| Abstract | A facility management strategy requires that an organization's major operational concerns are dealt with, such as: avoiding the risk of catastrophic failures and eliminating any forced outage of its equipment; planning for equipment maintenance that operates under a complex operating environment; and reducing the quantity of spare parts and associated inventory costs. To bring things further into perspective, it is a well known fact that many systems suffer increasing wear with usage and age and are subject to random failures that are linked to asset deterioration. A few examples of such affected items can be seen in cutting tools, hydraulic structures, brake linings, turbine blades, and rotating equipment. In all these cases, various physical deterioration processes can be observed, such as cumulative wear, bearing wear, crack growth, erosion, corrosion, fatigue, and so on. |
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