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Reliability is the probability of equipment or processes to function without
failure when operated correctly for a given interval of time under stated
conditions.
Abstract

Reliability is the probability of equipment or processes to function without
failure when operated correctly for a given interval of time under stated
conditions. Equipment and processes failures waste money on unreliability
problems. The business issue of reliability is control of failures to reduce
costs and improve operations by enhancing business performance with affordable
levels of reliability. Reliability numbers by themselves lack motivation
for improvements. However, converting unreliability into monetary values,
causes numbers to spring to life and guides actions for making cost effective
changes, by using actual plant data for costs and failures. Reliability engineering
tools are discussed which assist plant improvement programs for reducing
the high cost of unreliability.
 
Summary

We talk about reliability but we deal with failures which add to the cost
of doing business. Businesses cannot afford too little reliability nor too
much reliability. The cost of unreliability must be engineered and controlled.
Many new reliability tools are available for use. Many new books on the subject
are available. Staffs must be trained in the use of new tools to gain a competitive
advantage for businesses willing to invest in increasing skills to reduce
costs. Reliability in many ways is a “pay me now or pay me later situation”.
Cutting edge companies are using these new tools cost effectively. Can your
business wait to gain an advantage?
 
See attachment ‘Reliability Engineering Principles’ for details.

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