This book intends to facilitate statistically well-founded decisions in the management of assets of an electricity grid. A key part of the book concerns the analysis methods that are necessary to make asset management decisions on the maintenance, repair and replacement decisions. In particular the book is aimed at: enabling decisions in case of small data sets which often happens when asset managers have to deal with early failures; bringing consistency between methods e.g. plots with fits of data sets should be consistent with parameter estimations also for small data sets and providing means to evaluate the significance of trends and analysis. The book describes the background, concepts and statistical techniques to evaluate failure probability, remaining lifetime, compliancy with specifications, effectiveness of network configurations and stocks of spare parts. It also shows how the representation and analysis of data can be made consistent and explains modern upcoming methodologies such as the Health Index and Risk Index.
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