Clarifying the link between data, diagnosis and Asset Health Indices Abstract

Within an asset management framework, such as described by ISO 55000, the role of asset condition and performance analysis is critical to success. An Asset Health Index (AHI) is an asset score which is designed, in some way, to reflect or characterize asset condition and thus likely asset performance in terms of the asset's role. A number of different approaches to generating an AHI have been proposed, and we review several here, including systems which may be: logarithmic, dynamic, weighted, or binary. Each approach has pro's and con's which are demonstrated. For a successful AHI we need to link the available raw data– whether condition monitoring or asset history or maintenance and operational data - through to likely failure modes, or issues which will affect asset performance. We…