Confidence factor The confidence factor represents the analysis team’s faith in current maintenance or inspection practices to contain the failure mode’s risk. The confidence factor can adjust the inspection factor or likelihood of failure up or down. See Also Name Team member’s name. See Also Inspection matrix Inspection interval factor assigned to the combination of degradation type, criticality, and confidence factor. This factor defines the inspection factor and whether inspections, strategy, and no inspections are allowed. See Also Inspection factor An inspection factor is the portion of the asset’s remaining life calculated for the current degradation rate to be used when calculating indicator collection dates. For example, an inspection factor of “0.5” means that the indicator reading should be collected at half of remaining life. The greater the confidence factor, the higher the inspection factor, meaning that the interval between inspections is greater. The inspection factor is based on the confidence factor, degradation type, consequence priority (criticality), and (optionally) integrity group of the failure mode. See Also Inspection strategy The inspection strategy describes the action to be taken for this combination of degradation type, criticality, and confidence factor. An example is “Maintain current inspection / monitoring”. See Also
