Criticality Analysis: Identifying & Prioritizing High‑Risk Equipment

Criticality and reliability are inseparable. We prioritize preventive maintenance for the most vital assets, design TPM plans around critical equipment, and conduct root‑cause analyses for machinery deemed high priority. The core question is: how do we decide what is truly “critical”? The answer lies in risk assessment. A rigorous criticality analysis reveals the potential threats that could jeopardize your operations.

What is Criticality Analysis?

Criticality analysis is a systematic method for assigning a risk‑based rating to each asset. Think of it as a focused component of a broader Failure Modes, Effects & Criticality Analysis (FMEA/FMECA). While FMEA identifies all possible failure modes and evaluates their impact, FMECA quantifies the risk of each mode and prioritizes corrective actions. The result is a clear, data‑driven hierarchy of equipment based on risk.

Why Criticality Analysis Matters

James Kovacevic of Eruditio explains that a structured, risk‑oriented evaluation removes emotion from the equation. Reliability decisions are then grounded in objective risk rather than individual perception. Once assets are ranked, maintenance teams can focus resources where they matter most and reduce risk systematically.

Who Should Conduct the Analysis?

Industry experts agree that criticality analysis is most effective when performed cross‑functionally. Input from operations, maintenance, engineering, materials management, and health & safety teams ensures that diverse risk perspectives are captured and biases are minimized.

How to Perform a Criticality Analysis

Two common approaches yield a Risk Priority Number (RPN) for each asset, enabling prioritization.

1. 6×6 Severity‑Probability Grid

Plot the severity of a consequence on the X‑axis against its probability on the Y‑axis. A high probability of a severe outcome places an asset in the highest risk quadrant, warranting immediate attention.

Source: accendoreliability.com

2. Consequence‑Category Multiplication

Separate consequences into categories—Health & Safety, Environmental, Operational. Rate each category’s severity (1–6). Multiply the ratings to calculate the RPN. This method highlights how a failure may impact multiple dimensions.

Source: accendoreliability.com

Grouping Assets by Risk Category

Source: accendoreliability.com

After ranking assets, maintenance managers can base decisions on quantified risk, streamlining reliability processes and boosting operational resilience.

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