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which refers to the placement of a bell around the neck of a ram while
he leads his flock of sheep over the rolling hills in the misty English
countryside. The movements of the flock could be established by hearing
the bell from a distance before the flock was in sight. While the
“miner’s canary” serves to warn of danger, the “shepherd’s bellwether”
provides a leading indicator of something coming up ahead that we
cannot see from our current position.
The singing canary and the ringing bell serve as simple metaphors for a variety of techniques that have been developed by different professions to assist in managing the uncertainties and risks associated with future events.
Detection of Leading Indicators
Use of Leading indicators
Leading indicators are necessary for the following asset management activities:
Fig. Leading indicators, lagging indicators and coincident indicators on a PF Curve.
Fig. Predictive maintenance (PdM) technologies to detect leading indicators along the P-F Curve in relation to Potential Failure (P) and Functional Failure (F).
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