Project Evaluation and Selection at Oklahoma Gas & Electric

Abstract

Summary form only given. Electric utilities are on a never ending quest to attain higher levels of performance for increasingly lower costs. Often times this leads to project requests that far exceed budget and resource constraints. Many utilities have started to manage this problem through well-defined project evaluation and selection processes. Oklahoma Gas & Electric is no different, and has recently implemented a comprehensive asset management system that centers around a project evaluation and selection tool. This presentation discusses this project evaluation and selection tool in terms of features, algorithms, and related business processes. It also discusses the intensive implementation project that was used to develop a base asset model and populate the tool with data. This base model is able to quantify the cost and benefit implications of potential projects, and can track asset performance over time. Last, the presentation discusses the cost and performance benefits that OG&E expects to achieve through better project evaluation and selection