A form of deterioration model also referred to sometimes as a "degradation curve".
A performance curve is a graphical representation of the deterioration
of an asset, where:
slope of the curve
indicates the anticipated rate of deterioration of the asset
- The length of the curve
represents the service life of the asset until functional failure ("F").
points (thresholds) along the curve indicate necessary changes in the
maintenance mix to ensure optimal intervals for long-range stewardship
of the asset.
Peformance curves have the following applications in asset management
- A tool to anticipate the Probability of Failure (PoF) of an asset.
- A tool for
illustration of the relationship between the Initial capital outlay
during construction or renewal
and the rate of degradation of the asset, which is controlled somewhat
by intervening maintenance
activities until the next renewal is required.
Listed below are some of the variations of performance curves for assets:
Performance curves are abstracts used to model reality. They are conceptual in nature.
Conceptual representation of short-life assets, medium-life assets and
long-life assets relative to their respective points of functional