Inspection
Work Planning
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The period during which an asset is expected to perform its intended function while meeting defined performance, safety and reliability requirements.
Useful Life is the total period during which an asset, component or system is expected to perform its intended function while satisfying required performance, safety, reliability and economic criteria under specified operating conditions. Useful Life is influenced by design, materials, operating environment, maintenance practices and degradation mechanisms throughout the asset lifecycle.
Useful Life defines the expected service life of an asset under specified operating conditions.
Useful Life may represent the design life, economic life or expected operational life of an asset depending on the engineering, financial or regulatory context in which the term is used.
Useful Life represents the total expected operational life of an asset, whereas Remaining Useful Life estimates the portion of that life that remains at a given point in time.
Asset Management; Reliability Engineering; Lifecycle Management.
Manufacturing.; Oil and gas.; Petrochemical.; Infrastructure.; Power generation.
ISO 55000; ISO 15686-5; ISO 13381-1
VisualAIM connects glossary concepts to the asset records, inspection histories, and workflows they describe.
