ABSTRACT
Most asset deterioration tools are designed for a specific application, as a consequence, a small change of the specification may result in a complete change of the tool. Inspired by the model-based approach of separating problem specification from analysis technique, we propose a model-based asset deterioration assessment framework using probabilistic relational models. The probabilistic relational models express abstract probabilistic dependency covers a range of deterioration modelling assumptions. An expert in the domain of asset deterioration can then use his knowledge of the factors that affect deterioration to customise the abstract models to a specific application, without requiring a detailed understanding the underlying computational framework. We illustrate the use of the framework with multiple variants of deterioration models.
