FREE copy of the Uptime Elements Implementation Guide once you subscribe to Reliability Weekly

Proving out new methodology estimated to reduce facilities’ reliability spending by 10% to 30%


PASADENA, TX – Pinnacle, the world’s leading provider of data-driven reliability and integrity programs, today introduces an improved approach to reliability modeling, called Quantitative Reliability Optimization (QRO). This new approach streamlines current reliability methodologies into a single, comprehensive analysis, empowering leaders in processing industries to make smarter decisions at a lower cost.

“QRO methodology will be instrumental in taking reliability performance to the next level,” said Ryan Sitton, founder and CEO of Pinnacle. “Throughout the development of QRO, we’ve worked with top performers from a variety of processing industries to test the foundation of QRO and have already seen the significant impact that this approach has on equipping facilities to make better reliability decisions. As we continue to validate QRO methodology, we invite other industry leaders to participate by working with us to improve reliability across the world.”

QRO links every relevant reliability data point to the facility level and provides for advanced simulation of reliability investment and associated reliability performance. Because everything is related in one powerful model, a reliability or operational leader can leverage the approach to optimize all reliability and maintenance investments to hit specified future reliability and process safety targets.

“On average, facilities waste between 10% and 30% of their maintenance spend on activities that do not directly impact the reliability of their facility,” said Jeff Krimmel, director of market and data analysis for Pinnacle. “As facilities continue to heavily scrutinize their annual spending, QRO is the exact methodology they need to confidently identify and extract areas of wasted budget.”

Successfully deploying QRO will allow companies to make near real-time decisions by understanding the reliability implications of changes in process, economics, operations or maintenance. In addition, QRO will provide common reliability language between field workers, engineers and corporate executives, which help facilities better align and increase bottom-line value.

“So much has changed in the industry since we developed the API RP 581 approach in the early 1990s,” said Lynne Kaley, vice president of research and development. “It’s imperative reliability models advance along with technology to increase bottom-line value for processing industries. QRO can leverage a seemingly endless supply of data already coming into process facility systems and perform the more detailed analyses needed to attain insights and make better reliability decisions and associated plans.”

For more information on QRO, download Pinnacle’s Executive Brief.

###

About Pinnacle

Headquartered in Pasadena, Texas, Pinnacle is exclusively focused on helping industrial facilities in the oil and gas, chemical, mining, and water and wastewater industries better leverage their data to improve reliability performance, resulting in increased production, optimized reliability and maintenance spend, and improved process safety and environmental impact. Pinnacle is privately held and has been consistently recognized for its growth by Inc. Magazine, the Houston Business Journal, and more. For more information, visit pinnaclereliability.com.

Upcoming Events

August 8 - August 10, 2023

Maximo World 2023

View all Events
banner
80% of Reliabilityweb.com newsletter subscribers report finding something used to improve their jobs on a regular basis.
Subscribers get exclusive content. Just released...MRO Best Practices Special Report - a $399 value!
DOWNLOAD NOW
Internet of Things Vendors Disrupting the Asset Condition Management Domain at IMC-2022

Internet of Things Vendors Disrupting the Asset Condition Management Domain at IMC-2022 The 36th International Maintenance Conference collocated with the RELIABILITY 4.0 Digital Transformation Conference [East]

Asset Management Technology

The aim of the Asset Management technology domain is to assure that IT/OT systems are focused on creating the value from the assets and that the business can deliver to achieve organizational objectives as informed by risk.

TRIRIGAWORLD AWARDS at MaximoWorld 2022

TRIRIGAWORLD AWARDS honors excellence in space optimization and facility management, A Reliabilityweb.com event to further advance asset management

IMC-2022 Who's Who: The World's Best Run Companies

The International Maintenance Conference (IMC) provides a fresh, positive community-based curated experience to gain knowledge and a positive perspective for advancing reliability and asset management through people, their managers, the strategy, the processes, the data and the technology. The world’s best-run companies are connecting the workforce, management, assets and data to automate asset knowledge that can be leveraged for huge beneficial decisions.

Uptime Elements Root Cause Analysis

Root Cause Analysis is a problem solving method. Professionals who are competent in Root Cause Analysis for problem solving are in high demand.

Reliability Risk Meter

The asset is not concerned with the management decision. The asset responds to physics

Why Reliability Leadership?

If you do not manage reliability culture, it manages you, and you may not even be aware of the extent to which this is happening!

Asset Condition Management versus Asset Health Index

Confusion abounds in language. Have you thought through the constraints of using the language of Asset Health?

Seven Chakras of Asset Management by Terrence O'Hanlon

The seven major asset management chakras run cross-functionally from the specification and design of assets through the asset lifecycle to the decommissioning and disposal of the asset connected through technology

Reliability Leader Fluid Cleanliness Pledge

Fluid Cleanliness is a Reliability Achievement Strategy as well as an asset life extension strategy