(BQ) Part 2 book "Improving machinery reliability" has contents: Life cycle cost studies, extending motor life in the process plant environment, equipment reliability improvement through reduced pipe stress, startup responsibilities, spare parts and their effect on service factors, spare parts and their effect on service factors,. and other contents. | Chapter 5 Life Cycle Cost Studies Virtually every process plant manager subscribes to the goal of extending equipment life, availability, and reliability. Achieving these objectives usually requires up-front effort and money, and both seem to be scarce resources. But even the realistic manager who knows that reliability comes at a price may not want to authorize these expenditures on the basis of intuition alone. Instead, he may ask for cost justification linked to a payback period, a cost-benefit calculation, a life cycle improvement multiplier, or some other tangible factor. It is usually at this point in the chain of consideration that the reliability engineer decides he has no data and the issue is closed. Back to status quo-business as usual! But it doesn't have to be that way. There are many means to determine with reasonable accuracy the monetary incentives or justification for equipment and component upgrading. This chapter illustrates how some experienced technical people are accomplishing this task, and highlights other avenues available to reliability professionals who see merit in de-emphasizing the purely intuitive approach and wish to use appropriate numerical alternatives instead. We start out by explaining a variety of greatly simplified, but nevertheless, valid approaches. The interested reliability professional may then wish to direct his attention to the second part of this chapter, dealing with the more rigorous, classical life cycle cost (LCC) methods. Simplified Life Cycle Cost Estimating Life cycle cost estimating is rapidly becoming one of the reliability engineer's most effective improvement tools. This estimating approach takes into account the initial purchase and installation costs of equipment, auxiliaries, and software systems; to these it adds the cost of failure events, including, of course, lost production.'.* Electronic Governor Example Consider the sample case of an electronic governor system installed on a mechanical drive .
