Reliability Engineering

• Reliability Engineering

  

  Asset Management:

  Coordinated activities of the organization to realize the value of their assets

  
  

  Assets:

  any thing has the value or a potential value for the organization

  
  

  Value:

  Optimum combination of:
  Risk
  Cost
  Performance
  

  
  
  

  Reliability is defined as “the ability/probability of a system or component to perform its required functions under stated conditions for a specified period of time”.

  Reliability attributes:

  Ability
  Function
  Condition
  Time
  

  
  

  Some benefits of reliability:

  Improving SHE (reliable plant is a safe plant)
  Financial profit (i.e. fewer shutdowns & more production)
  Quality (unreliable equipment might produces low quality product)
  

  
  

  To make it simple:

  Things work as you want them to work, when you want them to work.
  

  
  
  

  A defect can be defined as “anything that erodes value; reduces production; compromises health, safety, or the environment, or creates waste”.