Abstract: The invention is a method and apparatus containing virtual processing components to calculate the potential economic savings from conducting an inspection to make an “informed” maintenance decision as to the actual state of a building component, rather than projecting the cost based on historical inspection data and making an “uninformed” decision. The invention produces a Value of Inspection (VOI) index for each proposed future inspection which may be compared to a threshold (such as the cost of inspections) to determine if an inspection is warranted. The time at which an inspection is performed can also be optimized by comparing VOI's for multiple proposed inspection dates.

Abstract: A method of improving a prediction of the remaining service life of a managed asset or a component of said asset by providing an adjusted Condition Index Curve using inspector applied expert knowledge.

Abstract: Initial assumptions related to the service life of a particular item, such as a component section of a building, are mathematically modeled to construct an initial lifecycle condition relationship as condition index (CI) v. time. To update the model, empirical data may be input at any time. As modeled in an engineering management system, for example, inspections are performed on the item to verify actual condition with that predicted. Quantitative inspection data are then used to update the initial curve. As inspections are performed and data recorded, the curve is updated to accurately capture observed condition and provide realistic estimates of predicted condition, and expected service life. In select embodiments of the present invention, empirical data, such as that from inspections, are weighted, e.g., inspection data may be weighted based on type, level of detail, time in service, time since last inspection and the like.

Abstract: A top-down tiered process establishes an objective measure of the functional capacity of an asset to address a specified use. The process comprises: developing Issue Categories and lists of functional impact Sub-issue Types and specific issues under each type that may impact functionality of the asset for a specified use; providing the list to evaluators; employing evaluators to evaluate functionality, evaluators assigning a numerical Severity measure to each Sub-issue Type present during the evaluation; recording occurrences of issues under each Sub-issue Type discovered, summing occurrences to determine a Density of each Sub-issue Type; recording the evaluation in one or more engineering management systems (EMS); and using the recorded evaluation, calculating a value to be inserted on a numerical scale as a functionality index, FI. In select embodiments of the present invention, a numerical scale is used with values from 0-100.