Asset Failure Risk-based Optimal Asset Replacement Scheduling

Reliabilityweb.com
28 April 2023
Asset Failure Risk-based Optimal Asset Replacement Scheduling

content.jwplatform.com

MaximoWorld Presentation (46:32)

by Jayant Kalagnanam, IBM T.J. Watson Research Center

We introduce a general framework for asset investment optimization for a group of geographically distributed assets over a time horizon. This enables a systematic evaluation of asset condition (i.e., failure risk) and replacement strategies to optimize capital allocation and operational expenses.