Using Asset Performance Management application

The Asset Performance Management application shows how well a specific asset will provide its service in the future.

You have a direct visualization of the status of any asset from the reports and charts in the application. The Asset Performance Management application provides indices and numerical values that indicate the health and risk of asset and network failure. These reported values are:
  • Health index
  • Failure
  • Criticality
  • Risk

Health

Health is an index that is an aggregate score for the health of an asset and is calculated from the historical performance of the asset and the measured physical condition. The higher the value for the Health index, the less likely the asset will fail. Example factors that are used to calculate the heath index are age, manufacturer, and overload time. The Health index returns values in the range 0 to 100 where 100 is as new condition and 0 is very poor condition.

Failure

Failure is the probability that the network will fail. The higher the value, the more likely the network fails. Failure is calculated from the probability that an particular asset will fail and the impact that failure has on other assets in the network. Failure is calculated from four probabilities: The probability of failure of an individual asset. This is calculated as {(100 - Health index) * constant} The probability of failure of an asset downstream from the individual failing asset. The probability of failure of an asset upstream from the individual failing asset. The probability of the physical failure of a supporting asset. A supporting asset is one that gives physical support to the individual asset, for example, an overhead cable is physically supported by 2 poles. Failure returns values in the range 0 to 100 where 0 is no probability of failure and 100 is an imminent network failure.

Criticality

Criticality is a measure of the number of customers that are supported by an asset. Assets that support a greater number customers have a higher Criticality rating. As the number of downstream network nodes propagates, the Criticality rating of one asset is the summation of all Criticality rating of all downstream nodes, plus its own rating. Criticality is rated from 0 to 100 where 0 is no customers and 100 is all customers.

Risk

Risk is a measure of the risk to the business if a failure in the network occurs. The higher the value for the Risk the more risk there is to the business. Risk is a percentage value given by the product of the values for Failure and Criticality / 100. If Failure is 30 and Criticality is 65, then Risk is 19.5%.

If Criticality is much less in terms of customers, then if Failure is 30 and Criticality is 10, then Risk is 3%. The Risk returns values in the range 0 to 100 where 0 is no risk and 100 is a potential catastrophic risk.