{"id":2838,"date":"2021-01-25T19:32:35","date_gmt":"2021-01-25T19:32:35","guid":{"rendered":"https:\/\/swefc.unm.edu\/iamf\/?page_id=2838"},"modified":"2026-04-15T21:03:19","modified_gmt":"2026-04-15T21:03:19","slug":"criticality-consequence-of-failure","status":"publish","type":"page","link":"https:\/\/swefc.unm.edu\/iamf\/criticality-consequence-of-failure\/","title":{"rendered":"Criticality \/ Consequence of Failure"},"content":{"rendered":"

[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|tablet” _builder_version=”4.16″ _module_preset=”default” positioning=”none” horizontal_offset_tablet=”” horizontal_offset_phone=”” horizontal_offset_last_edited=”on|tablet” custom_margin=”0px||||false|false” custom_margin_tablet=”” custom_margin_phone=”” custom_margin_last_edited=”on|desktop” custom_padding=”0px|||0px|false|false” custom_padding_tablet=”|||25px|false|false” custom_padding_phone=”” da_disable_devices=”off|off|off” global_colors_info=”{}” custom_padding__hover_enabled=”on|desktop” custom_padding__hover=”0px|||0px|false|false” theme_builder_area=”et_body_layout” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.27.6″ _module_preset=”default” width=”100%” global_colors_info=”{}” theme_builder_area=”et_body_layout”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”et_body_layout”][et_pb_text _builder_version=”4.27.6″ _module_preset=”default” text_font_size=”16px” global_colors_info=”{}” theme_builder_area=”et_body_layout”]<\/p>\n

Consequence of Failure<\/h2>\n

<\/span><\/span><\/p>\n

The next step in\u00a0<\/span><\/span>determining<\/span>\u00a0<\/span>a\u00a0<\/span><\/span>criticality<\/span>\u00a0<\/span>score is\u00a0<\/span><\/span>determining<\/span>\u00a0<\/span>the conse<\/span>quences of\u00a0<\/span><\/span>an asset<\/span>\u00a0<\/span>fail<\/span>ing<\/span>. Consequence<\/span>s of failure include criteria set using the\u00a0<\/span><\/span>financial, environmental, and social\u00a0<\/span><\/span>impacts<\/span>\u00a0<\/span>a utility and community experience when an asset fails under any failure mode<\/span>. These impacts can be valued differently by giving more weight to one type of consequence than another.\u00a0<\/span><\/span>These\u00a0<\/span><\/span>three categories\u00a0<\/span><\/span>are\u00a0<\/span><\/span>frequently<\/span>\u00a0<\/span>referred to\u00a0<\/span><\/span>as the\u00a0<\/span><\/span><\/span>Triple Bottom Line<\/span><\/span>.<\/span>\u00a0<\/span><\/span>There are multiple tangible and intangible<\/span>\u00a0<\/span>factors that influence\u00a0<\/span><\/span>the consequences of an asset failing.\u00a0<\/span><\/span>These consequences can range from impacts on public safety to environmental contamination to costs related to collateral damage caused by\u00a0<\/span><\/span>the failure<\/span>.\u00a0<\/span><\/span>\u00a0<\/span><\/p>\n

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To calculate the overall criticality\u00a0score\u00a0of an asset, the consequence(s)\u00a0of failure needs to be quantified.\u00a0Like\u00a0the probability of failure\u00a0rating, each asset should be assigned a\u00a0<\/span>consequence of failure\u00a0(CoF)\u00a0rating<\/span>\u00a0based on the severity of any financial, environmental, and social consequences caused by that\u00a0asset\u00a0failure.\u00a0Also, a consequence of failure rating structure\u00a0should be developed and implemented.\u00a0Each consequence rating should have a general degree of impact description. It is important to create a consistent rating structure so\u00a0that\u00a0different staff members are likely to rate the\u00a0consequences\u00a0of failure of an\u00a0asset similarly.<\/span>\u00a0<\/span><\/p>\n

A consequence of failure rating is essential to calculating a\u00a0criticality\u00a0score. The consequence of failure rating is multiplied with the probability of failure rating to get an overall risk score of each asset.\u00a0The reason for considering both probability and consequence of assets is that neither one taken by itself is likely to result in the best expenditure of funds.\u00a0\u00a0<\/span><\/p>\n

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Consider the following example:<\/span><\/b>\u00a0<\/span><\/p>\n

