Abstract
Abstract The unexpected failures, the down time associated with such failures, the loss of production and, the higher maintenance costs are major problems in any process plant. Risk-based maintenance (RBM) approach helps in designing an alternative strategy to minimize the risk resulting from breakdowns or failures. Adapting a risk-based maintenance strategy is essential in developing cost-effective maintenance policies. The RBM methodology is comprised of four modules: identification of the scope, risk assessment, risk evaluation, and maintenance planning. Using this methodology, one is able to estimate risk caused by the unexpected failure as a function of the probability and the consequence of failure. Critical equipment can be identified based on the level of risk and a pre-selected acceptable level of risk. Maintenance of equipment is prioritized based on the risk, which helps in reducing the overall risk of the plant. The case study of a power-generating unit in the Holyrood thermal power generation plant is used to illustrate the methodology. Results indicate that the methodology is successful in identifying the critical equipment and in reducing the risk of resulting from the failure of the equipment. Risk reduction is achieved through the adoption of a maintenance plan which not only increases the reliability of the equipment but also reduces the cost of maintenance including the cost of failure.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: Journal of Loss Prevention in the Process Industries
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.