Lowering Life Cycle Cost Equipment

• Definitions of reliability, maintenance & asset management

• The total cost of maintenance

• Best practice reliability and maintenance processes

• Elements of asset management best practice

• Auditing performance

• Overview of TPM, RCM, BCM, QCM, and other asset management buzzword

• Open discussion sessions

Day 2: Laying the Groundwork

• Team-work maintenance, operations, stores

• The importance of standards such as PAS 55, JA1011

• Corporate asset management expectations

• Asset performance expectations

• The forms of asset failure and degradation

• The causes and nature of asset failure and degradation

• The effects, cost and risks of asset degradation

• Practical Application and Open Discussion sessions

Day 3: Applying the Value-based Process

• Breaking the cycle of failure and degradation

• Select  PM tactics on the basis of costs and risks

• How to determine PM intervals

• Condition-based maintenance types and the PF-curve

• The four important  reliability functions

• Implementing best practice maintenance programs

• Optimizing spares to support the maintenance program

• The maintenance program cost and risk-based justification

• Practical Application and Open Discussion Sessions

Day 4: Ensuring the Continuity of the Value-based Process

• Complete the PLAN, DO, REVIEW Improvement cycle with FRACAS

• Failure Reporting, Analysis, and Corrective Action System requirements

• Structure and code data collection to support reliability analysis

• How to quantify chronic failures and losses

• Use Pareto analysis and stratification to focus the value-based analysis

• Quantify losses in life cycle terms

• Hypothesize root causes of failure and verify on the basis of evidence

• Reliability Analysis Case Study

• Discussion of software and templates to support analysis

Day 5: Supporting Process that Lower Life-cycle costs

• Planning and scheduling best practice

• Cost-effective man-power and skills deployment

• Performance indicators to drive continuous improvement

• Overall review of concepts learned