The two thirds rule of thumb emerges from typical Weibull behavior. Mechanical assets often have shape parameters (β) between 2 and 4. When service life is defined at a high reliability threshold—say, the point where 90% or 95% of units are still surviving—the ratio of mean life to service life tends to fall in a narrow band.

Across engineering, finance, insurance, and operations, at least 10 commonly used expressions of asset value are used in practice. Understanding them reduces confusion and improves decision‑making.

Treating asset valuation as a periodic, standardized engineering process mirrors the rigor of condition assessments and ensures that data remains both defensible and operationally relevant.

High-reliability organizations (HROs) build bridges between these viewpoints. They align engineering, finance, and operations so that asset decisions are defensible, practical, and focused on long-term value.

There have only been two hurricane seasons in the past 125 years that have been as quiet as this one.

Once again, you’ll need the best sources of information to tell you when it’s time to batten down the hatches or get ready to be on the move.

Developing useful predictions requires facilitators and participants to understand a handful of key concepts related to predictions, probability, and risks.

The devastation of Hurricane Helene will impact multiple generations in western North Carolina.

We are at a pivotal time in physical asset management. The nexus of technology, AI, and the new workforce makes it so.

The purpose of a useful life estimate is to determine how long an asset will remain in useable condition. "Useful life" is not the same...

Monte Carlo analysis de-emphasizes extreme events, which are usually the things that cause major projects and capital program to fail. Monte Carlo analysis has some key limitations that make the technique a major cause of concern for new project development. This article discusses four contradictions that every organization should be aware (and beware) when developing new capital programs. A balanced approach using qualitative and quantitative techniques is advised. Caveats O

The Chance of Rain Most people do not understand what the chance of rain means. Some believe it means it will rain "30% of the day,"...

Monte Carlo simulations are the best approach for assessing uncertainty for future infrastructure and facilities funding requirements....

If you are not using Monte Carlo simulations to inform your asset management decision making, then it is nearly certain that you are leaving value on the table. Understanding the total cost of ownership is a fundamental principle of asset management of facilities and infrastructure. However, all of our knowledge is about the past. All of our decisions are about the future. Monte Carlo analysis is our best tool for bridging our knowledge of the past with future uncertainties.

Hurricane tracking is very good these days, especially in forecasting storm intensity and location two to seven days in advance....

The most significant value is the holistic relationships of the inputs because all of the inputs must make sense independently and together.

Drinking treated wastewater is still a few years away because there is not enough demand for it. The technology exists that makes it...