\u00a0<\/span>Both Assets A and B have moderate probability of failure scores; however, Asset B has a higher consequence of failure\u00a0score. The criticality score\u00a0indicates\u00a0that\u00a0repair or replacement of\u00a0Asset B may need to be prioritized.<\/span>\u00a0<\/span><\/p>\n

[\/et_pb_text][dvmd_table_maker tbl_row_header_count=”0″ tbl_chead_cell_color=”#2ea3f2″ _builder_version=”4.27.6″ _module_preset=”default” tbl_tcell_text_font_size=”16px” tbl_chead_text_font=”|700|||||||” background_color=”#000000″ border_width_all=”2px” border_color_all=”RGBA(0,0,0,0)” locked=”off” global_colors_info=”{}” border_width_all__hover=”2px” border_width_all__hover_enabled=”on|hover” theme_builder_area=”et_body_layout”][dvmd_table_maker_item col_label=”Asset Name ” col_content=”Asset Name
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3<\/center>
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Conversely:<\/span><\/b>\u00a0<\/span><\/p>\n

If\u00a0both assets A and B have moderate consequences of failure, but Asset A has a higher probability of failure,\u00a0the criticality score\u00a0indicates\u00a0that repair or replacement of Asset A may need to be prioritized.<\/span>\u00a0<\/span><\/p>\n

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5<\/center>
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15<\/center>
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6<\/center>” _builder_version=”4.27.6″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”et_body_layout”][\/dvmd_table_maker_item][\/dvmd_table_maker][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”et_body_layout” max_width=”2560px” sticky_enabled=”0″ width=”100%”][et_pb_column type=”4_4″ _builder_version=”4.27.6″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”et_body_layout”][et_pb_text _builder_version=”4.27.6″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”et_body_layout” sticky_enabled=”0″]<\/p>\n

The two ratings together help\u00a0<\/span><\/span>identify<\/span>\u00a0<\/span>which assets may<\/span>\u00a0<\/span>need priority attention to ensure that assets\u00a0<\/span><\/span>remain<\/span>\u00a0<\/span>functioning at the desired level.<\/span><\/span>\u00a0<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

Consequence of Failure The next step in\u00a0determining\u00a0a\u00a0criticality\u00a0score is\u00a0determining\u00a0the consequences of\u00a0an asset\u00a0failing. Consequences of failure include criteria set using the\u00a0financial, environmental, and social\u00a0impacts\u00a0a utility and community experience when an asset fails under any failure mode. These impacts can be valued differently by giving more weight to one type of consequence than another.\u00a0These\u00a0three categories\u00a0are\u00a0frequently\u00a0referred to\u00a0as the\u00a0Triple Bottom Line.\u00a0There are multiple tangible and intangible\u00a0factors that influence\u00a0the consequences of an asset failing.\u00a0These consequences can range from impacts on public safety to environmental contamination to costs related to collateral damage caused by\u00a0the failure.\u00a0\u00a0To calculate the overall criticality\u00a0score\u00a0of an asset, the consequence(s)\u00a0of failure needs to be quantified.\u00a0Like\u00a0the probability of failure\u00a0rating, each asset should be assigned a\u00a0consequence of failure\u00a0(CoF)\u00a0rating\u00a0based on the severity of any financial, environmental, and social consequences caused by that\u00a0asset\u00a0failure.\u00a0Also, a consequence of failure rating structure\u00a0should be developed and implemented.\u00a0Each consequence rating should have a general degree of impact description. It is important to create a consistent rating structure so\u00a0that\u00a0different staff members are likely to rate the\u00a0consequences\u00a0of failure of an\u00a0asset similarly.\u00a0 A consequence of failure rating is essential to calculating a\u00a0criticality\u00a0score. The consequence of failure rating is multiplied with the probability of failure rating to get an overall risk score of each asset.\u00a0The reason for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-2838","page","type-page","status-publish","hentry"],"yoast_head":"\nCriticality \/ Consequence of Failure - Integrated Asset Management Framework<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/swefc.unm.edu\/iamf\/criticality-consequence-of-failure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Criticality \/ Consequence of Failure - Integrated Asset Management Framework\" \/>\n<meta property=\"og:description\" content=\"Consequence of Failure The next step in\u00a0determining\u00a0a\u00a0criticality\u00a0score is\u00a0determining\u00a0the consequences of\u00a0an asset\u00a0failing. Consequences of failure include criteria set using the\u00a0financial, environmental, and social\u00a0impacts\u00a0a utility and community experience when an asset fails under any failure mode. 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