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Investing in Corrosion Monitoring - Cost Benefit Considerations

When an investment in corrosion control and monitoring activities requires justification, the risk of various corrosion costs needs to be considered. The following corrosion cost factors can be important, beyond the simple replacement costs of a corroded component.

 

  • Secondary damage (a corrosion failure in one component/system can lead to other damage/problems)

  • Overdesign (excessive corrosion allowance)

  • Lost production / shutdowns

  • Maintenance costs

  • Loss of product

  • Contamination of product (waste, loss in revenue)

  • Environmental damage

  • Loss of consumer confidence (reduced sales)

  • Loss of in-house worker confidence (low morale, labor unrest)

  • Litigation costs

  • Safety (risk to life, incalculable)

  • Depletion of natural resources (metals/ alloying additions as a scarce, strategic resource in several countries)

  • Loss of efficiency (reduction in heat transfer in presence of corrosion products)

  • Loss of aesthetic appeal

  • Depreciation costs (significant in automobiles, for example)

  • Loss in productivity / trade (shut down of highway bridges leading to traffic jams, port facilities)

  • Loss in revenue (toll bridges, toll gates, harbors and marinas)

  • Regulatory compliance (clampdown by authorities following a corrosion incident)

  • Penalties of regulatory non-compliance (not following required procedures)

  • Diversion of human resources from core business / activities to deal with corrosion problems and their consequences

  • Decreased operational readiness (military)

  • Incomplete missions (military)

 

Links:
Corrosion cycle
Maintenance approaches
Corrosion costs in industries/regions
Corrosion management and mismanagement
www.corrosioncost.com

 

    

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E-mail: tullmin@sympatico.ca