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plan should rank the plant’s assets based on how critical they are to the business, and then optimize the associated maintenance tasks based on those rankings. Reliability Centered Maintenance Reliability centered maintenance (RCM) magazine provides the following deinition of RCM: “a process used to determine the maintenance requirements of any physical asset in its operating.
What is ERM? Enterprise Risk Management (ERM) is defined by the Committee of Sponsoring Organizations (COSO) as “a process, effected by an entity’s board of directors, management and other personnel, applied in strategy-setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable.
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