Suppose all your equipment is prioritized for PM and PdM purposes based on replacement cost and failure rate. Now suppose you have six production lines and each of them has several Priority 5 items. Let’s say that among these low priority items are several small drive motors on each line.
Now the problem here is when just one drive motor fails, the whole line shuts down. This means the dozen or so pieces of equipment in that line that are Priority 1 and Priority 2 also shut down. You may as well have them identified as Priority 5.
You need to think of each production line and its product flow, not just individual pieces of equipment that comprise that line. Get the data from production so you can rank each line by its revenue or profit. Then prioritize maintenance for each entire line, as a system, based on where it ranks. Also, consider the support equipment outside the line itself, such as lighting, plant air, and ventilation.