Criticality analysis for preventive maintenance optimization purposes in gas network infrastructures

Javier Serra Parajes, Adolfo Crespo Márquez and Antonio Sola Rosique

Journal of Risk and Reliability, 2018, vol. 232, issue 4, 464-472

Abstract: Identification and quantification of cost and value of industrial assets is a field in which much terminology has been developed. When we try to analyze the importance of an asset for our business, the discussion about its costs should not be separated from the value provided by the asset. Most of the time, managers use the term “cost†because it seems to be more objective. The concept of value is more subjective and more difficult to define. However, we shall henceforth use definitions as amortization, inflation, or replacement value in order to simplify the concept of “value†to improve our decisions. The economic retribution of the facilities is based on a legal normative for regulated companies, so the concept of “cost†may turn out to be quite useless. Therefore, it is important to use a methodology that allows us to estimate the value of our assets. We have developed a criticality analysis of our infrastructure in order to assess the relative value of these items for the company. The target is to optimize the operation and maintenance strategies at a corporate level. This must have a relevant impact on the OPEX of our company, and there may also be an impact on future CAPEX. This article is a case study of the methodology and presents clear examples of how operation and maintenance strategy is transformed according to criticality assessments.

Keywords: Maintenance strategies; asset and maintenance management; lifecycle management and sustainability; decision support; criticality analysis; risk management (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:risrel:v:232:y:2018:i:4:p:464-472

DOI: 10.1177/1748006X18785289

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