EEA Electricity Engineers' Association

Asset Criticality (Guide)

2019

Note: File may be downloaded after completion of your purchase.

As asset management practices have evolved and matured since the publication of the 'Asset Health Indicator (AHI) Guide' (published in January 2016 and revised in April 2019), there has been an increasing discussion and focus on criteria for criticality of assets to enable improvements in asset management practices and provide a more granular understanding of investment/quality linkages, resilience and where to target future investment.

Purpose of the guide

The purpose of the guide is to provide a methodology to categorise consequences of failure. When combined with a view of asset health, this will better inform renewal decisions. It will also provide a means of representing the risk profile of a population or fleet of assets.

This guide has been produced with the following objectives:

• Provide a relatively simple, low overhead approach for evaluating asset criticality and risk. This can be used by any user, but also paves the way for more sophisticated or novel approaches if there is a need for better accuracy and insight.
• Provide a common industry-wide approach to present the risk profile of asset fleets. This can be used by asset managers to justify or demonstrate the improvements in risk profile that could be brought about by intervention investments.

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