| Word of Phrase |
|
Definition |
| Key performance Indicator
(KPI) |
|
A measurement of process performance. |
| Key Process |
|
The key processes for IDCON’s Current
Best Practice (CBP) assessment format are:
1.Leadership and organization
2.Preventive Maintenance
3.Planning and Scheduling
4.Root Cause Problem Elimination
5.Technical Database 6.Materials Management
7.Skills Development maintenance
8.Safety – Maintenance
9.Engineering
illustration |
| Life Cycle Cost (LCC) |
|
Total cost for acquiring, owning and disposing
physical assets. Includes direct operational and maintenance costs
and indirect costs for lost production when system fails. |
| Life Cycle Profit (LCP) |
|
The present value of all revenue the equipment
has generated less the LCC. |
| Log Book |
|
Usually refers to operations log for problems
found during shift. |
| Logic Tree |
|
A charting method for why-why analysis. |
