Cost Models for Condition Health Monitoring of Machinery and Plants

Maintenance Management Techniques have changed enormously with the advent of predictive maintenance methodologies or the so-called condition-based maintenance (CBM) or condition monitoring (CB). Both dynamic (Vibration/Sound) and tribological (Oil analysis) signals play a major role in maintenance of machinery and plants. The conventional time scheduled maintenance (periodic monitoring) has been found to be uneconomical, whereas in new CBM technique, many advantages are seen including cost effectiveness. For implementing this new technique of CBM especially for large plants requiring huge investments on diagnostic equipment, any management would prefer to get convinced prior to implementation. This paper deals with this object to develop an effective mathematical cost model (MCM) based on data already collected for machinery and prove its effectiveness by applying this model to some major industries such as aviation and shipping. In both cases, it has been shown to use MCM as an effective model for implementing CBM for many other plants also. Ultimately, this model helps to introduce newer techniques in maintenance management such as pro-active and reliability-centered maintenance and avoid all older techniques so far followed. Most of the modern machinery today are already applying all these new concepts to prevent failures and increase the safety and operation of all vital machinery, where both men and machines involved. The cost model developed in this paper helps considerably to arrive at major decisions in implementing these new techniques in maintenance management.