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MREGC5001 | Life Cycle Asset Management

MREGC5001 | Life Cycle Asset Management | Management

MREGC5001 | Life Cycle Asset Management 1
  1. For this assignment, students will be expected to present grammatically correct work that contains reasoned arguments. Students should demonstrate that they have read and understood the study material. Constructive comment on the views expressed by the various authors is encouraged. In total, the submissions for this assignment should amount to between 1000 and 1500 words.
Need to define problem that a maintenance engineer faces in any organization in life cycle decisions. You need to communicate maintenance of assets in your work area from business perspective in a language that can be understood by the organization’s management for managing cost/ benefit and risks in an objective manner using life cycle costs.

You need to prepare a report/technical paper to provide

  1. Introduction with context of your organisation
  1. Needs and expectations of stakeholders from maintenance of specific assets
  1. Scope of your maintenance organisation to meet those expectations
  1. Level of documented system for maintenance department
  1. Commitment and support from leadership for risk based maintenance management
  1. How Life Cycle Costing is used in maintenance decision making in your organisation
  1. Any Gaps identified in current practice (appropriateness) when compared with good practices/ international standard
  1. Conclusions with opportunities for improvement (along with reasons for your conclusions)
  1. Supporting documents from your organisation as Appendix
  1. References
    1. What is time value of money? Explain how compounding and discounting are used in capital investment decisions.
Select one of the plants or equipment recently installed/ planning to be procured or already replaced. Any alternative make and or capacity was/ is available which was not considered. Use excel and attach file as embedded file in word document/ upload file in Moodle for analysing PW. AW. and FW. methods to determine investment opportunities should be undertaken. Use a MARR of 10%. If you do not have real data, then use a refrigerator for replacing your old one. Search online or talk to a store for some info on price and costs. In this case, you might have operating costs based on different power requirements and warranties.

Investment Opportunity

A                   B                     C                    D                    E
Initial investment:
Annual net receipts:
Salvage value:
Study period in years
  1. What are the different types of availability measures and how those are used in maintenance effectiveness analysis? Calculate the achieved availability for equipment, knowing the following related data:
  • ct = 0.5hr
  • MTBM u =0hrs
  • pt = 2.0hrs
  • MTBM s = 1,000hrs
N.B.        MTBMu  = Mean Time Between Maintenance (Unscheduled)
MTBMs = Mean Time Between Maintenance (Scheduled)
Use excel and attach file as embedded file in word document/ upload file in Moodle for your analysis.
Comment on what measure is used for analysing availability in your workplace or the workplace you have worked in the past or in your work experience/ project.
  1. Explain how maintainability is measured. The Mct requirement for an equipment item is 70 min. and the established risk factor is 10%.
A maintainability test is accomplished and produced results given in the table below for the
50 testing tasks (Task times are in minutes)
40 57 70 60 74 63 66 70 85 75
50 43 54 65 47 40 53 32 50 73
64 82 36 63 68 70 52 48 86 36
74 67 71 96 50 58 82 32 56 58
92 91 75 74 67 73 49 70 64 60
Use excel and attach file as embedded file in word document/ upload file in Moodle for your analysis.
Find out whether the equipment item passed the maintainability test.
Exam to be centrally scheduled between 12 June -25 Jun. Please update your address in the system and check Uni email and Uni Web for location and date.
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