1) Are you quantifying asset benefits in economic terms?

In order to maximize the value derived from an asset, it is necessary to determine the asset value in economic terms. In order to determine the value derived from power delivery assets in economic terms, it is necessary to quantify the benefits provided by the asset in economic terms. Benefits typically associated with power delivery assets include revenue generation, capacity, safety, asset preservation, service reliability and power quality. The seminar discusses methods that can be used to determine these benefits and then convert them into appropriate economic equivalents.

2) Are you maximizing reliability performance per dollar of expenditure?

For each level of funding available to a utility, there is a maximum level of reliability performance that can be achieved. As funding levels change, the way in which funding is utilized must change to provide the highest reliability performance level for the funding level in question. The seminar addresses the problem of how a utility should determine the most effective use of each funding dollar to provide the highest level of service reliability possible.

3) Are you maintaining the right balance between reliability performance and total costs?

Reliability performance is a commodity. Therefore, from the customer's standpoint, reliability performance is subject to the law's of supply and demand, as well as the law of diminishing marginal utility. To maximize customer satisfaction, it is necessary to strike the right balance between reliability performance and total costs. The seminar illustrates methods that can be utilized to approach the optimum balance between service reliability and costs, thus maximizing the value of system assets from the customer's perspective.

4) Are you considering the marginal benefit of reliability improvement initiatives?

The reliability benefits associated with specific assets and activities change as the system changes and operations and maintenance practices change. Therefore, it is important to consider the marginal reliability benefit of specific assets and activities so they continue to provide the benefits that justified their initial implementation. The seminar explains marginal reliability benefit, the factors that influence it and how changing marginal reliability benefit impacts the overall value of specific assets.

6) Are your system planning strategies designed to maximize asset value?

While the core purpose of system planning is to address capacity issues, alternative system plans often represent different service reliability levels and costs. Development of a system plan that meets basic capacity requirements and optimizes reliability with total costs will maximize the value derived from assets. The seminar discusses system planning methods and techniques that will optimize reliability with total costs, thus maximizing the short-term and/or long-term value derived from specific assets.

7) Are you taking an integrated approach to managing assets to maximize life cycle value?

Asset maintenance, capital replacement and capacity planning programs all play a role in maximizing asset value via optimization of service reliability with total costs. However, the benefit associated with each of these programs is dependent on the strategies utilized for the other two programs. For example, the benefit associated with a specific maintenance strategy may change as capital replacement and capacity planning programs or criteria are altered. Therefore, maximizing asset value must be based on a strategy that integrates asset maintenance planning, capital replacement planning and capacity planning into a single integrated planning initiative. The seminar illustrates the benefits associated with integrated planning and offers strategies that can be used to successfully integrate maintenance, capital replacement and capacity planning into a single decision making process.