This study aims to select optimal maintenance strategy for components of an electric motor of the National Iranian Oil Refining and Distribution Company. In this regard, a method based on revised multi choice goal programming and analytic hierarchy process (AHP) is presented. Since improving the equipment reliability is an important issue, reliability centered maintenance (RCM) strategies are introduced in this paper. Furthermore, on one hand, we know that maintenance cost consists of a considerable percentage of production cost; on the other hand, the risk of equipment failure is a main factor on personnel’s safety. Consequently, the cost and risk factors are selected as important criteria of maintenance strategies.