condition rating

A numerical value calculated by multiplying the Condition Value by Condition Priority. This value represents the condition of the asset as it relates to business purposes and is presented in the Condition Assessment Scoreboard.

The Condition Value and Condition Priority are completed by assessors in the field when examining items. Each predefined value and priority has an associated weighted multiplier that is used in the calculation.

For example, if an assessor rates an equipment item as having a Condition Priority of "Code Compliance" and a Condition Value of "Poor", the item will have a very high condition rating, indicating a serious deficiency, since both of these values have high numeric multipliers.