Abstract
Electricity distribution companies are to an increasing extent using risk assessment methods in their
asset management practices. This paper presents an overall framework for risk-informed decision support where simplified risk analysis methods are used for initial risk assessment, and quantitative risk
analysis methods are used to perform more in-depth studies for selected problems. Quantitative risk
assessment methods are far more laborious compared to simplified analyses, so it is important that such
analyses are performed only to a limited number of risk problems. Copyright 2012 Elsevier Ltd. All rights reserved.
asset management practices. This paper presents an overall framework for risk-informed decision support where simplified risk analysis methods are used for initial risk assessment, and quantitative risk
analysis methods are used to perform more in-depth studies for selected problems. Quantitative risk
assessment methods are far more laborious compared to simplified analyses, so it is important that such
analyses are performed only to a limited number of risk problems. Copyright 2012 Elsevier Ltd. All rights reserved.