By IBM
Publication Date: 2025-11-25 12:00:00
Use this six‑part framework to structure your AIP. It is vendor‑neutral and intentionally simple:
- Goals and measures
Align on what you care about as an organization and what can be measured based on asset attributes to quantify the impact of asset failures against those goals. For instance, a goal might be “deliver reliable service” and a measure rolling up to this goal might be “service interruption risk”.
2. Define asset risk
Typically, risk is the product of likelihood of failure (condition, loading, environment, age, duty) and consequence of failure (as defined in the goals and measures mentioned previously). Start simple: use age as a proxy for condition and evolve your approach over time.
3. Treat risk as a cost to be minimized
When assessing asset lifecycle costs, it’s common to consider acquisition, replacement, maintenance and disposal. However, it’s equally important to account for end-of-life risks. If left unaddressed, these risks can…
