This paper presents a methodology for advanced physics-based modeling aiming to enable the Digital Twin (DT) concept in predictive maintenance applications. The proposed methodology consists of two main pillars; Digital model creation and Digital Twin enabling. Following this procedure, which is analyzed in the paper, the user is able to define, create and utilize the digital model of a resource, as well as to enable the DT concept. A digital model of an industrial robot was created aiming to validate the proposed methodology which can be utilized potentially in predictive maintenance applications.