The quantified approach for health monitoring of subsea pipelines has been proposed, it considers four key time based degradation parameters selected from an array of mechanisms due to its ramification in deterioration and ageing of pipeline assets in general. The inspection data obtained for the selected parameters are simulated in a proposed health condition and pipeline risk assessment matrix that complies with tested and verified safe operating criteria defined in relevant pipeline integrity technical guidance documents. The health indicator denoted by H and H-Cn for annual assessment and cumulative lifespan assessment respectively. This 'prescriptive' approach is tested with a health condition assessment indicator and a quantified model to determine the pipeline integrity status for decision-making. It is evident from the findings that a cost effective integrity management model which improves on the existing qualitative and semi quantitative assessment methods can simplify and also reduce cost of pipelines integrity management.