KEY MAINTENANCE METRICS
1. Mean Time Between Failure (MTBF):
What it means: This is the average amount of time a system or piece of equipment operates smoothly before something goes wrong and it breaks down.
Why it matters: It helps you understand how reliable the system is by showing how long it can keep working before a failure occurs. The longer the MTBF, the more dependable the system is.
2. Mean Time To Repair (MTTR):
What it means: This is the average amount of time it takes to repair a system once it has failed and get it back up and running.
Why it matters: Knowing the MTTR helps you gauge how quickly your team or service can fix a problem and restore operations, minimizing downtime.
3. Failure Rate (λ):
What it means: This tells you the chance or likelihood that the system will fail during a certain period, like per hour or per day.
Why it matters: It gives you an idea of how often failures are expected to happen. A higher failure rate means the system is less reliable and more prone to breakdowns.
4. Reliability (R):
What it means: This is the likelihood or probability that the system will keep working without failure for a specific period.
Why it matters: It helps you predict how likely the system is to run smoothly for a set amount of time. A higher reliability means there's a better chance the system will operate without issues over the period you're measuring.
