Intеrvаl Dеtеrminаtiоn аnd Соmрiling оf thе Рrоgrаm

Tasks

1 Select a critical component or a set of identical components of the selected system/asset in assignment 1 that you think requires a
renewal/replacement policy. (5 Marks)

2 Collect/obtain data and all relevant information to establish the desrgn. life and failure history

and cost elements for the selected critical component or a set of identical component.

(5 Marks)

3 Make all required assumptions and if

required use Weibull distribution with reasonable shape parameter, scale parameter and location parameter. you can review the assumptions
and use of Weibull distribution in the notes and literature. (5 Marks)

4 Decide on which renewal/replacement strategy best represents the

approach to the component maintenance. usage based or condition based, for example:

3. Age replacement of individual component 5
b. Block

replacement of individual components,

c. Age replacement of all componentstreated as a single component

d Replacement on failure

e.

Condition based renewal/replacement

f. Condition monitoring or continuous monitoring

Explain the reasoning behind your selection of

stratedgy. (15 Marks) . g g _ g

5 Un ertake the requrred quantitative analysrsto determine whether the selected renewal/replacement strategy IS

acceptable/efficients Suggest alternativ es if appropriate and substantiate your suggestions Your answer may include consideration of more
than one strategy (50 Marks)

6 Determine the optimum renewal/replacement criteria in terms of total cost, cost rate) inspection interval or

number of inspection and identify annual saving that may be defined as a result of the analysis. (20 Marks)

Last Updated on February 10, 2019 by EssayPro