The need for aggregated indicators in performance asset management

Composite indicators formed when individual Indicators are compiled into a single index. A composite indicator should ideally measure multidimensional concepts that cannot be captured by a single index. Since asset management is multidisciplinary, composite indicators would be helpful. This paper describes a method of monitoring a complex entity in a processing plant. In this scenario, a composite use index from a combination of lower level use indices and weighting values. Each use index contains status information on one aspect of the lower level entities, and each weighting value corresponds to one lower level entity. The resulting composite indicator can be a decision-making tool for asset managers.