In present economic scenario of competitive market, maintenance organizations of any manufacturing organization can't afford not to implement a Reliability-Centered Risk Management program. Maintenance is one of the last frontiers in a company's battle to improve bottom line profitability and gain a competitive advantage in their respective market segments.
Increasing reliability and reducing risk lowers the total cost of asset maintenance, lowers production costs and increases plant capacity and increases contribution margin exactly what today's companies need.
In spite of this, maintenance organizations often don't include Risk Management as part of their overall reliability program even though it's considered a sub component of Reliability-Centered Maintenance. Usually this is because organizations either don't understand its concepts or fully appreciate what Risk Management can do for them.
Risk Management compliments Reliability-Centered Maintenance by helping classify the criticality of equipment for example - PSM Critical equipment in the context of process industry; the most likely modes of failure; the effects these failures might have on equipment, the environment, and personnel; and what critical spares will be required in the event of a failure. It would be nearly impossible to develop a sound maintenance strategy without taking risk into consideration. Therefore managing risk is an essential component of a reliability program.
Reliability-Centered Risk Management strives to restore the balance between managing reliability and risk.
Reliability-Centered Risk Management program helps organizations achieve all of the benefits and potential of a well-rounded, comprehensive proactive maintenance program, including:
• Increased equipment availability
• Increased production capacity
• Reduced spare parts inventory
• Reduced work in process inventory
• Extended equipment life
• Reduced risk of failure
• Lowest total cost of equipment
• Increased morale
• Equal focus on production, the environment, and worker health and safety
• And more?
Increasing reliability and reducing risk lowers the total cost of asset maintenance, lowers production costs and increases plant capacity and increases contribution margin exactly what today's companies need.
Is Reliability Without Risk?
Everyone considers Reliability-Centered Maintenance must do to effectively manage asset repair costs and increase overall plant efficiency. Reliability-Centered Maintenance has long been recognized as the most proactive maintenance method because it incorporates all of the best practices of traditional maintenance into a single, harmonious and complimentary program.In spite of this, maintenance organizations often don't include Risk Management as part of their overall reliability program even though it's considered a sub component of Reliability-Centered Maintenance. Usually this is because organizations either don't understand its concepts or fully appreciate what Risk Management can do for them.
Risk Management compliments Reliability-Centered Maintenance by helping classify the criticality of equipment for example - PSM Critical equipment in the context of process industry; the most likely modes of failure; the effects these failures might have on equipment, the environment, and personnel; and what critical spares will be required in the event of a failure. It would be nearly impossible to develop a sound maintenance strategy without taking risk into consideration. Therefore managing risk is an essential component of a reliability program.
Reliability-Centered Risk Management strives to restore the balance between managing reliability and risk.
Reliability-Centered Risk Management program helps organizations achieve all of the benefits and potential of a well-rounded, comprehensive proactive maintenance program, including:
• Increased equipment availability
• Increased production capacity
• Reduced spare parts inventory
• Reduced work in process inventory
• Extended equipment life
• Reduced risk of failure
• Lowest total cost of equipment
• Increased morale
• Equal focus on production, the environment, and worker health and safety
• And more?
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