Having a clear view of an asset’s risk profile is vital for assessing its reliability and operating it with confidence. Optimal utilises several techniques to provide businesses with this line of sight. Our techniques are scalable and can be used in a variety of business contexts; they are clear and auditable; allowing you to rank your assets based on their potential risk and make effective decisions for your operations.
Why Criticality Analysis?
Our analysis covers various areas of your organisation including impact on safety and environment, customer impact, isolation of single-point failures, historical preventive and corrective maintenance, MTBF, probability of failure, and spares lead time. Criticality plays a key role in nearly all types of maintenance and the benefits include:
Lifecycle cost analysis (LCA) is an approach used to assess the total cost of an asset. LCA helps decision-makers measure the commercial sustainability of their assets. When calculating the total cost of ownership over the lifespan of an asset, you increase your organisation’s value and gain a clearer picture of whether to maintain, overhaul or replace certain assets or dispose of them altogether. This reduces the cost of investment and allows you to capitalise on the profitability an asset will return.
With our expertise in implementing lifecycle models for physical assets, we can help asset managers discover ways of reducing operating expenses and capital expenditures by getting the most out of the useful life of an asset.
Are you facing any of these issues?
Optimal’s Lifecycle Cost Analysis generates whole of life cost models for major assets, using detailed equipment characteristics and maintenance cost forecasts as a base. These models are used to ascertain the optimum replacement age of critical assets or to determine the investment alternative from a range of options.
Benefits of Optimal’s LCA analysis:
Do you have a culture focused on extracting maximum value from your assets? At Optimal we can help you develop Supportability / Availability models and implement an Asset Management culture that improves the bottom-line.
Talk to us today about how we can help with PLA and /or COM.