5.2 Reliability Modelling

Reliability Block Diagrams (RBD) help organizations achieve new project goals which makes them an especially important tool under the restriction of budget and production cuts that are currently typical due to economic constraints such as low oil prices. At design stages and under new budget cuts, management should consider a few things besides meeting the projects budget like: New plant capacity expected; Plant overall reliability and availability; Operating risks; and Projected maintenance costs. Participants will see that by building an RBD the project team will have a document that will help in the decision making while supporting both in production and economic terms a decision. 

While leadership often requests a business case for implementing a comprehensive Maintenance & Reliability Readiness (M&RR) Plan for a specific capital project, it can be difficult for M&R practitioners to build one. And many plans do not consider the value destruction that occurs in the majority of new capital projects accounting for approximately 9% per $1B invested. This session discusses the causes for this loss:  buying excessive new capital spares; reduced and/or intermittent production during the ‘ramp-up’ phase, and much higher annual maintenance expenses. By understanding the loss in value that can be avoided through the adoption of a comprehensive M&RR Plan, maintenance and reliability practitioners will be able to effectively communication a business case for an M&RR investment.