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For example: the boiler is of medium-grade quality and therefore has an expected service life of 20 years after which the organization will need to replace it with another boiler.
Types of Service Lives
There are a multitude of terms that are used to capture different nuances in service life, some of which are listed below.
The Impacts on Service Life
Analyzing Service Life
Listed below are some of the concepts that have been developed to assist consultants, managers and other in the analysis of service life.
Managing Service life
Listed below are some of the principles and techniques of asset management to assist with the management of the service lives of assets:
Fig. Some of the key statistical elements of an asset survivor curve.
Fig. Decisions should consider the whole life of assets, including the I-P interval and the P-F interval.
Fig. The whole life of assets can be divided into life stages - early life, mid-life and late-life, with different maintenance strategies at each life stage.
Fig. The risk spectrum extending along the P-F interval to illustrate the varying strategies in the Pre-P and Pre-F periods. For example, a shift from Time-Based Maintenance (TbM) to Condition-Based Maintenance (CbM).
Fig. The impact of maintenance on the service life of assets.
Fig. Conceptual representation of short-life assets, medium-life assets and long-life assets relative to their respective points of functional failure.
Fig. Our cartoon character ("I. Care") is debating whether we can only "reach" life or, in some cases, also "extend" the service life of assets.
Fig. Probability distributions for different assets.
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