Empirically Based Asset Management Decision Support for Reliable and Cost Effective Asset Operation

This article describes a method that supports asset management decision making so that complex technical assets are operated reliably and cost effectively. It focuses on improving the foundations of planning applied to formulate condition-based maintenance strategies. To this end, it presents a novel empirically based method for determining wear allowances in technical assets. The parameter of wear allowance is referenced to quantify current condition and anticipated changes of condition as a function of asset utilization.