Risk Management in Maintenance: Focusing on Reliability

Solution

You can manage risk by influencing when, why and how assets fail—and preparing for when they do. If your maintenance organization is more proactive, you can strive for higher availability, lower costs and longer asset life. Assets may fail but not catastrophically.

Applying risk management in maintenance by integrating methodologies like reliability-centered maintenance (RCM) and risk-based inspection (RBI) will help you reduce downtime, increase cost effectiveness and prolong asset life. You can also improve safety and compliance with regulations. Read more
In managing risk proactively and comprehensively, you could:

• Develop risk-based solutions for every asset;
• Drive asset performance;
• Ensure equipment reliability at the lowest possible cost;
• Improve resource planning; and
• Manage physical and economic risks throughout the asset life cycle.

Service

People and Processes can help you improve productivity and profitability by learning and applying best practices in the following risk management methods, through our training, coaching and consulting services.

Asset condition management
Accurately assess asset health by comparing actual key indicators to targets. Then prioritize maintenance accordingly. Read more
Reduce costs and increase overall reliability by establishing asset maintenance priorities. Review equipment from a criticality perspective, monitor its condition and maintain it with PM and PdM.

RCM2
People and Processes utilizes a hybrid of the various RCM2 methods to yield a complete and comprehensive solution Read more
Find the functional failures that are not obvious by using reliability-centered maintenance. These hidden potential failures are the ones that will cost the most money and appear at the worst times.

RCM3
RCM3 integrates with other business-risk management systems, allowing you to cover all of your assets with a single methodology. Read more
Improve process safety and asset integrity through a risk-based methodology that preserves functionality, quality and environmental integrity.

Reliability-centered design (RCD)
Optimize equipment reliability and all of the business processes that are required to make any new project successful by approaching failure management holistically. Read more
Evaluate engineering designs for integrity, reliability, and operability, focusing on your organization's business objectives.

Risk-based inspection (RBI)
Manage and address risks related to unanticipated failures of static equipment. Read more
Rank equipment by relative risk, identify risk drivers and integrate RBI with other risk-based approaches.