IMC-2020 Presentation 43:59 Minutes
by Kumar Iyer, Indorama India Pvt Ltd.
The most common way of asset criticality ranking (ACR) is similar to FMEA and RBI, wherein the risk priority number is computed based on the failure history and probability of failure and its impact (production loss, money, cost of maintenance) associated with it. This makes the asset criticality score very subjective and time-consuming. Also, in most organizations, the failure history is not well maintained.
A simplified method of ACR has been devised taking all important aspects of asset into consideration, such as its function, media handled, operating parameters, complexity, maintainability, etc. Most organization do not go further and fail to base their major decisions based on equipment class.
This presentation will show how to arrive at ACR ranking, and how to leverage it to maximize uptime and reliability, while at the same time, cut maintenance expenditures.