This paper presents a literature study on asset management in electrical power transmission and distribution system. Due to restructure and deregulation of electric power industry in recent times, the focus has been on transmission and
distribution assets that include transmission lines, transformers, power plants, substations and support structures. The study aims to provide a first of its kind exposure to asset management classification, various interesting maintenance methods and theories developed in last two decades. In the end, it also discusses various risk assessment techniques in asset management developed and used for academic research and industries.@en