Asset Criticality Analysis

Definition

Criticality analysis is a process for determining the relative ranking of assets in a plant or system. The purpose is to objectively rank assets and form a collective agreement and analysis.

After ranking the items, determinations can be made as to which items receive preferential treatment with respect to financial consequence, EHS consequence, production priority, and resource allocation. The criticality analysis will aid the work management processes by prioritizing strategies on the most critical equipment in the plant, as well as by prioritizing backlogs.

How does iReliability™ enable this?

Asset Criticality Ranking

Generate a standardized, objective ranking that reflects operational priorities
The iReliability™ Asset Criticality tool prompts the user with a series of questions that represent the interests of different aspects of the organization. The answers to the questions combine into scores to derive a composite numerical ranking system, as well as “category” scores.

An accurate criticality ranking enables reliability leaders to determine maintenance strategy, prioritize work orders, and make better overall risk management decisions. But this is not just a maintenance tool. Criticality ranking provides cross-functional benefits for all parts of the organization: it adds value to Operations in terms of turnarounds, shutdowns, and job orders; Environmental, Health, and Safety can identify the EHS priorities for plant and project planning; and better decisions can be made with regard to capital expenditure and future budgeting. Key features of this tool include the ability of the various business unit leaders to customize questions and answers. Many reports and exports are built into this tool, including Pareto/Histogram and Modal Charts to enable analysis of the criticality distribution.

Benefits/Values