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A classification framework is then proposed to support life extension decision making process with respect to the type of asset and industry sectors where the concept of life extension has been of interest, condition assessment techniques used for qualification of assets for life extension, life prediction models, life extension strategies, etc.
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The model is applied to support the life extension decision-making procedure for water deluge systems in offshore oil installations.
Most of the existing life extension decision-making models are restricted solely to either "technical" or "economic" feasibility analyses that may lead to inaccurate results or incorrect conclusions.
The current key issues in relation to the subject are outlined and the strengths and weaknesses of existing life extension decision-making tools are highlighted.
The proposed literature classification and analysis can help asset owners, asset managers, service providers, stakeholders, public policy-makers, environment protection authorities, and regulatory bodies gain valuable insights on asset life extension decision-making procedures and methodologies.
Accurate prediction of hygrothermal behavior in the concrete is vital requirements to make more realistic service-life extension decisions.
Understanding and predicting elastic properties and fracture of hydrating cement paste are challenging tasks due to its complex microstructure, but important for durability assessments and life extension decisions.
Although transit planners cannot control the interest rate, sensitivity analysis can show them how extension decisions are affected by interest rates.
Going in the other direction, the Dutch government tightened in 2009 the rules under which firms can get exemptions from extension decisions.
Estimating the remaining useful life of plant assets and making asset life extension decisions are complex tasks, however the risks associated with these activities can be managed if the organisation adopts an asset management approach.
Keeney and Raiffa's [23] seminal book on MCDA defines this as "an extension of decision theory that covers any decision with multiple objectives.
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CEO of Professional Science Editing for Scientists @ prosciediting.com