Transcription of Life Cycle Cost & Reliability - Barringer1.com
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Life Cycle Cost & Reliability - Barringer1.com
life Cycle cost & Reliability for Process EquipmentH. Paul Barringer, & Associates, , TX8th Annual energy WEEK Conference & ExhibitionGeorge R. Brown Convention CenterHouston, TexasJanuary 28-30, 1997 Organized byAmerican Petroleum Institute,2 American Society of Mechanical Engineers,andPennWell Publishing3 life Cycle Costs & Reliability for Process EquipmentH. Paul Barringer, , Barringer & Associates, Inc.,P. O. Box 3985, Humble, TX, Phone: 281-852-6810, FAX: 281-852-3749 ABSTRACTLife Cycle costs (LCC) are cradle-to-grave costs summarizing all ownership costs. Reliability plays animportant role in selection of equipment for lowest long term cost of ownership. Results of a MonteCarlo simulation using an Excel spreadsheet show good maintenance practices (GMP) can alteroutcomes of both cost and Reliability . Maintenance strategies are shown for an API pump using Cycle cost DEFINITIONSLife Cycle costs are summations of estimated cost from inception to disposal for both equipment andprojects as determined by an analytical study and estimate of total costs experienced during the life ofequipment or projects (Barringer 1996a).
Life Cycle Cost & Reliability for Process Equipment H. Paul Barringer, P.E. Barringer & Associates, Inc. Humble, TX 8th Annual ENERGY WEEK Conference & Exhibition George R. Brown Convention Center
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