Life of Type (LOT) and System Aging Analysis

All systems need to be replaced when they are worn out, Life of Type (LOT) describes how long a particular system will remain operationally functional (in a cost-effective way) until it needs to be upgraded or replaced.

A Life Of Type analysis can look at a number of trends which will trigger capital replacement. These include:

  • Cost of maintenance becomes excessive
  • Cost of replacement becomes attractive
  • Change in the user requirement from the equipment
  • Repair part obsolescence
  • Increased productivity/capability from newer equipment (technology obsolescence)
  • Tradesmen support requirements exceed capability.

A crucial aspect of asset management is getting the LOT right: a lot of money can be lost if it is not done at the correct timing. In order to optimise this decision, system aging analysis needs to be conducted. By building a profile of equipment performance as it ages, a trade off between capital replacement and continued sustainment can be made.

System aging analysis achieve a number of further outcomes such as:

  • Determine why the system is becoming ‘old’ in the first place, meaning that steps can be taken to extend the LOT.
  • Quantify the increased cost of maintaining an aging fleet
  • Determine the difference of aging characteristics between locations / variants / production lots / manufacturers, etc

Acuitas can assist you in all aspects of LOT and system aging analysis.