The primary objective of this report is to develop a transmission line risk management guideline that utilities can adapt to develop their own risk management strategies and meet corporate objectives. It provides an overall risk management process, necessary inputs, and a toolbox of techniques to implement each process step.
A literature review is presented, providing insights into the strategies utilized in other industries (namely, transportation and oil & gas) to manage linear assets. It provides evidence on how some of the strategies and tools used in these industries can be adapted for the risk management of transmission lines.
Fundamentally, risk is the product of an event’s probability and consequences. Consequences are defined in terms of negative impacts that may occur, such as threats to reliability, finances, safety, and environment. Probability is expressed as a percentage; when probability changes over time, a probability distribution such as the Weibull distribution is used.
Robust risk management strategies are required to mitigate risk on overhead transmission lines. The risk management framework presented in this report documents the inputs, process steps, and available analytical tools and methodologies for each process. The report recommends sequential steps that utilities can follow to develop effective and efficient risk management strategies for transmission lines. Use cases are provided as examples demonstrating the implementation of the methodology.
Transmission lines, Risk management, Risk identification, Risk analysis, Risk evaluation, Risk mitigation, Asset management