SEMI-QUANTITATIVE RISK ASSESSMENT MODEL FOR ROTATING EQUIPMENT

The failure of the critical rotating equipment can bring the catastrophic risk for the
plant. Therefore, there is a need ofrisk assessment of such critical rotating equipment
to reduce risk level. However, previous risk assessment methods, i.e. qualitative,
quantitative, semi-quantitative has many restrictions to carry out risk assessment. This
study proposed a semi-quantitative risk assessment model to assess the risk ofrotating
equipment. It was consisted of three main parts, i.e. risk assessment, Failure Mode
and Effect Analysis (FMEA) and maintenance strategy planning. The quantitative risk
.matrixwasused for Jhe_ risk assessment of rotating equipment. It was adopted from
the MIL-STD882D standard, which was consisted of two basic risk factors, failure
rate and failure consequences. Borda ranking method was incorporated to minimize
the risk ties that exist in risk matrix ranking. The risk assessment spreadsheet model
was developed to automate the risk assessment process.