Track 1 Session 4
2:20 to 3:20 p.m. Wednesday March 23, 2011
The Optimum Replacement Time Considering Reliability Growth, Life Cycle and Operational Costs
Nowadays, even in high level performance plants, some equipment have high operational costs. The main questions are: 1) When is the best time to replace such equipment? and 2) How long is it profitable to keep with corrective and preventive maintenance? In order to answer such questions, it is necessary to perform life cycle, reliability growth and operational cost analyses in order to identify the optimum time to replace the equipment. This session will present a case study for a compressor with redundancies that permit an oil refinery plant to achieve high performance but with high operational cost.
Key Words: Optimum Replacement Time, Failure Rate, Reliability Growth, Redundancy