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An Adaptive Alarm Method for Tool Condition Monitoring Based on Probability Density Functions Estimated with the Parzen Window Read chapter Read first chapter

2015 | OriginalPaper | Chapter

The Role of Life Cycle Cost in Engineering Asset Management

Authors : Khaled El-Akruti, Richard Dwight, Tieling Zhang, Mujbil Al-Marsumi

Published in: Engineering Asset Management - Systems, Professional Practices and Certification

Publisher: Springer International Publishing

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Abstract

This paper presents a case study demonstrating life cycle cost (LCC) analysis as a major and critical activity of engineering asset management decisions and control. The objective is to develop a maintenance policy to control the economics of replacement and repair practice of refractory lining of an electric arc furnace (EAF). The replacement and repair policies involve the optimum life policy, the repair versus replacement policies, the repair limit method and the comparison of lining material types from different suppliers. The developed models provide a method for defining the most important factors involved in decision making with respect to operational and managerial levels. The approach also involves deciding the remaining age value as the repair limit criteria while avoid lining failure due to unavoidable deterioration caused by variation in operation conditions. The decision criteria are established as: (a) what type of lining material is better to use? (b) When to replace lining in a cyclic manner? (c) At what sequence is hot repair required and (d) whether to replace or use cold repair between replacements. Finally, the model output values for the decision criteria are presented in tables and graphs to guide decision making in operation and maintenance.

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previous chapter Application of Maximum Correlated Kurtosis Deconvolution on Rolling Element Bearing Fault Diagnosis
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Metadata
Title
The Role of Life Cycle Cost in Engineering Asset Management
Authors
Khaled El-Akruti
Richard Dwight
Tieling Zhang
Mujbil Al-Marsumi
Copyright Year
2015
Book
Engineering Asset Management - Systems, Professional Practices and Certification

Print ISBN: 978-3-319-09506-6

Electronic ISBN: 978-3-319-09507-3

Copyright Year: 2015

DOI
https://doi.org/10.1007/978-3-319-09507-3_17