iOG Solutions considers Asset Criticality Analysis as one of the important parts which help the industry to discover and analyze their assets and it’s various associated criticality factors based on the risk of failure associated with the equipment along with knowing how reliable and durable it is going to be in the long run of the plant.
Overview
Asset Criticality Analysis Mainly Deals with the Following Factors:
- Ability to isolate/recover from single-point-failures.
- Corrective Maintenance (CM) history.
- Environmental, Health, and Safety impact.
- Mean-Time-Between-Failures (MTBF) or “Reliability”.
- Spares lead-time.
- Asset replacement value.
Based on the information gathered from the inspection the assets are then arranged according to their criticality rank which helps to prioritize the actions to be taken on any particular asset among the criticality list. This helps the Operations/Plant head to be predictive and reliable in terms of avoiding any kind of downtime and hazards in the plant.
