When you will extend your target life of your equipment/asset, what the parameters are to be considered?

1. The current lmechanical condition of the equipment 2, The projected life of the equipment targeted as per the IRR projected at the geginning of the project report.3. The type of the maintennace to be carried out with the  project available in hand to repair the equipment .4. The resources available  i.e manpower , money and the time.