Strategic view of an assets health index for making long-term decisions in different industries

Abstract

An Asset Health Index (AHI) is a tool that processes data about asset’s condition. That index is intended to explore if alterations can be generated in the health of the asset along its life cycle. These data can be obtained during the asset’s operation, but they can also come from other information sources such as geographical information systems, supplier’s reliability records, relevant external agent’s records, etc. The tool (AHI) provides an objective point of view in order to justify, for instance, the extension of an asset useful life, or in order to identify which assets from a fleet are candidates for an early replacement as a consequence of a premature aging. This paper develops a model applicable to different classes of equipment and industrial sectors. A review of the main cases where the asset health index has been applied is included. Likewise, advantages and disadvantages in the application of this kind of tools are revealed, providing a guide for a research line related to the general application of this tool.