7. Types of Equipment Life

Try these first

1. 1.

   What is the definition of physical life?

   Hint

   Consider the entire time the equipment is active.

2. 2.

   State one factor affecting profit life.

   Hint

   What happens as equipment ages?

3. 3.

   What does physical life refer to?

   • The entire operational period of machinery
   • The profitability phase of equipment
   • The time of minimal cost and maximum use

   Hint

   Think about the full journey of the equipment.

4. 4.

   True or False: Profit life ends when maintenance costs exceed operational gains.

   • True
   • False

   Hint

   Consider where loses start to happen.

5. 5.

   Given a scenario where multiple pieces of equipment are in use, analyze how you would prioritize their replacements based on wear, cost analysis, and future projections.

   Hint

   Look at both current and future efficiency.

6. 6.

   Create a maintenance schedule for a highly-utilized piece of equipment that considers both preventative measures and replacement timing.

   Hint

   Balance between keeping costs low and ensuring machine efficiency.