Abstract
Electricity is essential in our lives; most people and companies rely on electricity to carry out most duties. Therefore, Asset Management is significant in the Distribution Power System because it has high investment costs and expensive equipment. For the Distribution Power System to be reliable and effective, relevant Asset Management techniques are required. The research steps were: Firstly, the power system's equipment was analyzed for the reliability importance index. Secondly, define potential maintenance plans for all the equipment. Lastly, structure an optimization problem to select the ideal maintenance strategy for the Distribution Power System. Initially, this study examined the utility's asset and reliability management for the Distribution Power System. Thereafter it compared the proposed Asset Management strategy with the utility's existing maintenance strategy. Finally, this study presented the benefits and impacts of the recommended Asset Management strategy on the utility.
Systematic Literature Review was the research methodology used to find the most suitable strategy for Asset Management and Reliability of Distribution Power System from published works. This study used qualitative research methodology to identify and select the best suitable maintenance strategy for the Distribution Power system. The Systematic Literature Review portion of this research suggested that the utility's recommended asset and reliability management strategy should be based on a Predictive Maintenance Strategy. It was found that the utility uses Corrective Maintenance strategy which is unreliable. The research also found that adopting the International Organization for Standardization 55000 for Asset and Reliability Management can significantly benefit organizations. This standard provides a comprehensive framework for establishing successful proactive maintenance activities that ensure asset performance. The research concluded that the correct Asset Management strategy can solve many of the challenges faced by Asset Management in the Distribution Power System.