Risk mitigation procedure following criticality assessment and FMEA

摘要

In asset performance management(APM),criticality assessment and failure mode and effects analysis(FMEA) are powerful tools that enable the identification of opportunities to minimize asset lifecycle costs during the development of equipment strategies.Here,the author proposes a risk mitigation procedure that prioritizes tasks based on the criticality assessment and FMEA results,considers multiple aspects of failure effects and aims to provide data-driven solutions to maximize the risk mitigation benefit and return on investment(ROI).