Method for asset management of substation

A method for asset management of a substation, comprising steps of:

• determining whether to compensate a reliability model by each element of the substation by comparing reliability of a reference reliability model by each substation type and reliability according to health index by the each element thereof generated based on state data and real-time monitoring data by the each element of the substation;
• compensating the reference reliability model by the each substation type and generating a unique reliability model by the each element of the substation by using the health index by the each element of the substation as a result of the determination;
• assessing system reliability index and economic feasibility by each maintenance scenario based on a pre-generated reference system reliability model for each candidate element subject to maintenance among the elements of the substation;
• and
• updating the unique reliability model by the each element of the substation as a result of executing maintenance after selecting a maintenance scenario by the each candidate element subject to maintenance as a result of assessing the health index by the each element of the substation, the unique reliability model by the each element of the substation, the system reliability index, and the economic feasibility;
• wherein the step of compensating the reference reliability model by the each substation type by using the health index by the each element of the substation is to compensate the reference reliability model by the each substation type by applying the health index by the each element of the substation to the reference reliability model by the each substation type if reliability of the reference reliability model by the each substation type is different from reliability according to the health index by the each element of the substation.