Selecting and improving a maintenance policy for mechanical components using cost-effectiveness
by Anders Ingwald; Basim Al-Najjar
International Journal of Strategic Engineering Asset Management (IJSEAM), Vol. 1, No. 2, 2012

Abstract: Maintenance has in recent years more and more become recognised as contributing to company profitability and competitiveness. Consequently, the need of selecting the most cost-effective maintenance for a certain component/equipment under certain circumstances has become more emphasised. For a certain component/equipment there might be more than one technically suitable maintenance policy to choose from. The most cost-effective maintenance policy should be selected. In this paper, the most popular selection methods have been introduced, discussed and compared using 11 criteria for identifying their weaknesses and strengths. Also, a study exploring maintenance selection methods in Swedish industry is conducted. Furthermore, a model for selecting and improving a maintenance policy based on cost-effectiveness is developed, tested and discussed in an application example. The model is designed to be user-friendly and usable for all types of maintenance policies. It can utilise historical data regarding failures if available and allow feedback and continuous improvements.

Online publication date: Sat, 23-Aug-2014

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