Remaining useful life estimation for informed end of life management of industrial assets: A conceptual model

Abstract

The management of the End of Life phase of the lifecycle of industrial assets is more and more a relevant issue for companies dealing with aging assets. This paper provides a conceptual model that includes different aspects that should be considered by a comprehensive methodology to support an informed decision-making process in this regard. In particular, the work stems from the need of estimating the Remaining Useful Life (RUL) of an asset, for defining an Ageing Asset Strategy, through a multi-disciplinary approach instead of a purely technical one. To this end, the proposed model highlights the different End of Life types of an asset that should be considered for comprehensive RUL estimation methodology.