Using a Mining case study as an example, this presentation demonstrates how to project revenue with a realistic approach using proper reliability analysis.

 

The failure behaviors of assets not only affect the maintenance cost, but also the production throughput. The equipment involved are modeled based on its respective failure modes using Reliability Block Diagrams and the Fault Tree approach. Life distribution of failure modes is estimated using field data and common distribution models.

 

In this example, a simulation run for 1 year of operation was performed. The estimated maintenance costs, downtimes and throughput were used to project the profit during the feasibility study phase of a contract.