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to describe the process and mechanisms by which assets deteriorate and pass
through different stages of
Types of Condition
Three types of asset condition are contemplated in the field of asset management.
Elements of the Model
Listed below are the key components of the deterioration model:
Types of Deterioration Models
Listed below are the primary models used in asset management which can be organized into two broad groups:
Group A: Statistical Deterioration Models
Class A: Performance/Degradation Curves
Listed below are some of the elements of performance/ degradation curves.
Class B: Survivor Curves
Listed below are some of the different classes of probability distribution curves to make asset management forecasts. One of four broad classes of Iowa Curves, as follows:
Class C: Composite Curves
Listed below are nine classes of composite curves that model the relationship between survivor curves and degradation curves to forecast the useful service lives of different classes of assets.
Variables with the Deterioration Models
Listed below are some of the key variables that are addressed in different types of deterioration models.
Fig. The whole life of assets can be divided into life stages - early life, mid-life and late-life.
Fig. Decisions should consider the whole life of assets, including the I-P interval and the P-F interval.
Fig. Comparison of two common types of deterioration models: performance curves and survivor curves.
Fig. The P-F interval illustrated with asphalt paving along the curve.
Fig. The risk spectrum extending along the P-F interval.
Fig. Comparison of positive skewness ("blue" curve) and negative skewness ("green" curve) on a probability distribution.
Fig. The P-F interval is one of the different types of deterioration models to guide facility managers and operators.
Fig. Illustration of a deterioration model for a roof system.
Fig. The impact of maintenance on the service life of assets.
Fig. Predictive maintenance (PdM) technologies along the P-F Curve in relation to Potential Failure (P) and Functional Failure (F).
Fig. Major maintenance tasks plotted on an asset deterioration model.
Fig. I. Care is trying to use a crystal ball to make forecasts about the deterioration of his assets.
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