Business-oriented prioritization: A novel graphical technique

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dc.contributor.authorPascual, R.
dc.contributor.authorDel Castillo, G.
dc.contributor.authorLouit, D.
dc.contributor.authorKnights, P.
dc.date.accessioned2024-01-10T13:46:31Z
dc.date.available2024-01-10T13:46:31Z
dc.date.issued2009
dc.description.abstractTraditionally, Pareto analysis has been used to select the most critical components and failure modes of a system. A clear disadvantage of this technique is that it requires preselecting a single criterion to establish priorities. More recently, a graphical log-scatter diagram technique has been proposed. It considers three key performance indicators simultaneously: reliability (MTBF), maintainability (MTTR), and unavailability (D). This technique considers only times and does not include economical effects explicitly. This article extends both techniques to explicitly consider both direct and indirect costs to prioritize from the point of view of an asset manager or from a maintenance decision-maker, as required. Due to the economic-based approach of this article, cost discounting is also considered inside financial costs such as-but not limited to-reliability-related investments. Also, the results are displayed on simple and accessible graphs which make them particularly useful for conveying results to non-technical managers. The methodology is illustrated by analyzing a shovel from the copper mine industry, and it clearly shows how the proposed technique facilitates business oriented decisions and how they should change under different market conditions. (C) 2009 Elsevier Ltd. All rights reserved.
dc.description.funderFOndo Nacional de DEsarrollo Cientifico Y Tecnologico (FONDECYT) of the Chilean government
dc.fechaingreso.objetodigital09-04-2024
dc.format.extent6 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.ress.2009.01.013
dc.identifier.eissn1879-0836
dc.identifier.issn0951-8320
dc.identifier.urihttps://doi.org/10.1016/j.ress.2009.01.013
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/79170
dc.identifier.wosidWOS:000266892800008
dc.information.autorucIngeniería;Louit D ;S/I;3890
dc.information.autorucIngeniería;Pascual R ;S/I;1007557
dc.issue.numero8
dc.language.isoen
dc.nota.accesoContenido parcial
dc.pagina.final1313
dc.pagina.inicio1308
dc.publisherELSEVIER SCI LTD
dc.revistaRELIABILITY ENGINEERING & SYSTEM SAFETY
dc.rightsacceso restringido
dc.subjectPrioritization
dc.subjectPhysical asset management
dc.subjectMaintenance decision-making
dc.subjectResource assignment
dc.subjectCriticality
dc.subjectSubset selection
dc.subjectMulticriteria analysis
dc.subjectMAINTENANCE
dc.subjectSELECTION
dc.subjectSTRATEGY
dc.subjectSYSTEM
dc.titleBusiness-oriented prioritization: A novel graphical technique
dc.typeartículo
dc.volumen94
sipa.codpersvinculados3890
sipa.codpersvinculados1007557
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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