Title :
Using risk analyses in a multi criteria decision making framework for evaluation of hydropower maintenance projects
Author :
Nordgård, Dag Eirik ; Heggset, Jørn ; Daleng, Jan
Author_Institution :
SINTEF Energy Res., Trondheim
Abstract :
The paper presents a framework for using risk analysis together with multi criteria decision making methods as an analysing strategy for evaluating and prioritising different types of maintenance and renewal projects within a power company. Projects are being subject to risk evaluation related to a set of qualitative criteria, together with calculation of economic key figures such as the net present value of the project. The basics of the strategy are illustrated by experience data from risk evaluation of the project portfolio of a Norwegian hydropower production company.
Keywords :
decision making; hydroelectric power; hydroelectric power stations; maintenance engineering; project management; risk analysis; Norwegian hydropower production company; hydropower maintenance projects; multicriteria decision making; power company; risk analyses; Decision making; Electricity supply industry deregulation; Environmental economics; Hydroelectric power generation; Portfolios; Power generation economics; Production; Project management; Risk analysis; Safety; Hydroelectric power generation; Maintenance optimisation; Multi Criteria Decision Making; Risk Analysis;
Conference_Titel :
Power Tech, 2005 IEEE Russia
Conference_Location :
St. Petersburg
Print_ISBN :
978-5-93208-034-4
Electronic_ISBN :
978-5-93208-034-4
DOI :
10.1109/PTC.2005.4524396