Risk based maintenance strategy selection

This paper presents decision-making model for maintenance strategy selection. Problem of right maintenance strategy selection is one of the most important problem in manufacturing enterprises, process industries or enterprises where failure of equipment has major impact on production flow, people, environment or business costs. Presented decision making model for maintenance strategy selection takes into account risk exposure to mechanical equipment failure, business costs, people health and environmental safety. At the other hand each strategy options has its benefits expressed by cost savings. This decision making model for maintenance strategy selection try to optimize between these opposite influential criteria.