Integrated framework for multi criteria hierarchical performance measure for management of power transmission assets

Measuring Performance of Assets and its Management in capital intensive industries such as Power Transmission has been becoming more complex due to uncertainties with long asset life, outsourcing inspection and maintenance, changing statutory and environmental requirements along with deregulation and competition in the open market. This paper defines asset performance indicators for power transmission and how to measure effectiveness of managing those assets for better predicting asset condition and delivering what the business expects out of the asset. A framework for the multi criteria hierarchical performance measurement model is proposed for power transmission assets. It integrates decisions at business level to operational and maintenance level for enhancing asset performance at reduced cost as well as risks.