Talk:Condition monitoring
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The criticality section does not take into account the liklihood of failure of the machines. Criticality measurement or classification may broadly be aequated to risk quantification in the risk management process. You measure both the impact or consequences, against the liklihood or frequency. This is also true in another engineering process, called Failure Mode Effects and CRITICALITY analysis (FMECA) where the failure criticality is also calculeted in a 2 dimensional matrix that considers liklihood and impact.
If a failure had a high impact but a very low liklihood - you might choose not to invest in any mitigation (such as applying condition monitoring). The cost might not be justified by the risk.
I also think the whole article is very biased toward Vibration Analysis, the whole section needs broadening out to include a much wider range of condition monitoring techniques that exist.
A link to Reliability Centred Maintenance (RCM) might also be useful. By virtue of the way the RCM decision logic is written, condition monitoring is the maintenance technique of choice if it is practical and cost effective to apply, compared with other Preventative Maintenance techniques.