Identify the costs and mitigate the risks involved in extending asset availability
Often the expected life of mission or safety critical systems is extended due to extended operational requirements or budgetary constraints – particularly with complex assets that are already ‘in-situ’ or ‘in-theatre’.
In order to validate the cost benefit of extending the life of an asset against asset replacement it is important to understand both the engineering risks and requirements and their associated economic factors.
MADe combines the key engineering analysis required to understand, analyse and validate these potential impacts and determine what additional design may be required to support the project objectives.
Questions that MADe can answer
Typical questions that MADe can be used to answer in relation to the life extension of an asset include:
- have the key failure modes that impact on reliability / availability been identified and mitigated?
- Is there a business case for life extension or should the equipment be replaced?
- does the equipment support mandated safety levels?
- Is there a business case for extending the equipment life?