Type Examples of degradation types are age-related, non-age-related, and strategy-based. See Also Failure mode criticality Criticality (or risk) is determined by the combination of the likelihood of failure and the severity failure consequences. Criticality is either calculated during a risk analysis or manually assigned. See Also 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 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 interval An inspection interval is the period of time (usually years) between regularly scheduled inspections. Intervals are typically used with failure modes for assets prone to non-age related degradation, where process monitoring is more effective in avoiding degradation. 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 Description The description of the item. You can use this box to include any additional details.
