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Remaining Useful Life (RUL)

Also referred to as Remaining Life.  

The estimated time, in years, that an asset can be expected to continue to serve its intended function, which is a measure of the balance between effective age and estimated service lifeProjects anticipated to occur in the initial year have ‘zero’ Remaining Useful Life. An expression of the probability of failure  (PoF) of an asset to the critical year.

The shorter the RUL, the greater the proximity to the project.

Compare with:

See also:

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