Say I developed something called "Methodology for Establishing Remaining Life of Components". Basically, at work, we have components (or equipment). I wanted to develop a way to identify how much longer the components / equipment can last before they ware out and cannot be used.
It takes into account "the degree of damage currently in the component, the rate of future damage accumulation based on realistic operating scenarios, and the degree of damage required to cause failure." Taking these three into account, the remaining life of a component can be assessed. This is what I call "Methodology for Establishing Remaining Life of Components".
My question is, would this be considered a 'methodology for establishing remaining life of components' or just a 'method for establishing remaining life of components'? Or do you need more information to figure out if it is a method or methodology?
I cannot provide all the information for business purposes, but if additional information is required to figure out if it is a method or methodology, I will provide it.