2014
North America

Blue Room - Session 1

9:10 to 10:10 a.m. Tuesday, June 3, 2014

Getting the Biggest Bang for Your Reliability Buck

Since no company has infinite resources to address every reliability issue on every existing product, some method must be developed to focus resources where they will provide the biggest return on reliability investment. If you conduct a lifecycle cost analysis over the depreciable life of a product, the components or systems contributing the most to the lifecycle costs identify where your reliability efforts should be spent. This presentation will demonstrate the development of lifecycle costs on a product, identify items contributing the most to the lifecycle costs and identify efforts taken to reduce the cost of each. For one component, there was a 50% variation of average life between four suppliers. A reliability growth tool will be used to demonstrate one method to help identify the variability between suppliers and to identify an optimal material requirement affecting the life of this component. Relianomics-based calculations will also be demonstrated for determining the optimal design of one of the components.

Key Words: Lifecycle Costs, Weibull Analysis, Reliability Growth Analysis, Relianomics, Net Present Value

Stan Stephenson, Phillip Rogers, Matthew Margis and Bennedict Portillo

Halliburton

Duncan, Oklahoma