Document Type : Original Research Article

Author

Department of Environmental Civil Engineering-Water and Wastewater Engineering, Ahvaz Branch, Islamic Azad University, Ahvaz, Iran

Abstract

The overall aim of the maintenance and repair process in industrial companies is to reduce costs and increase the benefits of operating and optimize life cycle costs, taking into account all safety considerations. Choosing a maintenance and repair strategy is one of the most complex and necessary processes that can affect the safety and cost of equipment. The main aim of this study is to select a risk-based maintenance and repair strategy to improve safety, maintenance and repair indexes. Risk assessment integrates product reliability with safety and environmental issues and can therefore be considered as a decision-making tool for repair planning. One of the most important strategies in the field of maintenance and repair planning and optimization of related activities is the system or process of maintenance and repair with Reliability Centered Maintenance (RCM). This system provides a framework for all the physical facilities and equipment of organizations to continuously fulfill their planned tasks in the specified operational context. Risk analysis-based repair planning can reduce the likelihood of system failure and the consequences of such failures and help management make the right decisions to make the right investment in maintenance and repair and thus lead to better use of existing assets and capital

Graphical Abstract

Risk Management with Maintenance and Repair Strategy in Industries

Keywords

Main Subjects

[1]. M. Karami, A. Samimi, M. Jafari, “The necessity of risk management evaluations in petrochemical industries”, 2(3), 151-158, 2020
[2]. I.V. Osinovskaya, Prinyatie upravlencheskih reshenij v usloviyah riska (Management decision-making under risk), Economy and Entrepreneurship, 8-1 (2015), 767-770
[3]. A. Domnikov, G. Chebotareva, M. Khodorovsky, Systematic approach to
diagnosis lending risks in project finance. Audit and Finance Analyses, 2 (2013), 114–119
[4]. A. Samimi, S. Zarinabadi, A. Bozorgian, A. Amosoltani, M. Tarkesh, K. Kavousi, Advances of Membrane Technology in Acid Gas Removal in Industries, Progress in Chemical and Biochemical Research, 3 (1) (2020), 46-54
[5]. A. Domnikov, M. Khodorovsky, P. Khomenko, Optimization of finances into
regional energy. Economy of Region, 2 (2014), 248–253
[6]. M. Karami, A. Samimi, M. Jafari, “The Impact of Effective Risk Management on Corporate Financial Performance”, 2(3), 144-150, 2020
[7]. T. Shattuck, A. Slaughter, P. Zonneveld, refining at risk, Securing downstream assets from cybersecurity threats, A report by Deloitte Center for Energy Solutions, 2017
[8]. A. Trujillo-Ponce, R. Samaniego-Medina, C. Cardone-Riportella, examining what best explains corporate credit risk: accounting-based versus market-based models. Journal of Business Economics and Management, 15(2) (2014), 253–276
[9]. A. Domnikov, P. Khomenko, G. Chebotareva, A risk-oriented approach to capital management at a power generation company in Russia. WIT Transactions on Ecology and the Environment, 186 (2014), 13–24
[10]. M.Kh. Gazeev, N.A. Volynskaya, Sovremennye ogranicheniya i riski razvitiya gazovogo sektora ehkonomiki rossii Contemporary limitations and development risks in the gas sector of the Russian economy. Bulletin of Higher Educational Institutions, 3 (2012), 37-41
[11].A. Samimi, Risk Management in Information Technology, Progress in Chemical and Biochemical Research, 3 (2) (2020), 130-134
[12].A. Samimi, “Risk Management in Information Technology”, Progress in Chemical and Biochemical Research 3 (2), 130-134, 2020
[13]. J. V. Rosenberg and T. Schuermann, "A general approach to integrated risk
management with skewed, fat-tailed risks," Journal of Financial Economics, 79, 569-614, 2006.
[14]. M. R. Walls, "Corporate Risk Tolerance and Capital Allocation: A Practical Approach to Setting and Implementing an Exploration Risk Policy," Society of Petroleum Engineers, 1994.
[15]. P. Delquie, "Interpretation of the Risk Tolerance Coefficient in Terms of Maximum Acceptable Loss," Decision Analysis, 5, 5-9, 2008.
[16]. A. Ben-Tal and M. Teboulle, "Expected utility, penality functions and duality in stochastic nonlinear programming," Management Science, 32, 1445–1446, 986.
 [17]. A. Street, "On the Conditional Value at Risk Probability dependent Utility Function,"Internal Research Reports, 2009.
[18]. L. Andrieu, M. D. Lara, and B. Seck, "Optimization under risk constraints: an
economic interpretation as maxmin over a family of utility functions," presented at the Seminaire Louis Bachelier, 201