Below article is about 5-step approach that could help engineers to implement energy savings measures successfully. Defective steam traps replacement is part of short terms measures that is viewed to have the best cost-benefit ratio and fewer complications :
http://www.chemicalprocessing.com/articles/2012/implement-energy-efficiency-measures-part-i/
Step 1: Classify the identified energy saving measures into short-, medium- and-long-term measures. Typical short-term measures include:• Those that could be achieved with the existing capabilities, such as adjusting the excess air levels in boilers and furnaces, and lowering the air compressor discharge pressure where applicable. • Measures with a simple payback period of less than one year, such as replacing defective steam traps, adding insulation to hot-surfaces, etc. • Ones that arise from maintenance and housekeeping lapses, such as draining condensate due to pump failures, backpressure and water hammer issues.Explore more on how to monitor steam traps automatically from the control room :
http://www2.emersonprocess.com/en-us/brands/rosemount/wireless/708-acoustic/Pages/index.aspx