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Incorporating an ISO55000 Risk Matrix to Classical RCM Methodology

Incorporating an ISO55000 Risk Matrix to Classical RCM Methodology

IMC-2018 Learning Session 47:08

by Tim Allen, Central Arizona Project

This presentation details how Central Arizona Project's and Arizona water utility incorporated a risk matrix to their Classical RCM methodology to account for more granular levels of failure likelihood and severity to derive a risk priority number (RPN) for each failure mode and selected task. ISO55000 requires that the activities associated with the management of assets be risk-based and that these risks be thoroughly evaluated and documented in the context of the "significance" of the asset and how it relates in realizing (or not) the higher level strategic business requirements of the organization. The presenter will detail the risk matrix and results of an RCM case study of a hydraulic control system at CAP's Mark Wilmer Pumping Plant.

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