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Optimizing Equipment Maintenance & Replacement Decisions » MA11

Optimizing Equipment Maintenance & Replacement Decisions

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04 Mar - 12 Mar, 2024Live Online7 Days$3147Register
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Course Overview

Well-maintained equipment is very important to smooth operations running in any organisation. However, it can be a great challenge to know how to replace and maintain this equipment. optimising equipment maintenance and replacement decisions course will cover methods and techniques used in making decisions that affect equipment maintenance and replacement, including both proactive and predictive methods. It begins by giving a general view of the basic concepts and principles of maintenance and replacement decisions, reliability planning, and common factors to consider when making maintenance and replacement decisions. It also covers the most common problems that are encountered when making maintenance and replacement decisions. Finally, it discusses in detail the variety of optimization models available together with presenting solutions to real-world problems.

How can I optimise my equipment maintenance and replacement decisions?

To optimise equipment maintenance, ensure that you make a regular schedule to maintain the equipment, work with only reputable dealers or service providers to get dependable availability, and replace equipment when it is necessary.

What are the most common problems with equipment maintenance and replacement?

Some of the problems with maintenance and replacement include:

  1. Lack of training for staff on how to properly maintain equipment
  2. Low maintenance funds
  3. Lack of regular maintenance

Participants taking this Zoe Talent course will be introduced to frameworks used to make these decisions including developing alternatives, identifying the objectives, selecting the best option, and assessing risks and uncertainties. They will then be given the opportunity to practice using the frameworks through practical application. The practical exercises will cover real-world scenarios such as choosing the best time to undertake preventative maintenance, deciding whether to repair or replace a piece of equipment, and identifying equipment that may fail. The skills learned will enable participants to be confident in applying the knowledge in solving real-world problems.

Course Objectives

This course is designed to familiarize participants with the methods, tools, and techniques necessary to optimise equipment maintenance and replacement decisions. It will help them:

  • Determine the best time to schedule maintenance
  • Determine when to replace equipment
  • Estimate the economic life of the equipment
  • Select the most cost-effective replacement option
  • Minimise downtime and maximise production
  • Develop comprehensive maintenance and replacement plan
  • Apply the concepts learned to real-world scenarios and make sound decisions
  • Learn how to troubleshoot equipment problems
  • Understand the different types of maintenance and replacement strategies

Training Methodology

This course will be taught using unique courseware and experienced trainers. One of the methods that will be used is the classroom setting with the instructor whiteboarding and presenting materials. The other way that it will be taught is by using a computer lab with a projector to show videos and slides. From time to time, a combination of these methods will be used such as the instructor lecturing in some parts and showing videos in other parts. It will also involve hands-on activities.

Organisational Benefits

Organisations that will have professionals that have undertaken this course will benefit in numerous ways, including

  • Optimising their maintenance and replacement decisions
  • Proper decisions made from data analytics
  • Reduced cost of equipment ownership
  • Risk management of risks associated with equipment replacement and maintenance
  • Well-developed risk mitigation strategies
  • Improved efficiency of equipment operation and decision-making process
  • Reduced machine downtime
  • Improved safety measures
  • Increased equipment availability
  • Reduced loss of equipment due to break
  • Reduced maintenance and replacement costs

Personal Benefits

This Zoe Talent course is designed to equip participants with the following benefits

  • Improved confidence and performance
  • Knowledge of developing a preventative maintenance plan
  • Ability to troubleshoot equipment problems
  • Understanding of the process of negotiating service contracts
  • Ability to select equipment replacement and maintenance strategies that best suit their organisation
  • Save on replacement and maintenance cost
  • Track and manage equipment maintenance and replacement schedules
  • Use data and analytics to optimise decisions
  • Track and manage risks of equipment replacement and maintenance

Who Should Attend?

This course is suitable for the professionals listed below, but it is not in any way limited to them, anyone interested can take it up and reap its great benefits:

  • Managers who oversee maintenance operations
  • Managers who oversee the maintenance of company assets.
  • Professionals that are responsible for making decisions about when to replace equipment
  • Engineers who use the organisation’s equipment
  • Asset managers
  • Maintenance engineers
  • Maintenance policymakers
  • Risk managers
  • Other professionals interested in maintaining their equipment

Course Outline

Module 1: Introduction: Defining Maintenance & Replacement

  • What is equipment replacement?
  • What is equipment maintenance?
  • What are some common maintenance and replacement tasks?
  • Defining the difference between replacement and maintenance
  • When to perform maintenance or replacement
  • Why is it important to perform maintenance and replacement?
  • The cost of maintenance
  • The benefits of maintenance and replacement
  • The cost of failure
  • The cost of replacement

Module 2: Why Does Equipment Maintenance & Replacement Matter?

  • The benefits of equipment maintenance
  • The process of equipment replacement
  • The importance of regular equipment maintenance
  • Consequences of poor equipment maintenance
  • Importance of routine maintenance
  • The cost of equipment maintenance

Module 3: Optimizing Maintenance & Replacement Practices

  • Benefits of optimising maintenance and replacement practices
  • Best practices for maintaining and replacing equipment
  • How to reduce downtime with optimised maintenance and replacement practices
  • Benefits of performing scheduled maintenance
  • How to optimise maintenance and replacement activities
  • Cost of savings of optimised maintenance and replacement

Module 4: Developing a Maintenance & Replacement Strategy

  • Determining when to replace equipment.
  • Installing replacement equipment
  • Developing a replacement strategy.
  • Developing a budget for replacement and maintenance
  • Determining what maintenance is needed on equipment
  • Finding the replacement equipment
  • Tracking maintenance and replacement activities
  • Tools and techniques of replacement and maintenance
  • Scheduling maintenance and replacement

Module 5: Implementing a Maintenance & Replacement Plan

  • Defining maintenance & replacement plan
  • How to implement a maintenance & replacement plan
  • Determining the best time to implement a maintenance and replacement plan
  • Who is responsible for maintenance and replacement?

Module 6: Evaluating Maintenance & Replacement Programs

  • Identifying maintenance and replacement issues
  • Evaluating the results of your maintenance and replacement programs
  • Determining the most effective maintenance programs for your needs
  • comparing the cost of different maintenance programs
  • Assessing the effectiveness of your maintenance and replacement program
  • Assess the risks associated with a maintenance or replacement program
  • Identifying the impact of a maintenance or replacement program on the budget

Module 7: Maintaining & Replacing Equipment for Optimal Performance

  • Troubleshooting equipment problems
  • performing routine maintenance according to the manufacturer’s recommendations
  • Storing equipment properly to prevent damage
  • Regularly cleaning and inspecting equipment for wear and tear
  • Replacing equipment when needed or when it reaches the end of its useful life

Module 8: Maintenance and Replacement Strategies

  • Preventative maintenance
  • Proactive maintenance
  • Emergency maintenance
  • Infrastructure replacement
  • Schedule maintenance
  • Equipment replacement

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