Asset Decision Matrix – Phase 1: Deal with the Immediate Crisis Asset failure is typically thought of in terms of mortality, i.e. that the asset has broken. However, an asset can be operating and still functionally fail due to regulatory, capacity, and/or...
Asset Decision Matrix Phase 2: Determine Cause of Failure and How to Prevent Failure Once you’ve intervened in an asset failure, it’s time to evaluate the major causes of the asset failure and determine what action you can take to prevent or mitigate future...
Asset Decision Matrix Phase 3: Data Considerations Once you have determined which steps to take regarding asset repair, rehabilitation, or replacement, and have decided how to modify your operations to reduce the impact of future failures, particularly by trying to...
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