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Challenges in cost analysis of innovative maintenance of distributed high value assets

  • Paul Baguley
    ,
  • Leigh Kirkwood
    ,
  • Essam Shehab
    ,
  • P. Amorim-Meloa
    ,
  • Isidro Durazo-Cardenas
Research Output: Contribution to journal Article Peer-review

Open access

Abstract

Condition monitoring is an increasingly important activity, but there is often little thought given to how a condition monitoring approach is going to impact the cost of operating a system. This paper seeks to detail the challenges facing such an analysis and outline the likely steps such an analysis will have to take to more completely understand the problem and provide suitable cost analysis. Adding sensors might be a relatively simple task, but those sensors come with associated cost; not only of the sensor, but of the utilities required to power them, the data gathering and processing and the eventual storage of that data for regulatory or other reasons. By adding condition monitoring sensors as a subsystem to the general system an organisation is required to perform maintenance to the new sensors sub-system. Despite these difficulties it is anticipated that for many high value assets applying condition monitoring will enable significant cost savings through elimination of maintenance activities on assets that do not need such cost and effort expended on them. Further savings should be possible through optimisation of maintenance schedules to have essential work completed at more cost efficient times.

Publication Information

Output type

Research Output: Contribution to journal Article Peer-review

Original language

English

Pages from-to (Number of pages)

Pages 148-151

Journal (Volume, Issue Number)

Procedia CIRP (Volume 22)

Publication milestones

  • Accepted/In press - 01/08/2014
  • Published - 31/10/2014

Publication status

Published - 31/10/2014

ISSN

2212-8271

External Publication IDs

  • handle.net: 10547/623953
  • Scopus: 84938908160

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