Prognostics and System Health Management

Prognostics and Health Management (PHM) is an engineering discipline that takes past, present and (predicted) future information on the conditions of an equipment and use it to detect degradation, diagnose faults, and predict failures. PHM results are, then, used to guide effective condition-based and predictive maintenance strategies for increasing productivity, optimizing operating performance, reducing lifecycle costs, extending operating periods between maintenance and reducing downtimes, frequency and severity of unanticipated failures.