Page 521 - Corrosion Engineering Principles and Practice

488 C h a p t e r 1 2 489

is, the cost is down when the availability is high while it may become
quite high when the availability decreases below 90 percent.
12.4.3 Completed Maintenance Key Performance Indicator
This KPI, which provides a measure of the reliability of the corrosion
monitoring equipment, is determined from the asset’s maintenance
performance in repairing equipment faults reported during routine
corrosion inspection visits. This measure reflects the recognized
importance that equipment reliability is critical to the performance of
corrosion inhibition systems and hence is also a key cost factor. The
indicator is derived from a ratio of the number of maintenance actions
raised versus the number of actions completed in a given monitoring
period [Eq. (12.7)].
maintenance actions completed
% Completed maintenance = × 100
maintenance actions raised
(12.7)

12.4.4 Selecting Key Performance Indicators
Measures of performance have been used by management for
centuries to review current operational capabilities. Such measures
have been used to assess both departmental and corporate
performance, as well as trend performance achieved against plan. In
many industrial facilities, these measurements are related to safety
(e.g., number of incidents/accidents), environment (e.g., number of
releases), costs, and productivity. These measures are needed in order
to determine not only if resources and costs have been managed for
the production achieved, but also whether the assets or plant remain
in good health [9].
In order to define a complete set of performance measures,
companies must ensure that simple, workable measures are in place.
The real challenge is not only to select those indicators that satisfy
budgetary goals, but also to build the activities needed to meet the
levels of asset performance required. Selecting the right measures is
crucial to ensure the effectiveness of an operation. Even more
importantly, the metrics must be built into a performance measurement
system that allows individuals and groups to understand how their
behaviors and activities are fulfilling the overall corporate goals.

Asset Performance Metrics
An asset performance management initiative is comprised of business
processes, workflows, and data capture that enable rigorous analysis to
help define strategies based on best practices, plant history, and fact-
based decision support. As with many other management issues the
key to building a set of performance metrics is to do it in stages.
Clear corporate goals are needed at this point, otherwise vague objectives