How to Show Value of a Reliability Test
Join Adam and Fred as they discuss how to determine ROI for investment in reliability activities
- Find ways to anchor the benefits of the reliability work to actual dollar values.
- Anchoring can be done using an internal trusted expert or actual historical incidents that have measured dollar value losses associated to them
- Create a method for expressing the value that takes out the opportunity for doubters to argue actual value. One method is to cut the estimated value in half and set a goal for reliability to only require an investment of ¼ that derated return value.
Enjoy an episode of Speaking of Reliability. Where you can join friends as they discuss reliability topics. Join us as we discuss topics ranging from design for reliability techniques, to field data analysis approaches.