Asset Health Management (AHM)
Asset Health Management refers to the process of analyzing the health of an asset as determined by operational requirements. The health of an asset in itself relates to the asset's utility, its need to be replaced, and its need for maintenance. It can be broken down into three key components: 1) Monitoring: Tracking the current operating status of the asset. 2) Diagnostic Analysis: Comparing real-time data to historical data in order to detect anomalies. 3) Prognostic Analysis: Identifying and prioritizing specific actions to maximize the remaining useful life of the asset based on analysis of real-time and historical data.