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Optimizing Equipment Maintenance and Replacement Decisions

July 20 - July 21

  • Is your equipment (fixed or mobile) failing before planned replacement?
  • Are you unable to execute maintenance tasks because spare parts are not available?
  • Have you made significant investment in CBM methods and tools but struggle to realize the benefit?
  • Do you have lots of data from oil analyses but still struggling to accurately predict your equipment breakdowns?
  • Do you know how to determine optimum asset life?
  • Are you struggling to justify the economics of asset replacement?
  • Are you having difficulties in deciding whether to rebuild or replace your equipment to minimize the life cycle costs?
  • Do you need to optimize your emergency spare requirements?



The objectives of the program can be summarized as follows:

  • To focus on the techniques of optimization – the single most important thrust of this learning program. Whether the decision is about work-crew sizes, or the replacement of component-parts or entire equipment units, the concept of making the very best, most optimal, decision will be the principal concern of the training program.
  • The concept of making the very best, most optimal, decision will be the principal concern of the training program.
  • To equip the participating maintenance managers, planners and schedulers and engineers with the know-how to select the most appropriate analytical tools for their maintenance decision-making.
  • Reflecting the growing focus of industrial safety and the profusion of safety-related litigation – think of transportation accidents, chemical spills, and mining disasters – the program will show how safety objectives relate to the optimization models, and will underline the advantages of having a well-documented and rigorously-executed program of maintenance and replacement.
  • To introduce the critical decision-making topics that can make a significant difference to the in-service time of equipment, to the costs related to doing maintenance too often or too seldom, and the optimization of asset utilization.
  • To not only cover the classic need-to-know material in the area, but to acquaint the participants with leading-edge and on-the-horizon approaches that they will encounter in the near future.
The Contents
  • Physical Asset Management & Reliability Concepts
  • From Maintenance Management to Physical Asset Management
  • Reliability Improvement through Preventive Maintenance
  • Dealing with Censored Data, the 3-Parameter Weibull, and the Kolomorgov-Smirnov Test
  • Preventive Maintenance & Spare Parts Replacements
  • Case Studies in Component Preventive Replacement
  • Spare parts provisioning
  • Clinic: Hands-On Use of PC Software for Preventive Replacement Strategies
  • Machine Health Monitoring & Inspection
  • Inspection Frequency and Depth for equipment in continuous operation
  • Economics of Reliability
  • Aspects of Discounted Cash Flow Used in Capital Equipment Replacement Analysis
  • Effective Management of Maintenance Resources & Information


July 20
July 21
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Virtual Event


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