Sustainable Asset Management: Introducing a Framework for Lifetime Extension

Extending asset lifetime is increasingly recognized as a fundamental sustainability expectation, contributing to the conservation of material and energy resources. The growing business interest in sustainability is driving momentum in this area, supported by emerging experiences, innovative technologies, evolving definitions, new standards, and regulations. This paper aims at proposing a framework that enhances the consistency of this approach. The framework will be illustrated through case studies involving real electrical products used in safety applications.

Keywords: Asset management, Useful life, Digital twin, Sustainability, Artificial intelligence, Expert views, Standardization, Ex-ante, Ex-post, Salvage value, Predictive maintenance, Electrical power industry.