Ongoing maintenance can comprise a large percentage of an asset’s TCO, and as organizations push to extend the life of equipment, optimizing maintenance will be essential. Below are two examples of maintenance methodologies organizations can implement to reduce TCO.
Risk based inspection (RBI) is an asset integrity management methodology used to prioritize assets for inspection based on associated risks. It is commonly used in the oil and gas industry, but is applicable for any asset-intensive industry. RBI can reduce maintenance costs by reducing preventative maintenance and extending maintenance intervals. During an RBI assessment, non-critical assets are identified and their inspections reduced, streamlining maintenance and reducing costs.
In oil and gas, turnarounds (TARs) are a major source of maintenance costs and accidents. During a turnaround the facility is non-operational, leading to losses in production and impacting revenue. From an operational perspective, it is beneficial to reduce turnaround exposure while maintaining safety.
Using RBI, the number of PMs necessary is reduced and can be eliminated during the scope of a TAR. Considering the size and impact TARs have on maintenance costs, reducing TARs by even a few days has significant impact on revenue.
Reliability centered maintenance (RCM) is an asset care/maintenance development and optimization methodology focused on maximizing availability and efficiency while reducing maintenance cost and total cost of ownership. RCM can reduce TCO in three ways:
- RCM increases equipment availability. A RCM analysis targets critical assets with maintenance strategies designed to minimize downtime. Preventative maintenance (PM) or predictive maintenance are used as part of an overall RCM strategy to increase equipment availability.
- RCM leads to greater maintenance efficiencies. With failure modes categorized during the analysis phase of a RCM assessment, operators can quickly diagnose equipment failure – leading to less time for each repair. When correctly applied, RCM leads to a reduction in routine maintenance workload by reducing the number of tasks and lengthening intervals between tasks.
- RCM cuts costs with targeted and flexible strategies. RCM increases efficiency by using flexible maintenance strategies. Rather than using one approach, RCM combines reactive, proactive, predictive, and condition-based maintenance techniques depending on asset criticality or failure modes.