Course title: Optimizing Equipment Maintenance and Replacement Decisions
The course answers the important questions in asset replacement strategy:
- Should we keep running or should we replace the asset now?
- What are the number of spare parts we should have?
- What is the optimal time of replacement? Is it a software for that?
- How to use the data to make condition based replacement?
- How to find the optimal time when the operation cost is increasing?
- How to optimize the emergency spare requirements?
- How to determine optimum asset life?
- How to decide whether to rebuild or replace your equipment to minimize the life cycle costs?
- How to make alarm function to optimize condition based replacement?
- How to make Data-driven Decision to optimize asset maintenance?
If you need answers for these questions, this course is for you.
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- Physical Asset Management & Survival Analysis Concepts
- From Maintenance Management to Physical Asset Management
- Challenges of physical asset management
- The maintenance types
- Total Productive Maintenance
- Reliability Centered Maintenance
- Survival Life data Analysis
- The 4 functions
- Reliability distributions
- Exponential distribution
- Weibull distribution
- Bath-Tub Curve
- Failures patterns
- Exercise in Analyzing Component Failure Data Using the Weibull Distribution
- Estimating the Weibull Parameters
- Using Median Rank Tables
- Using Many Software
- Dealing with Censored Data, the 3-Parameter Weibull, and Fitting Test
- Censoring Data
- Estimating the Location Parameter in the Weibull Distribution
- Checking the Goodness-of-Fit of the Distribution
- Preventive Maintenance & Spare Parts Replacements
- Deterministic and Stochastic Replacements
- Optimal Replacement Times for Equipment Whose Operating Cost Increases with Use
- Block Replacement Policies
- Age-Based Replacement Policy
- Component Replacement Procedures including Glasser’s Graph
- Repairable systems replacement concept
- Case Studies in Component Preventive Replacement
- Using graphical and software methods
- Spare parts provisioning
- Fast moving spares
- Emergency (insurance) spares
- Case studies in spares provisioning
- Hands-On Use of PC Software for Preventive Replacement Strategies
- Asset Health Monitoring & Inspection
- Inspection Intervals to Maximize Profit
- Maximizing Equipment Availability
- Optimizing CBM Decisions
- The Proportional Hazards Model
- Blending Hazard and Economics: Optimizing the CBM Decision
- Optimization of Condition-Based Maintenance Procedures
- Role of software for CBM optimization
- Many Case studies
- Optimal Replacement Interval for Capital Equipment
- Estimating the Interest Rate Appropriate for discounting
- Present-Value Calculations
- The effects of Inflation in the Analysis
- Calculating the Equivalent Annual Cost (EAC)
- Economic Life of Capital Equipment
- The “Classic” Economic Life Model
- The Repair-vs-Replace Decision
- Life-Cycle Costing LCC
- Technological Improvement
- Use of PC Software for Capital Equipment Replacement Analysis
- Data- Driven Maintenance
- Data Analysis and Knowledge Extraction in Maintenance
- Decision making based on the machine learning, data mining Logical Analysis of Data.
- Case Study shows the comparison between the traditional reliability analysis technique and decision making based on the machine learning, and data mining.
The instructor: DR. Yasser shaban
Course duration: 30 Hours – 10 Lectures