To increase reliability, you need to decrease the chances of failure occurring. Each chance of failure creates risk. Operating risk can be mitigated and managed by meeting all 15 Precision Maintenance excellence targets.

This list of precision maintenance excellence targets is how to ensure component parts, and the equipment they are in, always operate with optimal reliability. Each requirement must be met to the highest standard. By doing this your equipment and machinery are operating with the least microstructure stress possible and getting utmost reliability.

Here is a great example from an industrial operation of a maintenance procedure using an Accuracy Controlled Enterprise (ACE) 3T standard operating procedure (SOP) format. To make it better would need photos and/or videos included for critical tasks. 3T stands for Target-Tolerance-Test, which are the minimum criteria needed to specify maintenance task quality and prove compliance. The 3T’s are a simple maintenance work quality assurance technique we invented to maximise the chance of doing outstandingly high-quality maintenance work that brings you outstanding plant and equipment reliability.

Enterprise Asset Management and Maintenance will Always be Spectacularly Unsuccessful at Delivering Failure-Free Equipment, Until you Change to an Equipment Wellness Paradigm

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The role of Maintenance is to eliminate operating equipment risks. Yet, organizations using Preventive and Predictive Maintenance strategies still have equipment breakdowns. They still have forced outages and stoppages. They consistently get emergency repairs. So, what makes today’s Maintenance paradigm so unsuccessful at equipment risk elimination? Because it is the wrong paradigm to use. The right mindset to have is an equipment wellness paradigm!

Is there a percent of replacement asset value benchmark for run and maintain capital expenditure?

Replacement asset value (RAV) is a performance indicator of expenditure related to the operation and care of the plant or equipment vs. CAPEX expenditure needed to replace the plant or equipment. Many people ask if there is a replacement asset value benchmark for the operating cost. 

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An Executive Report for CEO’s, Executives, and Senior managers in industry and manufacturing.

Utmost operating profits, lowest maintenance costs, world class reliability, & outstandingly effective physical asset management the Plant Wellness Way

Let a Plant Wellness Way EAM System-of-Reliability halve your Annual Maintenance Costs

In the Plant Wellness Way (PWW) you do nothing to your business until you have total confidence that what you do, and how it will be done, will be extraordinarily successful.

The Rate of Occurrence of Failure (ROCOF) curve is the sum of all the individual component failure curves across the service life of an asset. As shown below, it looks like a bathtub, giving it the nickname, a bathtub curve.

Equipment reliability is malleable by choice of policy and quality of practice.