Optimisation in Network Structured Asset Management

Type :

Research papers

Pages :

43 pages

Format :

.doc

Published date :

08/18/2007

Category :

Economics & finance

Sub category :

Finance

Oboulo.com selection criteria

$ 19.95 Add to cart

Summary :

Chapter 1: Introduction
1. Background
2. Optimisation in network asset management
3. Aim of research
4. Approach
5. What we need
Chapter 2: Asset management within the UK electricity industry
1. Overview of UK electricity system
2. Historical evolution of electricity in the UK
3. The main arguments for privatisation
4. The costs and benefits of the restructuring and privatisation of the U.K. electricity supply
5. The network asset management framework
6. Distinction between 'Refurbished' and 'Upgraded'
Chapter 3: Replacement models for network asset management
1. Definition of the model
2. A capital rationing model
3. Definitions
4. Construction of the model
5. Objective function
6. Solution of the model
7. Modelling approaches under uncertainty
8. Stochastic programming
9. Multiple criteria decision making (MCDM) approaches
Chapter4: Conclusions and remaining issues
References

Abstract

This report considers the role of optimisation in the asset management of a large distribution network. In particular, we look at how to determine the optimal policy for project release. Projects relating to replacement of existing assets and network re-design may be prioritised given capital rationing and/or performance improvement requirements. We focus on maintenance and replacement of a large distribution network (network structured system) and consider the application to electricity distribution networks. The electricity companies who own the UK electricity distribution networks are under pressure to provide a high quality supply to customers at minimum cost. For this particular problem a zero-one integer linear programming model is proposed for selecting an optimal project portfolio, based on the objectives and constraints of the network owner. The modelling approach described in this study would extend to the financial investment appraisal of capital projects for a broad range of manufacturing and energy related industries such as power generation, refining and water supply.