Time based vs Condition based Maintenance

[ww2i]

What criteria would you use to justify changing an equipment maintenance strategy from time-based to condition-based maintenance?

[neo]

The strongest justification of moving from time based to condition based typically combines three major pillars:
Reliability evidence (historical failure data and degradation trends),
Risk reduction (improved safety, environmental protection, and production availability), and
Lifecycle cost optimization (lower total cost of ownership through fewer unnecessary interventions and reduced unplanned outages)