Aging and degradation, their detection and monitoring & asset management

In this paper the basic management tools for asset and risk management were discussed. The structure and processes of asset management were shown. By the means of a risk matrix a good overview about the structure of the observed network is possible. For the equipment of high risk different measures can be applied to handle the risk. Besides preventing also reducing, transferring and finally accepting were usual methods to manage the demands of risk. The failure probability can be determined by technical diagnostics and condition evaluation as well as statistical lifetime estimation. For the statistical analysis the bathtub curve and Weibull distribution is applied. Within risk controlling the success of each measure can be observed. Equipment of high risk should be shifted to areas of better condition or lower failure impact.