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This paper proposes a model for analysis of life cycle cost (LCC) of the transmission systems. First, to build the model of LCC of the transmission systems, the whole LCC process of components is divided into five costs, i.e., initial cost, operating cost, maintenance cost, fault cost and disposal cost. Second, during the calculation of the maintenance cost, the grey system theory is employed to predict...
This paper addresses the life cycle management (LCM) problem for asset of smart grids. The costs of different stages during asset life cycle are integrated into a coherent framework. The real option theory is employed to quantify different strategies of LCM. The stochastic risks during the whole process of asset utilization are considered. The whole process of the asset investment, utilization and...
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