Cost equation If downtime or lost production costs are calculated for the asset, the default cost equation is selected, if applicable. This is the calculation rule used to determine the costs of a downtime incident or reduced throughput. See Also Downtime Period of time that the asset will not function in the event of a failure. See Also Reduced throughput When the failure mode results in reduced production instead of downtime, record the amount of time that reduced throughput is in effect. See Also Reduced throughput cost APM calculates the cost of reduced throughput using the reduced throughput amount, the operating percentage, and the cost equation. See Also Downtime costs APM calculates the downtime cost using the downtime amount and the cost equation. See Also Miscellaneous costs Additional costs not included in the downtime or reduced throughput costs. See Also Lost production cost APM calculates the lost production cost by adding the downtime costs, miscellaneous costs, and reduced throughput costs. See Also Lost production quantity In detailed evaluations, lost production quantity is calculated based on the cost equation’s intervals, which specify monetary values and quantities per duration (for example, hours). See Also Materials Monetary cost for materials to repair equipment in the event of the asset’s failure. See Also Equipment Monetary cost for equipment to repair the asset in the event of failure. See Also Contractors Monetary cost for contract workers to repair equipment in the event of the asset’s failure. See Also Miscellaneous Additional monetary cost to repair the asset in the event of failure. See Also Total repair costs APM calculates the total repair costs. See Also Labor costs APM calculates the labor cost by adding the costs for each trade. See Also Secondary damage costs Monetary cost of the secondary damage caused by the failure. See Also Secondary damage costs Additional damage caused to other assets by the initial or primary failure. If appropriate, select this option and enter an amount and a description of the damage. This information is included in the total costs and shown on the Failure Data tab. See Also Secondary damage description Description of the secondary damage caused by the failure. See Also Occurrence costs Estimated fixed cost associated with a downtime occurrence. For example, this could be a fixed cost associated with restarting a machine after it has been shut down. When failure mode optimization requires Isograph Availability Workbench, this attribute is mapped to project effect per occurrence cost in AWB. See Also Cost of multiple failures (Cm) Estimated cost if a protected function fails while its protective device or protective system is in a failed state. See Also Severity Severity indicates the relative criticality of the consequence when a failure occurs. See Also Analyzed by The analysis team member who performed the evaluation. See Also
