PowerRAT

Power Risk Analysis Tool

PowerRAT was created by Sciemus to add rigorous analytical methods to the evaluation of risks in power plant operation. PowerRAT delivers a standard method of evaluating and comparing risks across power plants, allowing for 'intelligent' pricing of insurance products and a shift change in the understanding of risk.

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PowerRAT Process

How PowerRAT works can be broken down into 5 stages of analytics that result in an overall risk profile being constructed for a plant - 

1. Breaking a plant down into individual Critical Components

Power plants have a number of critical components that are vital to their day-to-day operation and can have a large impact on business if they fail. PowerRAT breaks down a plant into a number of key systems including turbines, generators, boilers, control systems, and numerous other technical components to perform a targeted analysis.  

2.  Quantifying the Risk of each Component 

In this stage we utilise our Event Data to calculate the risk of every given model, manufacturer, and type of critical plant component.

3. Understanding how these Risks are Combined

Once PowerRAT knows the risk of any 1 component, it then looks at how the components contribute to the plant output and the total consequences of failure.

4. Understanding plant Influencing Factors

In addition to pure technical analysis, PowerRAT then looks at other influencing risk factors like plant location, maintenance strategy, operating regime, spares holding and other factors that could effect a plants overall risk. 

5. Delivering the Total Risk Pofile

After the previous steps have been completed, PowerRAT then produces an total risk profile that identifies probability distribution for chance of failure over time for the the entire plant along with identifying weaknesses for individual components. 

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PowerRAT Data

A model is only as accurate as the data that supplies it. Sciemus go to great lengths to ensure we source the most comprehensive and credible data providers an industry has to offer to use in our models. PowerRAT sources data from both QinetiQ and Strategic Power Systems in order to form a complete scientific view on risk. Our power plant database grows by the day, continuously amassing information from new plants, components and events. From the start of 2011 we have data on -

• Over 8,000 power plants worldwide
• A total breakdown of over 225,000 individual components
• Over 13,000 years of operational data 
• Over 5700 failure events, including those that led to claims events. What does this mean?

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Operating PowerRAT

The calculations made by PowerRAT are too complex and computer intensive to be done from a normal computer or laptop. For the model to remain fast and responsive a heavy duty server cluster is used to bare the brunt of analytical modelling. As sitting amongst a mass of computing servers may be a distraction for the user, Sciemus have developed an innovative web based user interface, allowing the user full access to PowerRAT whilst delivering lightning quick calculations and outputs.

 

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