Business Assets · Lifecycle · Component
The replacement schedule
When each asset is expected to be replaced, set at acquisition so that replacement is planned rather than triggered by failure.
The deliverable
What it is
A replacement date set at purchase produces a planned replacement. One decided later is decided during an outage, at a price set by urgency.
The date is an expectation rather than a commitment. It exists to put the decision in a budget cycle rather than in an emergency.
One level in
What it is made of
Each element is a constituent part of the component. Follow one to see the attributes it carries.
The expected life
How long the asset is expected to serve, set when it is acquired.
3 attributes: Expected life · Expected replacement · Basis
LearnThe condition
How the asset is actually holding up against the expectation.
3 attributes: Condition · Failure rate · Assessed
LearnThe plan
What happens at replacement — the successor, the budget, the transition.
3 attributes: Budgeted · Transition · Owner
Learn
A replacement date with no budget line behind it becomes an emergency purchase in the year the budget said no.
The other components in lifecycle
The lifecycle cost model
What an asset costs across its whole life, which is usually several times its purchase price.
LearnThe disposal procedure
What happens when an asset leaves — data, regulation, contracts and record, in an order that does not depend on who is doing it.
Learn