20 September 2018 Value / Cost justification Login
Cost justification for a Motornostix monitored installation

The table below illustrates the potential financial benefits associated with detecting machine failure conditions timeously. Through early detection of failure conditions cost savings are made by eliminating a certain amount of unscheduled downtime due to break-downs, and by replacing costly unscheduled down-time with scheduled maintenance down-time work that is less costly.

 

1. Cost saving due to elimination of unscheduled down time

Probability that a potential failure condition is detected - conservative

30%

Cost of unscheduled down time due to failure (cost/hour)

20 000

Current unscheduled down time (hours per year)

60

Fraction of unscheduled down time that could be eliminated by early detection of failure condition

20%

Cost saving:

72 000

2. Further cost saving due to unscheduled down time replaced by scheduled down time

Probability that a potential failure condition is detected - conservative

30%

Cost of scheduled down time (cost/hour)

5 000

Current scheduled down time (hours per year)

150

Fraction of unscheduled down time that could be replaced by scheduled down time due to early detection of failure condition

20%

Cost saving:

43 200

Total cost saving

115 200

 3. Secondary savings - quantifiable as a general saving

Secondary damage ratio (Failure repair cost vs Preventive repair cost)

3x

Secondary cost saving  - resources applied more effective to perform preventive work

Plant/Mine specific

Improved safety

Product quality

Extend life of machine

Employee pride and moral improve

Reduce inventory

Improve OEE

 

 

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