Chance

In Asset Strategy Optimization, the chance of a failure occurring is determined using the following factors:

• MTTF (Mean Time To Failure)

• The MTTF weighting factor

During the set-up of an FMECA system, you specify the MTTF in a part's Failure cause field. This number indicates a certain period expressed in hours, weeks, months, or years. This duration is incorporated in a class, which you configure in the MTTF's factor classification. This class is associated with a weighting factor. In turn, this weighting factor is the number used in calculating the risk number.