Definition
Risk-Based Maintenance prioritizes maintenance effort across assets by calculating a risk score, typically probability of failure multiplied by the consequence of that failure, and directing resources toward the highest-risk assets first. It differs from RCM's per-function failure analysis by working at a portfolio level, ranking many assets against one another.
Key facts
- Prioritizes across a portfolio of assets using a calculated risk score, typically probability × consequence.
- Directs limited maintenance resources toward the highest-risk items first, rather than analyzing each function in isolation.
- Requires reasonably reliable failure-probability and consequence data to produce a meaningful ranking.
- Distinct from RCM, which derives a strategy per function and failure mode rather than ranking assets by a single risk score.
Why does Risk-Based Maintenance matter in maintenance?
Risk-Based Maintenance works by estimating, for each asset or failure mode, the probability of failure and the consequence should it occur (safety, environmental, production, or cost impact) multiplying them into a risk score, and ranking assets so limited maintenance resources go where risk is highest.
How do maintenance teams apply Risk-Based Maintenance?
RCM analyzes each asset function and failure mode individually to determine whether a maintenance task is justified. Risk-Based Maintenance instead works at a portfolio level, ranking many assets by a calculated risk score to decide where to focus limited resources: a prioritization method rather than a per-function derivation method.
FAQ
Frequently asked questions
How does risk influence the prioritization of maintenance?
Through Risk-Based Maintenance: calculating a risk score (probability of failure times its consequence) for each asset and directing limited maintenance resources toward the highest-scoring items first.
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