Analytics Methodology

The expected outcome of the risk assessment is based on the calculation of the following indexes for each asset:

• Heath Score (Condition of the asset) and Health Index (HI)

• Criticality Index (CI)

• Risk Value based on previous HI and CI

The calculation of the health index takes place by asset category and also for each of the physical asset units installed individually in the network. Therefore, the brand, model, of the asset is especially relevant, among other relevant variables.

The Health Score and Health Index are typically calculated with the expected asset category life and reliability factor, in addition to other asset properties such as: location factor, duty factor (based on asset utilization), observed and measured conditions (inspections), history of corrective measures (interventions), switching history, asset age, etc. For calculation of the Criticality Index, the following are used: impact on security, environmental impact, network performance consequences, replacement time and cost, etc.

This information enables your organization to establish preventive measures that prioritizes maintenance actions based on risk that is a combination of the asset health, the asset health deterioration trend, and the impact of potential asset failure. When these risk profiles are augmented with the consequence of failure costs, it gives you valuable data for improved decision making.

Application of this framework provides a Risk Assessment Matrix per each asset.