Developing Long Term Asset Risk Replacement Modelling
UK Power Networks
UKPN Innovation Team
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Innovation Funding Incentive
Comms & IT
Complex risk modelling programmes require extensive amounts of data to work. The asset groups selected in this project (e.g. civil assets) are in the stages of having their data completeness, accuracy and timeliness improved. The aim is also to provide a capable platform for calculating Health and Criticality Index for low value high volume assets such as cable pits, based on limited amount of data, and plan interventions.
The model methodology produced will be used as the first line approach for modelling new asset categories, before progressing them to more complex modelling tools.
The aim of this project is to redefine and expand currently limited statistical models, to create a wider and more accepted standard for use with higher volume and lesser data populated asset categories.