Determining your critical assets and the impact their failure has on production is imperative to running an efficient maintenance operation. A Criticality Analysis helps break down your organization's systems and processes to identify critical assets and their impact on failure, with the end goal of optimizing your maintenance strategy and managing risk.
First, we need to answer: What is a Criticality Analysis?
A criticalilty analysis results in assigning a criticality score to your assets based on potential risk. This helps organizations create a maintenance strategy that allocates maintenance resources on critical assets, ensuring efforts are directly impacting asset uptime.
How to Conduct a Criticality Analysis:
- Start at the system level: break down your business production into systems and subsystems
- Define what “critical” means to your organization: you will want to define what critical means as it relates to environmental, health and safety, operational, and in some cases – customer impact.
- Identify critical systems: What are the most critical systems to your business? What is the impact if that system can’t perform its function?
- Identify critical assets: Which assets are key to enabling the system to perform its function?
- Analyze Criticality of Assets and Systems: Is it a Single Point of Vulnerability (SPV) or do we have backups? What is the impact of production? What is the cost of repair? What is the impact on personal safety? Environment protection?
- Identify critical components: and the different ways each asset can fail
- Score: Give each asset a criticality score based on the risk represented by the potential asset failures
Next Steps in your reliability journey:
After a criticality analysis is conducted, your organization has completed its first major step towards reliability and effective maintenance. We help organizations shift from reactive maintenance to predictive maintenance through condition monitoring. Learn about Maximo Asset Health Insights here.