The business case for integrating PHM into the design process
(subtitle: "Confirming that a stitch of PHM saves nine")
The business case for integrating PHM into the design process
In the past, the business case presented for introducing PHM was often not sufficient to overcome the momentum of the current industry standard design process - when the information required to design and validate PHM system requirements was not available until too late in the design process to influence the design.
PHM can now be applied to legacy systems, and optimal PHM capability is achieved by modeling the cost impact of PHM on both system design and operational performance as a continuous improvement process. For this reason, the business case for PHM should identify cost benefits and risk mitigation that can be achieved for the system design process.
A bit about Chris Stecki, CEO PHM Technology Inc
Chris Stecki is the founding CEO of PHM Technology Inc (PHMT), the company that develops the Maintenance Aware Design environment (MADe) suite of software tools. MADe is a decision support tool that provides the engineering requirements for PHM and Condition Based Maintenance (CBM). Financially supported by the JSF Program Office, MADe has customers globally in a number of industries including defence, oil and gas and mining.
PHM to Speak @ IEEE PHM Panel of Affordability
