A risk‐based maintenance management model for toll road/tunnel operations

Preventive maintenance (PM) has long been recognized as a method to increase equipment reliability and availability. However, for equipment in complex plant installations like toll road/tunnel systems, to carry out PM on all components may not be feasible, or, may end up with excessive maintenance costs. This paper describes how a risk‐based maintenance management model was formulated to systematically prioritize PM activities. The model was based on the five core elements of the risk management process (RMP): identification, measurement, assessment, valuation, and control and monitoring. This model was applied to a toll road/tunnel company in Hong Kong to enhance the PM operations of its lighting system. The improvements recommended in this case study show that the application of RMP in preventive maintenance could effectively identify and assess potential risks for equipment and facilities. The RMP results provide quantified information for decision‐makers to select the best course of actions for implementing a more cost‐effective risk‐based PM system.