RCM - Essay ExampleRCM covers both the risk of physical and operational failure and considers events that could reasonably cause an asset to cease performing any of its desired functions (Mutual Consultants Ltd 2009). Proper maintenance of assets while important for both households and businesses is fundamental to the operating efficiency of businesses. The failure of a critical asset can have devastating consequences for a business if it cannot be repaired or replaced quickly. In order to ensure that adequate maintenance takes place a maintenance program needs to be implemented for all equipment in use. This program should be capable of predicting the degradation or failure of an equipment before it happens. An RCM program can lead to increased operating performance, reduced maintenance costs and reduced energy bills (Chimack et al n.d.). 2.
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