This 1-day course gives an overview of the concepts of risk, consequences, likelihood of failure & prioritizing using an Asset Criticality Ranking & Pareto analysis.
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Study at your own pace, with 3 months course access
Asset Criticality Ranking and Pareto Analysis
This short course is the most economical way to learn and perfect for those unable to attend a classroom course or prefer to study at their own pace.
- PD hours: 3
- $250.00 excl. GST
The Asset Criticality Ranking and Pareto analysis are two powerful and easy to generate metrics that enable you to prioritize everything you do with your reliability improvement program. Without these two metrics, how do you decide:
- Which assets should you first analyze with RCM and/or FMEA (you don’t have the time to analyze every asset)?
- Which assets will you apply condition monitoring to (you can’t afford to monitor every piece of equipment)?
- For which assets will you make absolute sure you have spares in place?
- Which assets should you focus on for reliability improvements?
- Which assets must you absolutely perform root cause failure analysis on when they fail?
- Which assets with you first generate procedures and a bill of materials?
And the list goes on.
Rather than having to think about the 10,000 assets in your plant, you can focus on one at a time – the most critical asset. Next, you focus on the second asset in the list. And so on.
These lesson modules were taken from the Asset Reliability Practitioner ARP-E course for Reliability Engineers, but it is also important for condition monitoring managers, the Reliability Program Leader, the Maintenance Manager, and anyone else involved with spares management and work management (planning and scheduling).
The course includes 2hr 33min of video lessons, delivered by Jason Tranter, the founder, and CEO of Mobius Institute.
$250 plus 10% GST = $275