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Asset Life Cycle

The period of time from the date that an asset is placed in service until it is retired from service (ie., renewed or replaced).

A model of the life cycle of an asset, such as a roof or a boiler. 


Analysis of Life Cycles
It is sometimes useful to consider life cycles as being broken up into separate stages or phases, as follows:

Life cycles are represented by curves, such as dispersion curves.
Conceptual representation of short-life assets, medium-life assets and long-life assets relative to their respective points of functional failure.
Fig. Conceptual representation of short-life assets, medium-life assets and long-life assets relative to their respective points of functional failure ("F")


Decisions should consider the whole life of assets, including the I-P interval and the P-F interva
Fig. Decisions should consider the whole life of assets, including the I-P interval and the P-F interval.


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