Priority Ranking Calculation
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To calculate priority ranking, the asset's estimated OCI and adjusted criticality factor are added together after being multiplied by their corresponding weights.
The difference in the calculation between Lowest Estimated OCI and Highest Estimated OCI is whether the OCI is subtracted from 100 or not.
- For Lowest Estimated OCI, OCI is subtracted from 100 to represent how far from an OCI of 100 the asset is, making assets in worse condition have a higher value.
- For Highest Estimated OCI, OCI is used as-is since it already represents how far along the 0-100 OCI scale the asset is and assets in better condition will have a higher value.
The Criticality Factor, regardless of the parameters and values defined by the customer, is also set on a 0 to 100 scale. An asset's criticality factor is divided by the highest defined criticality factor for that asset type, then multiplied by 100.
Calculation when Sequence Type is Asset Criticality and Lowest Estimated OCI (Do Worst First):
Priority Ranking = ((100-[Beginning of Plan Year OCI]) * [Estimated OCI Weight]) + ((([Criticality Factor]/[Max Criticality Factor For the Asset Type])*100) * [Asset Criticality Weight])
Calculation when Sequence Type is Asset Criticality and Highest Estimated OCI (Do Best First):
Priority Ranking = ([Beginning of Plan Year OCI] * [Estimated OCI Weight]) + ((([Criticality Factor]/[Max Criticality Factor For the Asset Type])*100) * [Asset Criticality Weight])
Fields Involved in the Calculation:
Recordset |
Name |
Description |
---|---|---|
Scenario/Activity List |
Priority Ranking |
The result of the calculation is stored here. This value is only calculated if the sequence type requires it, else the field value is null. The Priority Ranking is recalculated at the beginning of each plan year to reflect changes to the asset's Estimated OCI. |
Scenario |
Activity Sequence |
Input field on the Scenario to determines if Priority Ranking is needed and which calculation to use. |
Scenario |
Asset Criticality Weight |
User input field on the Scenario. The weight to apply to the Asset's Criticality Factor. If this weight is higher than Estimated OCI Weight then the Criticality Factor is considered more important and have more effect on the priority ranking value than Begining of Plan Year OCI. If the wieight is zero, Estimated OCI is ignored in the calculation and Priority Ranking is based strictly on Asset Criticality. If the weight is zero, Estimated OCI is ignored in the calculation and Priority Ranking is based strictly on Asset Criticality. If the weight is null, Estimated OCI is treated as if it has no weight (which is equivalent to a Weight of 1) and continue to be used in the calculation for Priority Ranking. |
Scenario |
Estimated OCI Weight |
User input field on the Scenario. The weight to apply to the Beginning of Plan Year OCI. If this weight is higher than Asset Criticality Weight then the OCI will be considered more important and will have more affect on the priority ranking avlue than Asset Criticality.If the weight is zero, Estimated OCI will be ignored in the calculation and Priority Ranking will be based strictly on Asset Criticality. If the weight is null, Estimated OCI will be treated as if it has no weight (which is equivalent to a Weight of 1) and will continue to be used in the calculation for Priority Ranking. |
Asset |
Criticality Factor |
If an asset's Criticality Factor is null or zero, the criticality portion of the calculation will calculate to zero and the asset's Priority Ranking will be strictly based on its Estimated OCI and associated wight. It is still possible for activities to be recommended for this asset. |
NA |
Beginning of Plan Year OCI |
The Estimated OCI value on the first day of the plan year for this asset. This calculation is re-run for each plan year, so the priority ranking value will likely change each plan year for the asset as its Estimated OCI changes. If an asset's estimated OCI is null or could otherwise not be calculated, the OCI portion of the calculation will calculate to zero and the asset's Priority Ranking will be strictly based on its Critcality Factor and associated weight. Additionally, since activity triggers are based on OCI range and the asset's OCI could not be determined, no activities will be recommended for this asset. |
NA |
Max Criticality FActor for the Asset Type |
The maximum possible value for Criticality Factor for the asset, inclusive of all assets of this type, even ones that are not included in the scenario. The system looks at all the Criticality Factors for all the assets of this type, identify the highest value, and set that as the Max Criticality Factor for the Asset Type; the minimum criticality factor is always assumed to be zero. This information is used to reduce the Criticality Factor value to percentage. This forces both asset criticality and OCI to be on a 0-100 scale, and comparable. If the Max Criticality Factor for the Asset Type is null or zero (all assets have a Criticaly Factor of null or zero), then the criticality portion of the calculation is ignored and Priority Ranking is based strictly on Estimated OCI for all assets of that type. |