Creating a PoF type

  1. Select Asset Management > Advanced Asset Management > Risk Management.
  2. Click Create Probability of Failure Type.
  3. Specify this information:
    Probability of Failure
    Specify a name for the PoF type.
    PoF Method
    Select the method that will be used to determine the probability of failure.

    You can select one of three options: Formula, NA, and Rating. Formula indicates that Infor Operations and Regulations will use a formula to calculate the PoF. NA indicates that the PoF doesn't apply because an asset isn't expected to fail. Rating indicates that you can select the PoF from a list of values when you use the PoF type for an event type.

    PoF Formula
    If you selected Formula in the PoF Method list, enter the formula here.
    Probability of Failure Ratings
    If you selected Rating in the PoF Method list, enter the available ratings in the grid.

    Each PoF rating consists of a name, a value, and an optional expiration date. The value represents the minimum probability for the PoF name. For example, you might define a "Low" rating with a value of 0.1, a "Medium" rating with a value of 0.5, and so on.

  4. Click Save.