US Patent 7925472 Methods for asset health management and systems thereof

A method, computer readable medium, and system for optimizing utilization of one or more assets includes obtaining at least one of operational data and condition data for one or more elements of at least one of the assets. At least one of historical maintenance data and life-cycle data for the one or more elements of the at least one of the assets is retrieved. One or more diagnostics on the one or more elements of the at least one of the assets is conducted based on the obtained at least one of the operational data and the condition data. One or more prognostics on the one or more elements of the at least one of the assets is conducted based on the at least one of the obtained operational data and condition data and on the retrieved at least one of the historical maintenance data and the life-cycle data. One or more optimization instructions for the at least one asset are determined based on the conducted diagnostics and prognostics and the determined one or more optimization instructions are displayed.