Criticality Analysis is a Quantitative Analysis to assess the potential impact of equipment failure in the areas of:

• Safety
• Environmental
• Quality
• Production loss / Throughput
• Customer Service
• Operating cost

and the ranking of those Assets according to their impact on the business

Risk of equipment failure is being assessed based on

• Probability of occurrence of failure
• Consequences of failure

Risk = Probability of Failure x Consequences of Failure

Criticality Analysis can be performed for all assets and assets to be sorted out as a High Critical, Medium Critical, Low Critical and Non-Critical. Based on the criticality level of individual assets different Maintenance Strategy Development methodologies can be applied for individual assets.