As seen in the models and here in the life cycle costs on an asset, maintenance
& reliability is only part of asset management. But it is a vital part which can
dramatically affect the total life cycle costs of the asset.
In a well-designed system such as a fighter jet, the initial design and
development costs are much more that designing industrial equipment as a
percentage. In addition, the production, fabrication and installation costs are
higher as more attention is paid to the quality of the work. The result is a
much lower O&M cost over the life of the asset. The cost is reduced as many
of the failure are designed out of the asset through proper design.
This positions maintenance & reliability as a vital part of asset management,
but not asset management. M&R is primarily in the O&M portion, and if am
is not used in the organization, M&R will struggle with excessive failures and
costs.