Asset (Equipment) Criticality

What Is Asset (Equipment) Criticality?

Asset (equipment) criticality is a rating assigned to an asset (or piece of equipment) that can be used to determine the frequency of inspection and maintenance required. This rating takes into account the asset’s likelihood of failure and the consequences of its failure as well as safety, environmental, and economical consequences.

Why Conduct Asset (Equipment) Criticality?

Asset (equipment) criticality is essential to an efficient maintenance operation and offers many benefits. Criticality ratings ensure that maintenance efforts are focused on the proper areas. The focus of preventive and predictive maintenance is determined using criticality ratings, and they allow a planner to determine which work orders require immediate attention and which work orders can be rescheduled for a future date. Criticality is also used to determine the number of spare parts needed, including minimum and maximum levels. Proper implementation and utilization of criticality ratings ensures that critical assets (equipment) are available and minimizes downtime.

What PEAK Will Do for You

Whether you’re a manufacturing operation or a facility, PEAK will help you create a criticality model that will establish criticality of each asset (or piece of equipment). Our analysis considers many criteria, such as downtime, demand, safety, environmental issues, quality, failure, failure history, customer service, etc., focusing on criteria that apply to your operation. In the analysis, we also consider the weight of the criteria, i.e., which criteria are more important, and establish a final ranking of criteria by criticality from highest to lowest, e.g., (A, B, C, D). PEAK will help you implement and utilize criticality ratings to make long-term improvements in both reliability and productivity.

Call PEAK today at 847-780-6414 to Discuss Your Needs with One of Our Maintenance Professionals.