Challenges of asset management in power transmission network

Managing assets in capital intensive industries such as power transmission has been becoming more complex due to uncertainties with long asset life, inspection and maintenance in remote places, environmental factors, statutory requirements along with deregulation and competition in the open market. In this paper, the possible challenges are explained with illustrative examples. Asset management principals for power transmission network companies are emphasized. The hierarchal levels within asset management approach are shown with highlighting the importance of relationship between each level.