Red Room - Session 12
1:00 to 2:00 p.m. Thursday April 23, 2015
The Value of Failure and Hazard Rate of Mechanical Seals
The failure and hazard rate are often misinterpreted, which can lead to strategically wrong decisions. In this presentation, one practical example of the use of the failure and hazard rate in failure data of mechanical seals will be explained, as well as the various challenges that were addressed. The theoretical background is often hard to master, so here the calculation of the hazard rate will be shown in a step-by-step approach. The conclusions that were derived are then tested by a business approach to determine the value of the reliability efforts. The conclusions are then used to set up the Service Level Agreement with the manufacturer of the seal, to determine the indicators for success and to calculate the value of the mechanical seals.
Key Words: Failure Rate, Hazard rate, Value Calculation, Mechanical Seals, Maintenance Strategy