Forced rank methodologies to more efficiently perform criticality analysis

An alternate method for conducting asset criticality ranking for use on industrial assets and public infrastructure can result in staff time savings of up to 70% as compared to traditional methods, which are time consuming and sometimes misleading. The methodology proposed in this paper does follow many of the traditional approaches, including the use of cross-functional teams. Its primary differences are related to the use of preference ballots for system level evaluation and the subsequent use of a function-based scoring system at the asset level. The authors suggest that the uses of a relative asset criticality ranking as it applies to industrial assets and public infrastructure does not require the detailed and time consuming analysis that has been traditionally promoted.