Deterioration models use statistical curves to identify which assets have the highest failure probability. You can use the results to prioritize and optimize your asset management plans.
Process overview
Create asset groups: Before creating a deterioration model, you need to create an asset group set to group together assets with similar characteristics. Asset groups allow for statistical analysis based on the specific conditions and behaviors of similar assets.
Learn how to create an asset group set.
Create a failure definition (optional): If you have sufficient inspection, task and/or event data, you can use this to define what indicates failure for your assets. Using this data can increase the reliability of your model. If you don 't have this data, you can use industry standard curves or manually create curves.
Learn how to create a failure definition.
Create the deterioration model and assign survival probability curves to your groups: When you create a new deterioration model, you'll need to review and/or assign survival probability curves for your asset groups. These curves are either based on a failure definition you created and selected, or you can choose to use industry standard curves or to manually define curves.
Learn how to create a deterioration model.
Results: Run your model and review the results.
Learn more about deterioration model results.