Asst t I: Asset Management and Design for Maintainability and Reliability
Due date: Please refer in Table 1.
Value: 20% (10% 4.25%+25%+25%+25%)
1.For the assignment students will be expected to present grammatically correct work that contains Fc”. this assignment. de ate that they have read and understood the study reasoned argument’ some to include at least there referred international journal and inatenafe rear’ c’N”dpeucr:. Constructive co ent on the views expressed by the various authdoirssoots enecc:’;aged. In total, the submissions for this assignment should amount to between 1000 an words.
Need to define problem that a maintenance engineer faces in any organization in life cycle decisions. You need to communicate maintenance of assets in your work area from business perspective in a language that can be understood by the organization’s management for managing cc./ benefit and risks in an objective manner using life cyde cos..
Report needs to be in a business report format with headers, footers, Page numbers’ formatted with margins, spell and grammar checked. You need to prepare a report/technical paper to provide :
1. Introduction with context of your organisation/ proposed organisation
2. Needs and expectations of stakeholders from maintenance of any specific asset sat pump, motor, generator, bridge, boiler, transformer, pressure vessels, rail track, chiller, heater, compressor, heavy equipment or any other capital intensive industrial or infrastructure asset.
3. Scope of your maintenance organisation to meet those expectations using opex and capex.
4. Level of documented system for maintenance department for asset management.
5. Commitment and support from leadership for risk based maintenance management.
6. How Life Cycle Costing is used in maintenance decision making in your organisation.
7. Any Gaps identified in current practice (appropriateness) when compared with good practices/ international standard of lifecyrie costing.
8. Conclusions with opportunities for improvement (along with reasons for your concluding statements)
9. Supporting documents from your organisation and/ or research as Appendix
10. References
2.What is time value of money? Explain using illustrative example and step by step calculations using Excel on how compounding and discounting are used in capital investment decisions. Report needs to be in a business report format with headers, footers, page numbers, formatted with margins, spell and grammar checked.
Select one of the plants or equipment recently installed/ planning to be procured or already replaced. Any alternative make and or capacity was/ is available which was not considered. Use excel and attach file as embedded file in word document/ upload file in Moodie for analysing PW. AW. and FW. methods to determine investment opportunities should be undertaken. Use a Minimum Acceptable Rate of Return (MARR) of 10%. If you do not have real data, then use a refrigerator for replacing your old one. Search online or talk to a store for some info on price and costs including energy consumption and warranties for at least three alternative options.
Explain how maintainability is measured. The contract requirement for an equipment item for maintenance is min. and the established risk factor is 10%. A maintainability trot is accomplished and produced results given in the table below for the 50 testing tasks (Task times are in minutes)
Use excel and attach file as embedded file in word document/ upload file in Moodie for your analysis.
Find out whether the equipment item passed the maintainability test and if not then suggest what is needed for meet contractual requirements.