Distribution network risk assessment using multicriteria fuzzy influence diagram (Q1731693)

Summary: Risk assessment of distribution assets is one of the most important factors in the process of network development or maintenance planning decision-making. The process of decision-making is faced with uncertainties, involving technical, financial, safety, environmental, and other operational issues that make standard risk assessment techniques insufficient. Probabilistic uncertainties require appropriate mathematical modeling and quantification when predicting future state of the nature or the value of certain parameters. The paper is proposing a new methodology for the multicriteria risk assessment of the distribution network assets, based on influence diagrams and fuzzy probabilities. Influence diagram has been used to determine all relevant factors concerning risks and their interdependencies are depicted. Fuzzy probabilities are represented by triangular fuzzy numbers with constraints on feasibility of elicited probabilities. This methodology enables the decision process in uncertain environment, with the impact evaluation of each particular distribution asset, or the asset component. The methodology is illustrated on the example of a distribution substation circuit breaker maintenance strategy selection.