ABSTRACT
Reliability centered maintenance (RCM) is the most successful method for developing failure management policies with the aim of sustaining the functional performance of the physical assets. Asset management has been around from prehistoric days, when people first thought of using tools and weapons. A key outcome of good asset management is the management of risks to the business. The better the design of the asset, the more successful it will be in doing what its user wants of it. Early in the life cycle, anything that can improve the design without adding risks and costs is beneficial. RCM works best in an environment where precision maintenance is the norm and where management systems are able to sustain high levels of production with low levels of variability. Asset management is a broad and holistic discipline that includes the management of maintenance and uses RCM as a primary tool to drive maintenance and engineering decisions.
