Applications of Risk-Based Decision-Making Tools for Process Equipment Maintenance

This paper explains a risk-based approach for analyzing process equipment that will help maintenance organizations improve system reliability and optimize maintenance resources. In addition, the approach provides a methodology for organizations to move from a prescriptive or compliance-based maintenance strategy to a risk-based maintenance strategy. The approach outlined is based on proven risk assessment and maintenance analysis tools, such as reliability-centered maintenance. The information in this paper will benefit maintenance professionals interested in optimizing maintenance resources.