Week 3 - Consolidation Exercises Flashcards
What are the three main systems for maintenance that can be used by infrastructure asset organisations?
Risk based maintenance
Reliability centred maintenance
Remote condition monitoring
Discuss the management process of risk based maintenance
Based upon two main phases:
- Risk assessment (matrix and register)
- Maintenance planning based on the risk
Discuss the management process of reliability centred maintenance
A framework that enables the definition of a complete maintenance regime based on 4 key questions.
What are the 4 key questions that reliability centred maintenance is based upon?
What is the system FUNCTION?
What functional FAILURES are likely to OCCUR?
What are the CONSEQUENCES of failure?
What can be done to REDUCE the failure?
Discuss the management process of remote condition monitoring.
Utilises sensors and live performance data to make decisions about the assets. Includes automated inspection and data collection.
What is the difference between corrective and preventative maintenance strategies?
Corrective maintenance is used to restore normal operating conditions AFTER failure.
Whereas, preventative maintenance is used to undertake predetermined activities at regular intervals BEFORE failure.
Explain why depreciation and the maintenance costs of assets are important to an organisation.
- Gives a view of the most optimum time to replace an asset with efficient spend of money
- Helps to develop planned spend on an asset
- Helps plan future investments
Describe the disadvantages of depreciation and maintenance cost method.
Future projection of the cost and depreciation is estimated, not 100% accurate.
Explain why monitoring the present value and maintenance costs is important after the asset goes into operation.
Present value allows an organisation to calculate the depreciation of an asset. This combined with maintenance costs allows an organisation to predict the annual cost of an asset, and by extent, estimate the optimum year of replacement.
Referring to cue card 4, identify and explain point ‘A’
A - Economic optimum - where the total impact on the business is at its lowest.
i.e. the costs are being spent efficiently.
Referring to cue card 4, identify and explain point ‘B’
B - The point where preventative costs and risk exposure is equal, but it is not the optimum operating financial position for the company.
Explain the purpose of the graph in cue card 4 for maintenance programmes. (3)
The figure shows the risk exposure in £/year based on maintenance interval.
It identifies that at the start of the project, there will be a greater benefit in spending more money on preventative costs to ensure the asset runs efficiently.
This may be due to consequences of failure, or downtime of operation.
