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The Dynamic Measurement of Failure Risk

In: Digital Maintenance Management

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  • Adolfo Crespo Márquez

    (University of Seville)

Abstract

Within high digitalization operational contexts, a great amount of information related to assets operation and condition emerges. Linking this information to a reasonable measure of failure risk becomes critical for the process of CBM decision making. In this Chapter, a set of dynamic risk related concepts, their interpretation and use are reviewed. How to quantify the risk levels by interpreting data and information available is described. With the use of predictive analytics (PdA) is possible to build more sophisticated tools when needed. Nevertheless, the method introduced can be used to represent complex PdA results using a common interface. This interface can directly link maintenance decision-making related to complex assets failure modes and components.

Suggested Citation

  • Adolfo Crespo Márquez, 2022. "The Dynamic Measurement of Failure Risk," Springer Series in Reliability Engineering, in: Digital Maintenance Management, chapter 0, pages 87-97, Springer.
    • Handle: RePEc:spr:ssrchp:978-3-030-97660-6_8
    DOI: 10.1007/978-3-030-97660-6_8
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