Condition monitoring is the ongoing observation and inspection of equipment to identify problems before they cause failure. Visual inspection is the most cost-effective method, but more advanced methods like thermography and oil analysis can also be used. Regular monitoring and maintenance can reduce downtime, repair costs, accidents, and provide accurate budgeting. It is best suited […]
A statement of condition is a summary of the financial state of a business or entity divided into assets and liabilities. It determines net worth and can be required for loans or mergers. It is also helpful for periodic reviews of a company’s financial situation. A condition statement is a document that summarises the […]
