Reliability Analysis Project for Petrochemical Company

The petrochemical industry operates with high-value assets that are critical to production processes. Ensuring the reliability of these assets while optimizing maintenance efficiency is crucial for the smooth operation and financial sustainability of the business. This project involved conducting a comprehensive reliability analysis for a petrochemical company to better understand the performance of their assets and maintenance efficiency.

Project Approach

The analysis leveraged survival ship analysis techniques to evaluate the performance of the assets over time and under different conditions. This method helped in identifying potential areas of improvement and assessing the efficiency of the current maintenance practices.

Major Outcome

One of the major outcomes of the project was the ability to adjust the Preventive Maintenance (PM) plans of the company. The insights gained from the survival ship analysis enabled the formulation of more targeted and efficient maintenance strategies, ultimately leading to optimized asset performance and reduced downtime. Additionally, the analysis led to the adjustment of the risk register accordingly, ensuring that the company’s risk management practices are aligned with the updated understanding of asset performance and reliability.

Impact

The project resulted in a more strategic approach to asset maintenance and risk management for the petrochemical company. By adjusting the PM plans and the risk register, the company was able to enhance its operational efficiency, reduce downtime, and manage risks more effectively.