This report delves into the critical aspects of asset management, design for maintainability, and reliability within an engineering context. It begins by establishing the importance of maintenance in various organizations, specifically highlighting the significance of air compressors in industrial applications and the objectives of effective maintenance strategies. The report addresses organizational challenges, including issues related to strategy, stakeholder needs, and performance measurement. It also covers the application of Life-Cycle Cost Analysis (LCCA) in maintenance decision-making, providing a framework for evaluating the economic performance of equipment over its lifespan. Detailed steps for maintaining air compressors are outlined, alongside a discussion of the time value of money, including compounding and discounting, to aid in financial evaluations. Finally, the report presents a case study of HVAC system retrofitting at Stanford University, which offers practical insights into the application of asset management principles in real-world scenarios. The report aims to provide a comprehensive understanding of the key elements involved in maintaining assets effectively.
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