect the level of reliability purported by traditional reliability indices. This has been recognised and efforts have been made by the electricity supply industry (ESI) in the United Kingdom to relate ‘reliability investment’ with customers' marginal benefits obtained from such investment. A difficulty encountered during such earlier and recent efforts has been the lack of appropriate valuation of these benefits. With a view to correcting this paucity, the authors have conducted studies, based on customer surveys, aimed at assessing the customer outage costs (COC) due to electric service interruptions. The incremental values of these costs, ΔCOC, following reliability investment are considered proxies of reliability worth and customers' marginal benefits. The results of these studies have provided a very good insight into customers' concerns regarding supply interruptions, but most importantly a coherent method for evaluating the customer benefits (ΔCOC) has been developed and the required generic data for such evaluation generated. Using these data, a consistent method for calculating the value of lost load (VOLL) is also developed.

An Assessment of Public Administration Journals: The Perspective of Editors and Editorial Board Members

The growth and direction of public administration as a field are significantly affected by editors and editorial boards of academic and practitioner journals. Rigorous evaluation and selection of research for publication are essential to strengthening the integrity, and, therefore, the identity, of public administration. Through the review process, journals not only establish quality standards but also provide a gatekeeping function, deciding the nature and scope of ideas presented to the practicing and academic communities for discussion. No other mechanism, with the possible exception of professional conferences, is as powerful in determining the boundaries and characteristics of the field. In essence, journals serve as invisible seminar of public administration research., Yet not all publication outlets are equal in terms of their impact. In this article, we identify the journals that pivotal members of the profession consider most valuable as a scholarly forum, and hence, most influential in defining the discipline. Another reason for conducting this research was to provide a more comprehensive evaluation of journal worth. Previous studies have used journal to assess the quality of graduate programs (Jennings, 1989; Legge and Devore, 1987; Morgan and Meier, 1982; Morgan et al., 198 1). Others have used journal rankings as instrument for determining the methodological soundness of empirical research in the field (Houston and Delevan, 1990). According to Colson (1990), having idea of the value of journals may facilitate the appraisal of faculty publication records, especially with respect to tenure and promotion decisions. Also, Colson claims that journal rankings might provide untenured faculty with a better understanding of the most suitable for their research (p. 452). He furthermore states that an improved assessment should also benefit journal editors, research administrators, collection development librarians, information analysts, and other persons who need qualitative measures of stratification among learned publications (p. 453). From both a scholarly and practitioner standpoint, a comprehensive list of journals that reflects their perceived worth can serve a number of practical and research applications. However, journal rankings used in previous research suffer from a number of limitations that restrict their usefulness. To develop a new ranking of public administration journals, and to understand the reasons for the rankings, we must examine the methodologies and limitations of previous research. Assessing Ranking Methodology Three limitations in particular have restricted the utility of previous assessment of public administration journals: (1) no agreement has been reached on the methods that should be used to appraise the relative values of journals to the profession; (2) the individuals and journals sampled for data have been restricted whereas the number and types of journals considered for study have been virtually boundless; and (3) hypotheses have not generally guided the research on journal assessment. With respect to the first limitation, Vocino and Elliot (1982, 1984) evaluated refereed and nonrefereed journals on the basis of prestige, which they interpreted as consisting of two dimensions, intensity and extensity.(2) Using survey data from the years 1975, 1978, and 1981, they discovered that political science journals had declined in prestige and recognition, particularly among practitioners. Moreover, according to the authors, the earlier higher prestige associated with public administration journals indicated the development of the field as a discipline separate from political science. Vocino and Elliot's (1982, 1984) research, however, has been challenged by Colson (1990, p. 452) on grounds that it had weak conceptual validity and poor methodological performance. Fundamentally different from Vocino and Elliot's study, Colson's (1990) assessment of journal quality employed citation analysis as opposed to prestige ranking. …

Evaluation of reliability worth in composite systems based on pseudo-sequential Monte Carlo simulation

This work describes a new methodology for calculating total system interruption costs in composite generation and transmission systems. The proposed approach, called pseudo-sequential simulation, is based on the nonsequential Monte Carlo sampling of system states and on the chronological simulation of only the sub-sequences associated with failed states. Case studies with the IEEE Modified Reliability Test System (MRTS) and a 415-bus system derived from the Brazilian Southeastern region are presented and discussed.< <ETX xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">&gt;</ETX>

Evaluation of reliability worth in an electric power system

This paper illustrates the application of basic power system reliability evaluation techniques to the quantification of reliability worth. The approach presented links customer interruption cost estimates with predictable indices of power system reliability. The technique is illustrated by application in the areas of generation, composite generation and transmission, and distribution system assessment using a hypothetical test system.

