The next evolution of reliability modeling
In March, this company introduced an improved approach to reliability modeling, called Quantitative Reliability Optimization (QRO). This new approach streamlines current reliability methodologies into a single, comprehensive analysis, empowering leaders in processing industries to make smarter decisions at a lower cost. QRO links every relevant reliability data point to the facility level and provides for advanced simulation of reliability investment and associated reliability performance. Because everything is related in one powerful model, a reliability or operational leader can leverage the approach to optimize all reliability and maintenance investments to hit specified future reliability and process safety targets. Successfully deploying QRO will allow companies to make near real-time decisions by understanding the reliability implications of changes in process, economics, operations or maintenance. In addition, QRO will provide common reliability language between field workers, engineers and corporate executives, which help facilities better align and increase bottom-line value, says the company. — Pinnacle, Pasadena, Tex.