Lifecycle Management is defined as the process of managing the entire lifecycle of fixed pressurized equipment including new construction, in-service use, repair if required, and retirement. The key elements of the LCM framework are Damage Mechanism Identification, Construction codes and standards, in service inspection codes, FFS Standard, and Post Construction & Repair guidelines.
The benefits of implementing a LCM system are improved safety & risk reduction, optimization of construction, management of future maintenance and inspection costs, maximization of equipment availability, and regulatory compliance.
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