Name: Decision Analysis for Operations and Maintenance
Price: 4500.00 EUR
Availability: InStock

Maintenance and operations managers make difficult choices every week: repair or replace, run to failure or maintain, spend now or defer, keep a spare or accept the risk. Too often these choices are made with incomplete data, without a consistent way to weigh cost, risk and performance, and without a clear record of why one option was chosen. The result is over-maintenance of some assets, unexpected failures of others, and budget requests that are hard to defend.

This programme applies structured decision analysis to real operations and maintenance problems. It moves from framing the decision and objectives, to using failure and reliability data, to assessing risk and uncertainty, to comparing options on life-cycle cost and value, and finally to building a defensible investment and maintenance plan that decision makers can approve.

Built on recognised practice. The programme references the ISO 55000 series on asset management, IEC 60300-3-11 on reliability-centred maintenance, IEC 60300-3-3 on life cycle costing, IEC 31010 on risk assessment techniques, and the risk-based inspection approach in API RP 580 and 581. Methods are taught in a form that engineers can use with spreadsheet tools.

Decisions this programme improves. Which maintenance strategy suits each asset; when to repair, overhaul or replace; how many critical spares to hold; how to prioritise a constrained maintenance budget; whether a reliability improvement is worth its cost; and how to present these decisions to senior management with the risks made visible.

How it is delivered. Twenty hours across five sessions, built around one running case: an ageing production facility with a fixed budget, a list of competing maintenance and replacement requests and limited failure data. Participants build decision trees, a simple reliability model, a risk-ranking matrix and a life-cycle cost comparison, and prepare a prioritised plan.

In-house option. For organisations, the programme can be tailored to your own asset classes, criticality rankings, maintenance management system data and approval processes, and delivered to maintenance, operations, reliability and finance teams together.

Who Should Attend

Maintenance leaders: maintenance managers, maintenance planners and maintenance superintendents

Reliability and asset management staff: reliability engineers, asset managers and asset integrity engineers

Operations leaders: operations and plant managers responsible for availability and production

Engineering staff: mechanical, electrical and instrumentation engineers involved in repair and replacement decisions

Finance and planning staff: who evaluate maintenance budgets and capital replacement requests

Objectives

Frame an operations or maintenance decision with clear objectives, options and criteria

Use failure history and reliability measures such as MTBF, availability and failure patterns to inform decisions

Rank assets by criticality using consequence and likelihood of failure

Select maintenance strategies using reliability-centred maintenance logic

Build and solve decision trees and expected value calculations for maintenance options

Apply sensitivity analysis and simple simulation to test how uncertainty affects a decision

Compare repair, overhaul and replacement options using life-cycle cost and net present value

Determine critical spares holdings by balancing inventory cost against downtime risk

Prioritise a constrained maintenance and renewal budget using multi-criteria analysis

Present a decision and its risks in a form senior management can approve

Course Outline

Framing Operations and Maintenance Decisions

Common decision traps: urgency, anchoring, sunk costs and overconfidence
Structuring a decision: objectives, options, criteria and constraints
Asset management principles and the line of sight to organisational objectives
Asset criticality ranking and consequence categories
Decision rights and the roles of operations, maintenance, engineering and finance
Recording decisions and assumptions for later review

Using Reliability and Failure Data

Sources of data: maintenance management systems, condition monitoring and operator logs
Data quality problems and how to work with limited data
Reliability measures: MTBF, MTTR, availability and failure rates
Failure patterns and Weibull analysis in practical terms
Failure modes and effects analysis as an input to decisions
Condition monitoring and predictive analytics: what the data can and cannot tell you

Risk and Uncertainty in Maintenance Decisions

Risk matrices and their limitations
Reliability-centred maintenance decision logic
Risk-based inspection principles for static equipment
Decision trees and expected monetary value
Sensitivity analysis and tornado charts
Monte Carlo simulation for maintenance and downtime scenarios

Life-Cycle Cost and Economic Comparison of Options

Life-cycle cost elements: acquisition, operation, maintenance, downtime and disposal
Time value of money, discount rates and net present value
Repair, overhaul or replace: economic life and replacement timing
Critical spares decisions and inventory trade-offs
Energy efficiency and emissions as decision criteria
Outsourcing versus in-house maintenance

From Analysis to an Approved Plan

Multi-criteria decision analysis for competing requests
Prioritising a constrained maintenance and renewal budget
Building the business case and presenting risk to decision makers
Linking decisions to key performance indicators and review
Learning from outcomes: post-decision reviews and continuous improvement
Action plan: applying decision analysis in your maintenance organisation

Competencies

Structured decision framing for operations and maintenance

Asset criticality ranking

Reliability data analysis and interpretation

Maintenance strategy selection using reliability-centred maintenance logic

Decision trees and expected value analysis

Uncertainty and sensitivity analysis

Life-cycle cost and replacement timing analysis

Critical spares optimisation

Maintenance budget prioritisation and business case presentation

Dubai

Elite Academy can deliver its complete portfolio of professional training programs in Dubai. With a global business, aviation and services hub with excellent international accessibility, the destination suits both scheduled learning and tailored arrangements for organizations or individual professionals. As an Elite Academy training destination, Dubai provides access to our full portfolio rather than a city-specific set of specializations. The city is a global business, aviation and services hub with excellent international accessibility, creating a suitable environment for organizations developing their teams and for professionals attending independently. Upcoming scheduled courses are listed on this page, while any other Elite Academy program can also be requested for delivery in Dubai, subject to scheduling and delivery requirements. Explore the schedule or browse our training areas to find the right option.

Decision Analysis for Operations and Maintenance