Technical risk management of hydropower plants

When operating and maintaining a large portfolio of hydropower assets, the challenge for the owner and operator is to decide which risk mitigation investments and maintenance activities should come first, and when. This is especially true when resources in personnel and budgets are limited, and the profitability of the plants must be optimized. The situation requires an efficient and rational prioritization of activities and corresponding allocation of budgets. But how can the right criteria and investment principles be determined, if the overall target is safe, reliable, compliant and economical operation of plants? This article outlines how an asset risk management system can assist in this determination.