Business Risk Exposure can be Used to Provide Asset Criticality
BRE == Business Risk Exposure
Criticality analysis lets you understand the asset's potential risks that could impact your operation. It ensures reliability is looked at from a risk-based magnifying glass rather than each person's opinion. According to the Life Cycle Institute, a criticality analysis model should cover multiple areas of your organization including:
- Customer impact
- Impact on safety and environment
- Ability to isolate single-point failures
- PM history
- CM (repair) history
- Mean time between failures (MTBF)
- Spare parts lead time
- Probability of failure