Starting value The original measurement. This value must be provided to track degradation information. See Also On The starting date for tracking degradation on the asset. See Also Current value The current measurement value is compared with the starting value to help determine the asset’s remaining life. See Also On The date on which the current measurement was taken. See Also Minimum value The lower end of the asset’s degradation and the point at which its integrity might be endangered. The minimum value must be provided for degradation tracking. See Also FFP minimum The absolute minimum for the asset overrides the minimum value. See Also Use FFP minimum The fit-for-purpose minimum is typically determined towards the end of the asset’s life by the inspecting engineer who decides on a lower minimum than the designed rate. See Also Value The rate at which the asset is designed to degrade per year. You can change this value if required. See Also Percentage of allowance APM calculates the percentage of the degradation allowance expected per year. See Also Allowance APM calculates the remaining degradation allowance by subtracting the FFP minimum (if selected) or the minimum from the starting value. See Also Duration APM calculates the expected life of the asset, based on the degradation values. See Also End-of-life date APM calculates the asset’s end-of-life, based on the degradation values. See Also Inspection factor The factor of the asset’s remaining life to be used when calculating next-reading dates. For example, an inspection factor of “0.5” indicates that the indicator should be collected at half its remaining life. See Also Time to next inspection The frequency with which inspections should occur. See Also Expected date The date on which the next inspection is expected, based on the Current value date and the inspection factor. See Also Expected value The measurement value expected on the next inspection, based on the Current value and the predicted degradation rate. See Also
