Warranting physical assets reliability through criticality optimization

Criticality optimization for physical assets maintenance is meant to warrant high plant reliability for the processing plant. This is a vivacious trait that a bulk of industrial establishments discount and calamitous effects are typically encountered such as lessened reliability of installed equipment owing to wrong maintenance priorities. Equipment criticality ranking constructed on diverse impacts of equipment failure(s) on the businesses need to be carried out so that the businesses do not take a blanket approach to applying the same maintenance strategies and allocating resources unrestrained on all processing physical assets. Maintenance resources allocations need to be apportioned and prioritized as per equipment criticality ranking, and the various facets to consider encompass safety, environment, operations, financial, customer service and quality focused elements, and this is vital for securing cost-effectiveness in maintenance and high reliability in physical assets. Derivation of the processing plant's physical assets spares is consequential to assets criticality analysis and the related parts are managed according to their impacts on the businesses according to the laid-down criteria. This research was carried out to establish the priorities that businesses take at physical asset maintenance level to warrant equipment reliability.