Ship maintenance scheduling management integrated with risk evaluation and Life Cycle Cost (LCC) assessment approach is developed in this research. It improves upon existing practices in arranging an optimal maintenance schedule by modeling operational and economical risks. This paper researches maintenance scheduling algorithm with explicitly consider risks associated with some operation problems such as operating schedule, routes, ship position, resources availability, and achievement of reliability-availability-maintainability (RAM) of system. Modeling of components RAM with their failures consequences results risk evaluation. Time value of maintenance cost, replacement cost, earning rate, and penalty cost are also simulated. When the system reaches the lowest level of lower limit reliability, one or more components should be maintained or replaced. Since maintenance task may interrupt the operation, to minimize time-to-maintain all possible events of maintaining other components at the same time will be evaluated together with resources availability. By researching those possibilities, constraining the risk, and based on LCC calculation result, an optimal maintenance scheduling can be then well established.