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Risk-based economic-life tools help utilities justify and prioritize spending to replace or refurbish aging infrastructure. The fundamental calculation is to balance the benefit of delaying capital expenditures against the cost due to risk of failure as assets age. The optimal life-cycle is asset-specific and dependant on parameters such as condition, consequences of failure, and cost to replace or refurbish. Transparency and emphasis on cost/benefit analysis make the results convincing to senior managers, rate boards, and other non-technical audiences.

This web conference will examine decision tools including health indexing and risk assessment (in particular, identifying and quantifying the consequences of failure for distribution and transmission assets), and will discuss how to build a business case based on economic-life models.

Learning Outcomes

• Define what is health indexing, and how a health index is developed
  
• Evaluate health indexing results
  
• Recognize data collection strategies
  
• Identify potential consequences of failure for distribution, transmission and generation assets
  
• Identify how to "dollarize" outage costs
  
• Describe concept of economic life
  
• Explain how to make a business case based on economic life
  
• Recognize how to prioritize spending

Requirements for Successful Completion of Program

Participants must be logged in to the web conference for its entirety to receive continuing education credit.

Instructional Methods

Web based PowerPoint presentation and on-line interactive question/answer session.

Continuing Education Credits:

EUCI is authorized by IACET to offer up to 0.1 CEUs for this program.