This paper illustrates the applicability of the proposed
methodology by applying it to a HVAC system. Initially,
the complete HVAC system is divided into 10 different
units. Among these units, four—damper motor, freeze
protection unit, EP relay unit, and supply air fan—were
identified to be most risky, and contributing the
maximum in the overall risk of HVAC failure. An
inspection/maintenance schedule has been worked for all
four units. It is further demonstrated analytically that the
implementation of this inspection/maintenance schedule
would bring down the high level of unacceptable risk to
an acceptable level.