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Financial, operational, and quality benefits from the Prognostic Report

Financial benefits for budget providers

The Prognostic Report yields tangible financial benefits by reducing preventive maintenance costs, reactive maintenance costs, and/or costs for firefighting. Such savings are subject to one caveat: the asset operator must be able to revise maintenance schedules based on the reported diagnostic and prognostic results. With a static maintenance schedule based on a purely preventive maintenance strategy, a Prognostic Report will still have tangible advantages, but less so at the financial level.

Operational benefits for reliability managers

The Prognostic Report provides additional operational benefits for reliability managers at the interface between condition monitoring and asset management. These include aggregated diagnostic insights, prognostic foresight over variable time horizons, and advice on optimal maintenance decisions. The Prognostic Report supports communication with management on PdM status, impact, and/or further investment needs. In some industries, it also supports communication with legislators, or allows PdM benchmarking within the company or with other companies.

Quality benefits for condition experts

Our Prognostic Reports and the associated documentation of their configuration process are good communication tools for in-house condition experts. Condition experts are typically alarm owners for the assets reported on, and have responsibilities to justify diagnostic and prognostic assessments and alarm decisions to operations and maintenance. Quality benefits include exchange of experiences on condition parameters, shared ownership of alarm decisions, and contributions to a next-generation prognostic reporting standard.

What are the benefits of the Cassantec Prognostic Report? Contact Us

The Prognostic Report enables asset operators to achieve significant cost savings on a variety of levels:

  • Reduced preventive scope and frequency
  • Shift of maintenance into periods with low maintenance costs
  • Shift of maintenance into periods when revenue from production is low
  • Reduction of unscheduled maintenance and repair
  • Better maintenance work order preparation
  • Preemption of damages
  • Reduction of redundancies
  • Enhanced reputation
  • Determination of decrease in risk vs. the costs of maintenance

With the Cassantec Prognostic Report you can not only lower costs but also secure your position as a leader in quality, reliability, and availability!

Why is it never too early to start Prognostics?

>> Read about the benefits from starting early.

Example benefits for different stakeholder groups:

(These example benefits can be further detailed):

Reduced preventive maintenance costs (redundant maintenance postponed)

Parts replaced following manufacturer-recommended schedules are often as good as new, and could be replaced in later periods. Additionally, unscheduled preventive maintenance due to inconclusive condition data could be postponed until the next scheduled maintenance, or be avoided altogether, through appropriate foresight. The Prognostic Report provides transparent, quantitative risk-versus-cost arguments for postponing service interventions.

Reduced reactive maintenance costs (malfunctions recognized early)

Malfunctions may be identified too late and lead to unplanned shut down with high repair or replacement costs, costs for lost or off-class production, and additional scrap or cleansing costs. The Prognostic Report offers refined diagnostic insights based on a computational technology complementing the in-house condition expert opinion. It flags critical conditions that can only be recognized via probabilistic inference, condition data aggregation, and/or historical data analysis.

Reduced firefighting effort

Unscheduled maintenance, late or inconveniently scheduled work orders, or quick responses may imply evening or weekend overtime costs and/or costs for related staff redundancies. The Cassantec Prognostic Report provides an extended planning horizon, saving evening/weekend overtime due to better foresight.

Aggregated diagnostic insights

Reliability managers face a myriad of asset information at the component level. To answer the top-level question, "Are we OK for now?", reliability managers need to aggregate component data to the system level, and consolidate condition data from different condition monitoring technologies. The Prognostic Report covers these tasks, and supports the in-house communication of diagnostic results and insights.

Prognostic foresight over different time horizons

Based on the reported prognostics, reliability managers need to answer the recurrent question: "How long is the current situation going to last?" The Prognostic Report provides prognostic foresight, offering different time horizons (e.g. 10, 100, 1,000 days) wherever possible.

Optimal and justifiable maintenance decisions

Reliability managers ultimately need clarity on whether new condition data necessitates a revision of maintenance decisions. The recurrent question, "What if we schedule maintenance at time X rather than Y?", needs to be addressed. The Prognostic Report ultimately provides the answers as an automated maintenance decision advisor.

Exchange of experience on condition parameters

The formulation and quantitative specification of condition parameters and malfunction modes during the report configuration process supports knowledge exchange on condition parameters among in-house experts, possibly also involving external experts. It is a rare occasion for condition experts to share condition-parameter-related rules of thumb and malfunction-related knowledge with their peers.

Shared ownership of alarm decisions

The Prognostic Report supports expert discussions about immediate actions to be taken, as well as peer reviews and post-audits of the underlying assumptions and data. This promotes team ownership of alarm decisions and short-term reactions, rather than individual ownership with a subsequent burden of communication.

Contribution to next-generation standards

Condition experts have an opportunity to shape the next generation of diagnostic and prognostic reporting standards to their needs. Again, a rare opportunity, as condition monitoring is not spoiled with innovation that would drive new standards.