Article on maintenance policy for plant productivity
Write an article on the maintenance policy for overall costs and enhancing plant productivity.
Expert
Maintenance policy for plants plays an important role in reduction of overall operating costs and enhancing the plant productivity. A proper maintenance policy strategy will replace deteriorated system before failure and must have different policies for each piece of a system based on the available resources. Previous studies have proposed reliability centered maintenance approach, integrated multi criteria decision making approach and others for determination of a maintenance policy. Bertolini & Bevilacqua (2006) had proposed a lexicographic goal programming (LGP) or a combined AHP-GP approach to define the best maintenance policy strategy which was developed from the previous studies.
The combined approach was applied to determine the optimal maintenance policy for a group of centrifugal pumps in an Italian oil refinery plant. 10-year data regarding failures and maintenance such as failed items, failure cause and effect, repair cost, MTBF and MTTR for 10 most important pumps of the refinery were obtained from the Computerized Maintenance Management System (CMMS) and analyzed. The best maintenance policy for each failure type was determined accounting for the possibility of various alternatives. The criteria decided to be employed were occurrence, severity and detectability. Pair wise comparison was performed to assess the priority of the criteria and the inconsistency ratio was determined. AHP chose severity as the most relevant criterion.
Three maintenance policies namely corrective, preventive and predictive were proposed with resource constraints on budget and labor available and GP model was employed to link the criterion weightings with failure types for the 10-year data and later the best maintenance policy was determined as predictive policy with the second being preventive. The proposed model has emphasized on reduction of failure effects in terms of safety as well as cost and resource usage. Corrective maintenance policy was never suggested in any situation and hence the management focused on introducing a more accurate inspection plan for reducing the catastrophic failures, facilitating better maintenance and at the same time improving cost control and operational efficiency.
The combined model has been proved to be a more flexible tool in optimal resource allocation for various maintenance strategies, with flexible options to vary the objectives and constraint conditions. Bertolini & Bevilacqua (2006) had thus applied AHP-GP approach for a successful selection of maintenance policy and had recommended for the addition of more goals or constraints into the model for future research.
State some of the problems which may enter into capital budgeting analysis in case project debt is computed rather than borrowing capacity made by the project?
Explain the term Elder Abuse in brief ?
Write an article on Valuation of assets serves for both buyers and sellers of goods and services.
A way to improve performance that investigates the way several different entities do the same activity and finds the best way to accomplish the activity. The best ways then become the standard or the benchmark for all the entities.
What was the link between progressivism and the women’s rights movement?
Why host country resist cross-border acquisitions, instead of the green field investments? Explain your point of view?
Explain the world beta concept of a security.
In Modigliani-Miller equation, why is market value of the levered firm is more than the market value of an equivalent unlevered firm?
Explain how do firms with no tradable assets get free-ride from the firms whose securities are internationally tradable?
Calculation of NPV: Calculation of NPV is done through the same method of discounting as described above. However in this case the rate is predefined for discounting. It is the cost of overall long term resources, whether debt or equity. This co
18,76,764
1930030 Asked
3,689
Active Tutors
1419715
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!