
Introduction to RAM Models and Criticality Analysis
Building a Reliability, Availability and Maintainability (RAM) model can provide numerous benefits to an Asset Management program. This includes conducting a Criticality Analysis. Criticality Analysis involves ranking assets based on their potential risk to the organization. It considers risk categories such as Production Impact, Safety, Environment, and Reputation, amongst others. The category list can vary and is a reflection of the organization’s structure. Organizations generally have a finite financial pool allocated to preserving asset function. A Criticality Analysis helps optimize the allocation of resources to each asset according to its importance in the system network. Ultimately this helps maximize revenue, minimize spend and maintain the organization’s license to operate.
[Read more…]












