4: Deterioration Modeling
- Page ID
- 21130
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- 4.4: Markov Deterioration Models
- Markov deterioration models are used in numerous asset management software programs. Markov models can readily accommodate the use of condition indexes with integer values and deterioration estimation for discrete-time periods such as a year or a decade. As a result, Markov models can be combined with typical condition assessment techniques and budgeting processes.