Patent ID: 7236910

Claim:
A process for calculating a mean-time-to-failure (“MTTF”) metric for a given type of equipment placed into service, the process comprising: maintaining a central database; accessing the central database from a remote terminal through an interface; entering performance information about the given type of equipment into the central database through the interface, wherein the interface restricts the entered performance information into the central database to a controlled group of responses to a series of scripted prompts; validating the entered performance information against a set of rules; and analyzing the validated performance information to calculate a mean-time-to-failure (“MTTF”) metric according to the formula: MTTF =( N×T )/ F, where, N is a selected number of wells in which the given type of equipment is placed into service; T is a selected time period; and F is a number of failures; and displaying the MTTF through the interface for use in improving performance of the given type of equipment.