Review of Reliability Engineering Techniques to Optimize Performance and Risk Management in Energy Infrastructure

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@article{1706141,
      author = {Chinedum Oscar Okuh, Emmanuella Onyinye Nwulu, Elemele Ogu, Peter Ifechukwude Egbumokei, Ikiomoworio Nicholas Dienagha; Wags Numoipiri Digitemie},
      title = {Review of Reliability Engineering Techniques to Optimize Performance and Risk Management in Energy Infrastructure},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {8},
      number = {2},
      pages = {1036-1052},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1706141.pdf},
      abstract = {This paper provides a comprehensive review of reliability engineering techniques aimed at optimizing performance and managing risks within energy infrastructure. As the energy sector faces increasing pressure to enhance system efficiency, reduce downtime, and minimize operational risks, reliability engineering becomes crucial. The review explores various reliability engineering methodologies, including predictive maintenance, Failure Mode and Effect Analysis (FMEA), Reliability-Centered Maintenance (RCM), and Root Cause Analysis, focusing on their applications in energy systems. Additionally, the paper examines advanced risk management techniques, such as Probabilistic Risk Assessment (PRA) and Monte Carlo simulations, and discusses their effectiveness in quantifying and managing risks across energy infrastructures. Integrating modern technologies, including the Internet of Things (IoT), artificial intelligence (AI), and big data analytics, is also explored for their transformative impact on reliability engineering practices. The paper highlights emerging trends such as integrating renewable energy sources and transitioning towards decentralized energy systems, emphasizing the need for evolving reliability engineering techniques to address these challenges. Key findings indicate that adopting advanced predictive maintenance strategies, integrating risk management tools, and embracing digital technologies can significantly enhance the reliability and resilience of energy infrastructure. The paper concludes with actionable recommendations for energy infrastructure organizations to optimize performance, reduce risks, and improve long-term operational sustainability.},
      keywords = {Reliability Engineering, Predictive Maintenance, Risk Management, Energy Infrastructure, Failure Mode and Effect Analysis, Digitalization and IoT},
      month = {August},
  }