Evaluation of Reactivity Worth of Air Filled Beam Tubes in a Small Neutron Source Reactor by 3-D Transport Calculations

Evaluation of Reactivity Worth of Air Filled Beam Tubes in a Small Neutron Source Reactor by 3-D Transport Calculations

Evaluation of Reactivity Worth of Air Filled Beam Tubes in a Small Neutron Source Reactor by 3-D Transport Calculations.

Evaluation of Reactivity Worth of Air Filled Beam Tubes in a Small Neutron Source Reactor by 3-D Transport Calculations.

Politika obračunavanja amortizacije i revalorizacije infrastrukture PTT prometa

Regularity of economic reproduction is present even in the area of postal traffic - i.e. the postal infrastructure. The process of depreciation represents the transfer of a portion of the worth into a new product or service and has the character of cost which the user must pay in full. For him to be able to bear the charges these values must be in the first place well-grounded. This paper defines the moments which have caused the implementation of a non-consistent policy of assessment of unrealistic depreciation and in this revalorization of postal traffic infrastructure. Depreciation has the central role in the process of reproduction of postal infrastructure i.e. the overall postal traffic while the revalorization makes the basis for the assessment of the current value which if not known makes impossible the evaluation of the actual worth of depreciation and completion of economic reproduction of postal traffic i.e. the infrastructure of postal traffic. This regularity of pattern is imminent to the overall traffic system and economic life of any country.

Book Review: Human Resources, Personnel, and Organizational Behavior: Fair Pay: The Managerial Challenge of Comparable Job Worth and Job Evaluation

Book Review: Human Resources, Personnel, and Organizational Behavior: Fair Pay: The Managerial Challenge of Comparable Job Worth and Job Evaluation

Fair Pay: The Managerial Challenge of Comparable Job Worth and Job Evaluation.

Fair Pay: The Managerial Challenge of Comparable Job Worth and Job Evaluation.

Comparable Worth, Pay Equity, and Public Policy. Edited by Rita Mae Kelly and Jane Bayes. New York: Greenwood Press, 1988. 280p. $49.95.

Introduction Theoretical Overview Wage Inequities in Sex-Segregated Occupations Political Factors Influencing Pay Inequity in State and Local Governments Comparable Worth and Job Evaluation Implementing Comparable Worth: Some Case Studies Conclusion Bibliography Index

Fair pay: the managerial challenge of comparable job worth and job evaluation

Fair pay: the managerial challenge of comparable job worth and job evaluation

Farm Losses Resulting from Electric Service Interruptions-A Canadian Survey

A summary of results is presented of a postal survey of Canadian farm operators conducted to evaluate the direct and short-term costs and impacts resulting from local random electrical supply interruptions. Statistics Canada's Standard Industrial Classification (SIC) was used to categorize farms into groups and subgroups, and the composition of the survey sample was intended to reflect the relative importance of the various farm categories to the geographical regions across Canada. Most Canadian utilities which serve farm customers participated in the project. The survey was designed to obtain the consumer's valuation of interruption costs using three approaches: an indirect worth evaluation based on the preparatory actions the consumer predicted he would take given a specified (un)reliability, a direct estimate of worst-case costs, and an attempt to indicate expected rate reductions commensurate with a specified reduction in reliability. Principal variations of cost estimates are briefly discussed. Information concerning primary effects of interruptions is presented, and the availability, type, and size of standby equipment are reported. >

Optimal Water Supply Planning Based on Seasonal Runoff Forecasts

Suppose a commitment of water supply for the forthcoming season must be made within a prior period during which a sequence of seasonal runoff volume forecasts is available. The decision maker's dilemma is that on the average, the accuracy of forecasts increases with time, but the benefit from the supply allocation decreases as the commitment is delayed. This planning problem is modeled as a Markovian stopping process with maximization of the expected utility of outcomes as the planning criterion. The optimal decision strategy, obtained via dynamic programming, prescribes the timing of the commitment and volume of the planned supply as a function of forecasts. The strategy takes explicitly into account uncertainties in the forecasts, value of water (economic or subjective), risk attitude of the decision maker, and utility reduction factor caused by delaying the commitment. An extensive numerical example illustrates the capabilities of the model as an aid to real‐time decision making and evaluation of the economic worth of forecasts.

Factors Affecting the Development of a Commercial Customer Damage Function

The assessment of reliability cost/reliability worth is an important aspect of power system planning and operation. Reliability cost evaluation has become a relatively well established procedure compared with reliability worth evaluation. This paper presents the results of an investigation of the effect of standby equipment on both the consumption and demand normalized outage costs in the commercial sector. The results of a comprehensive study to find the outage costs for respondents with and without standby systems, and the seasonal variation of these costs, are presented. The development of a localized customer damage function utilizing the data is explored.