Failure Probability Multiplier

The Failure Probability Multiplier represents the increased likelihood of failure of an asset with degraded condition over the predicted failure probability based on the age of the asset. It is calculated by dividing the probability of failure calculated from the health index by the probability of failure based on age calculated from the failure curve.

  • If the multiplier is smaller than 1 then only the Failure Probability based on age is used in the calculation of Risk.
  • If the multiplier is larger or equal to 1 then the Failure Probability based on age multiplied by the Failure Probability Multiplier is used in calculation of Risk.

Continue to consequence of failure.

 

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