Time management for assets: chronological strategies for power system asset management

This paper discusses how the coordination of time scales for asset management plays a critical role in strategic decisions. It categorizes asset management based on possible time scales: real-time asset management; short-term asset management; midterm asset management; and long-term asset management. The paper asserts that the realization of chronological asset management in the field could lead to the better operation and management of power systems in a competitive era.