Home        About       News       Library       Contact
1

"Reaching" Life
Various activities, such as major maintenance and care of an asset, to ensure that the asset is not retired (or renewed) before it has reached the end of its potential life, which may be defined as design life or service life. The end of life is defined by the point of functional failure ("F").



Activities
Activities to help extend the life of an asset include the following:

Attributes
Mechanisms to monitor that life is being extended:

Candidate Assets
Listed below are some of the key factors to determine whether the life of an asset has been reached or can be reached:
Does painting allow an asset, such as wood siding, to "reach" its normal/design life or does it "extend" its life - that is, the life of the underlying component.

Let’s start our exploration with life safety assets, such as fire alarm equipment. Here we have equipment that is highly regulated and the owners are mandated to maintain on rigid schedules. For example, we must test and recertify the extinguishers and smoke detectors every year. Also, we must eventually replace these items on pre-established age-based schedules that are written into local statutes. For example, all fire extinguishers must be replaced after 12 years in service. Here we have assets where their life can never be “extended” but only “reached” through maintenance.  There is no value in trying optimize maintenance to buy more life from these types of assets. While the maintenance of life safety equipment is not “sexy” like washing of the windows, the ROI and TTV is crystal clear.

Potential life achieved as a result of adequate maintenance
Fig. The impact of maintenance on the service life of assets.


The impact of maintenance on extending the life of assets as represented on a calendar timeline
Fig. The impact of maintenance on "extending" the life of assets as represented on a calendar timeline.


The impact of maintenance on "reaching" the life of assets as represented on a calendar timeline
Fig. The impact of maintenance on "reaching" the life of assets as represented on a calendar timeline.


Our cartoon character ("I. Care") is debating whether we can reach life or extend life of assets
Fig. Our cartoon character ("I. Care") is debating whether we can only "reach" life or, in some cases, "extend" the service life of assets.


Fire extinguishers are a bounded asset.
Fig. Examples of assets that can only be allowed to reach the end of their life but not extended.

See also:
Compare with:


(c) Copyright Asset Insights, 2000-2013, All Rights Reserved - "Insight, foresight and oversight of assets" Google