Remaining Useful Life Estimation
Combining installation age, condition, and material-specific decay curves to project when replacement becomes necessary.
Remaining useful life estimates combine an asset's age, observed condition, and a material- and service-specific expected life curve, rather than relying on a single generic lifespan assumption.
Service conditions (corrosive soil, high H2S exposure, heavy traffic loading) can shorten remaining life significantly compared to a generic material lifespan assumption, and should be factored in where known.
Remaining useful life estimates should be revisited after any condition assessment finding, since a direct inspection result is more reliable evidence than an age-based estimate alone.
A capital plan built entirely on age-based replacement, without incorporating actual condition data where available, risks both premature replacement of well-performing older assets and overlooked risk in newer assets that have deteriorated faster than expected.
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