The application of condition monitoring tools to look for signs of failure can result in cost increases if we are not careful.
Whilst we fully support CM, PdM and CBM this investment only creates a return when we can do something useful as a result of this new insight.
The failure modes that cause failures in our equipment must be managed and this can be via a mix of strategies, dependant upon the criticality of each functioning asset.
Simply buying in new CM technology will not improve the reliability of your asset population.
Our view, for what its worth, is that every company has a different aversion to risk, it has different missions and objectives. We have been taught this as a means to differentiate and to create a space for our organisations to flourish.
We must really understand what it is we can do to ensure that poor reliability does not impact in a negative way upon our business operation.
In the spirit that prevention is better than cure, intelligence gathered from our assets that we can use to inform how we maintain them is a good thing.
Whether we use this to derive either a predictive element or an early reactive capability, will be down to the strategy that each company develops.