Practical application of reliability modeling in the evaluation of investmentoptions for refinery and petrochemical plant

摘要

General management is in need of a framework to guide investment decision-making, whichrnbalances sometimes conflicting advice from specialist teams responsible for different aspectsrnof plant design, operation and maintenance. Reliability techniques are well established andrnare a conventional component of specialist studies. However, the purpose of this work was torndevelop a more accessible approach in which experts could contribute their knowledge tornassist general management focus attention on those investments which provide attractivernpayback under practical conditions.rnThe paper explores the benefit-cost prioritisation of investment to improve service factor andrnshows how to strike a balance between engineering and human factors involved in operation.rnAn example is developed illustrating the benefit on offer for addition expenditure on operatorrntraining as opposed to additional engineering sophistication.