You Can't Condition Monitor Random Failures
In a typical plant, only a small proportion of failure modes have a failure rate that increases with age. As a result, age-based overhaul and replacement are not appropriate management tools for most failures.
Condition monitoring—checking to see whether a failure is about to occur and intervening before it happens—is the strategy of choice to manage random failures. But is it really applicable to a purely random failure pattern?
The answer may surprise you.
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