Asset condition assessment by health index benchmarking

The purpose of asset condition assessment is to find and quantify a long term degradation process with pretension to provide a method for the remaining life estimation. This entails termination of high risk units or, in other words, units at the end of their operating life that will require higher capital expenditures, repair, replacement or removal of an entire unit With the ongoing process of reconstruction and privatization, which transform power energy industry into profit oriented companies, more and more distribution utilities all over the world accept and adopt the “health index” concept in order to measure and control asset conditions. The score system or the so-called health index benchmarking, presents a modern method to provide and quantify periodic tests findings, operation inspections, in situ testing and laboratory testing into an objective and quantified picture. Asset condition indexing provides precise indication of assetfailure probability and accompanied risks. Afterwards asset condition index was placed, due to actual terms, it is possible to predict its change or prospective asset health index considering change in environment or operating conditions as far as execution of certain preventing maintenance activities.