Equipment objects can be of two different types, functional or serial. Both will be in a certain health at any given moment in the equipment's life time. With Asset Health it is possible to add a number of indicators that will be weighted together to an Asset Health score for the specific equipment. Indicators can typically be age, condition score and parameters such as temperature and vibration.
A number of indicators are added to an Object Type. These are weighted together to get the Asset Health. In the Asset Health Configuration page it is possible to define the ratings for each indicator, i.e. the values that are used to calculate the Asset Health depending on reported meaurements. It is also possible to define the different Health Levels for visualization in various pages.
All equipment objects that have the object code will have the same equation for calculating Asset Health.
As a default the Asset Health is scheduled to be calculated once a day, with a scheduled task. This can be changed to other intervals. It is also possible to trigger the calculation manually.
By taking the reported normalized value times the weight for each
indicator
and adding them all together you will get a value of how degraded your
asset is. Asset Health will be the inverted value of
this.
100-(A*X+B*Y+C*Z...)=Asset Health
| Indicator Description | Reported Value | Normalized Rating | Weight |
| Age | 20% (of expected lifetime gone) | 20 | 40 |
| Temperature | 300°C | 35 | 60 |
Asset Health will be 100 - (20 * 0.40 + 35 * 0.60) = 71 which should be interpreted as the equipment being in 71% good health.
Depending on the indicator, there are different ways to report values. Age is updated every day as the equipment gets older, parameters are reported for each object and condition score is calculated based on the reported condition parameters.
When using the same parameter more than once on the same object, the Asset Health calculation will use an average value. The normalized value will come from each parameter and then combined to an average value. The actual reported measurement will be saved as an average value. If this is not acceptable it is recommended to use two different parameters, example TEMP-IN and TEMP-OUT instead of using TEMP twice.