A Framework for Assessment of Technological Readiness Level (TRL) and Commercial Readiness Index (CRI) of Asset End of Life Strategies
A substantial number of industrial assets within the manufacturing, power generation, transportation, oil and gas, petrochemical processing, mining and construction sectors are facing operation beyond their anticipated design life and will be in need of intensive maintenance services in the coming years. At the end of an asset's design lifetime, the operators must make a decision on either rejuvenating the components through life extension solutions or decommissioning the asset. This means that life extension policies (e.g. remanufacturing, reconditioning, repurpose, retrofitting) and decommissioning strategies (e.g. recycling and disposal) will continue to play a crucial role in the future management of industrial assets. However, some of the End of Life Management Strategies (ELMS) or their emerging technologies may not be mature yet, and therefore application of such strategies can cause extensive uncertainties. A well documented Technological Readiness Level (TRL) and Commercial Readiness Index (CRI) for these strategies and related technologies will be a key in reducing the uncertainties involved in implementing ELMS in various industries. This paper aims to propose a systematic framework consisting of six different processes to help asset managers evaluate the TRL and CRI of different ELMS and their corresponding technologies. An essential part of developing this framework is the strong collaboration among academics and industrial experts with several years of experience in undertaking life extension and decommissioning projects. For purpose of illustrating the model, a case study involving end of life strategies of wind turbines is provided and the results are further discussed. The data required for this study is collected from various sources, including the published literature and industrial reports as well as by surveying academic and industrial experts. The results of this study indicate that TRL and CRI assessments are not only an effective means of evaluating the technological status of different ELMS but also a means for risk management decision making.