Chapter7 2 7. Efficient Asset Management Practices for Power Systems Using Expert Systems

Abstract Electric power companies have high financial costs due to poor asset management practices. Therefore, it is crucial to use decision-making processes to decrease the global costs of an active asset and to extend its lifetime to a maximum. Asset management programs, which are frequently used to tackle optimization problems, aim to guide the use of the physical assets of a business, mainly by optimizing their lifetime. Efficient asset management practices establish operation and maintenance for each equipment, from the time the equipment is acquired until the appropriate time for its replacement. So, based on these assumptions, we propose a method to assist asset management decision-making in the electric power companies, which is embodied by computer software.