TT Talk - January 2025: Criticality assessment

Asset criticality assessment provides the foundation for wider strategic asset management planning (SAMP) and provides an organisation with a semi-quantitative model to evaluate and score how an in-service failure of an asset can impact operational performance across the entire organisation’s portfolio of assets. Providing decision-making insight for asset managers and budget holders within an organisation, this process whereby asset management meets risk management should be the very first step in the development of a SAMP.