Is Your PM Worth Doing? Use a PM Cost Benefit Analysis to Find Out
How To Determine If The PM Activity Being Performed Is Worth Doing
Would you spend $100 every week to prevent a possible issue that will result in a loss of $10? Probably not, so why is that we do that with our maintenance programs every single day? Often, PM and PdM activities are put into place without any thought to the economic impact of the activity. While in theory the PM or PdM activities will prevent or mitigate the consequences of the failure, is implementing one of these activities the right thing to […]
Performing a PM Optimization is not always as simple as it sounds. Often a Maintenance Planner will assemble a team of technicians to ask what is value-added and what is missing from a PM Routine. While these may be good questions to ask before diving into an analysis, or after an analysis, it does not base the answers on data. Basing the PM Routine on data, not intuition is critical to the long-term success of any organization.
If you are lucky enough to have good failure data history in your CMMS, you are one of the few. But even if you have the data, can you use it to make a difference to your organization? Obviously, the data can be used to perform certain reliability engineering analyses, but what can those without reliability engineering experience do with the data?
In the petroleum, natural gas and petrochemical industries, great attention is being paid to safety, reliability, and maintainability of equipment. This is true in any industry and as such the learnings and information found within 
ISO 14224 – Equipment Taxonomy