Risk Assessment
In the development models, risk assessments, or maintenance strategies, one area that usually becomes difficult to address is the failure rates of components which operate in different conditions, under different stresses, and where there is little historical data available. How you define a problem that has too many variables or environmental conditions to perform any meaningful testing? A failure function development technique, known as paired comparison, can be used to significantly reduce the cost of determining failure probabilities and can be done with minimal impact on your organization.
Paired comparison is the methodology that has been around for a number of years and has been applied to many fields including aerospace systems, chemical plants, and various maritime applications.
The paired comparison methodology is of particular importance to those interested in developing failure models or risk assessments in areas where historical data can be considered sparse or nonexistent.
Lectromec has industry leading risk assessment experts available to ensure that the proper methodologies are employed for your particular situation.
Whether the application is for the development of maintenance strategies or the development of new systems, Lectromec can help define and assess the problem. Contact us to find out more.