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Asset Management Systems and Methods

  • US 20100036702A1
  • Filed: 08/08/2008
  • Published: 02/11/2010
  • Est. Priority Date: 08/08/2008
  • Status: Active Grant
First Claim
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1. A computer-usable medium that, when placed in operable relation to a processing device, provides software to effect a determination of an optimal asset management plan, the software comprising:

  • an input module that accepts a list of assets to be managed and accepts design data and process data for each asset;

    a failure module that determines probability of failure curve parameters for each degradation mode of each asset;

    a simulation module that predicts asset failures to determine failure costs, and further calculates risk-weighted costs for each degradation mode of each asset, said simulation module producing a total management cost based on some combination of the failure costs and the risk-weighted costs; and

    an optimization module that generates alternative management plans for evaluation by the simulation module and provides an optimal management plan for display to a user.

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