Manufacturing Company is a company that carries out the production process from raw materials into goods that have sale value, the use of machinery is very important for the production process. The use of machines is very important because when a machine fails then the production process must stop and the company suffers a loss due to the failure. This can occur due to excessive use of machinery, to reduce this it is necessary to take action or maintenance policies. The purpose of this research is to assess the risk of failure due to a decrease in engine performance, an assessment of the economic life of the engine, and maintenance policies whether to use an old machine or replace it with a new engine. The method used is Risk-Based Maintenance (RBM) which is used to calculate the value of failure risk due to engine failure and Remaining life assessment used to assess the economic life of the machine, the risk value, and the economic life of the machine are used to determine maintenance policies. Based on the calculation of risk-based maintenance, the failure risk value is Rp. Rp. 440,451,691 or in the form of a percent of 2%. Based on the Remaining Life Assessment method by comparing the economic lives of two options (the use of an old machine and the use of a new machine), a policy should be made to replace the machine with a new one.