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Articles: Asset Management

Reliability Performance Institute Call For Papers

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Reliabilityweb.com is seeking presentations from organizations that have made or attempted to make reliability improvements in the past. We value presentations about “what did not work” as much as presentations about “what did work”. No organization has achieved perfection in maintenance reliability; however, many have made great strides and we are looking for those who are willing and able to share those stories so we can all learn.

An Introduction to PAS 55 – Optimal Management of Physical Assets

Asset Management goes well beyond the separate disciplines of engineering and maintenance.  It is a discipline that deals with the entire life cycle of our physical assets and until recently there was no widely accepted guideline or standard on what Asset Management was and was not. PAS 55 is a Publicly Available Specification (PAS) published by the British Standards Institution in 2004 now satisfies that demand. Since publication, PAS 55 has continuously increased in popularity both in the UK and around the world. It is now used as a framework outlining good management practices for many asset intensive industries around the world.

Analyzing and Quantifying Your Company Asset Management Opportunity

A methodical approach to measuring your company's current reliability profile and establishing your "Asset Management Opportunity" in dollars and cents for upper Management by James W. Davis, PE, SAMI 

Applying the Guidelines of BSI PAS 55 to Facility Management

The emergent understanding of asset management across all industry sectors has triggered a subsequent need for a standardised approach. The Institute of Asset Management (IAM) in collaboration with the British Standards Institute (BSI) and other industry groups first developed PAS 55 - Part1: Specification for the optimized management of physical assets in 2004. This was developed in response to industry demand for a standard for asset management and was recently revised in 2008 following international collaboration from industry and asset management associate groups.

Asset Integrity: What to do after an Economic Crisis

Being Prepared

Most companies have reduced cost during these tough economic times in order to survive, shutting down equipment, lay off staff, extending time between rebuilds and preventive maintenance without thinking about the preparation they should be taking in order to take advantage of the economic turnaround. There will be winners and losers once the world economy turns around. Companies who are prepared will win by shutting down their competition, demonstration profits never heard of before. This can be obtained by focusing on "optimizing asset integrity at optimal cost".

 

Asset Management: concepts and practices

PAS-55 - Asset Management: concepts & practices by John Woodhouse, Managing Director, TWPL

BSI-PAS 55 The Benefits for Utilities - A Regulator’s View

Ofgem has a long standing interest in asset risk management, for example surveying practices within the energy network companies in 2002.

Following the publication of BSI PAS 55, Ofgem is now encouraging GB Network Companies to undertake certification to PAS 55 and is monitoring each company's progress towards certification and is expecting that by 2008 companies will be certified and report their certification status to Ofgem on an annual basis.

Ofgem has also participated in the development of the IAM assessment methodology. The presentation will review current status and how PAS 55 implicitly benefits the customer.

Challenges in Asset Management And ways that you can deal with them

by Michael Israel

Disclaimer: In our efforts to make readers aware of technology innovations, this Reliabilityweb.com article make extensive mention of a specfic product.  This should not be taken to imply endorsement.  The product names were used to support the informational delivery of an innovation for the maintenance and reliability community.  - Editor   

Asset Management: An Explanation

What is asset management?

There are varied points of view, no doubt. So let's get a generally acceptable perspective from two reliable sources:

Design Management: Reliability at the Start

abacunas_3 for installations and modifications to plant systems and equipment should go beyond engineering calculations, bids and drawings. While the engineering is important, items related to reliability and maintainability are sometimes treated as afterthoughts. To reduce the chance of premature failure and frustration and reduce the unexpected, a Design Management Program should be implemented and enforced. The Design Management Program should place an emphasis on reliability and maintainability with participation from all levels of the plant including engineering, maintenance, operations, safety, and purchasing. The program should also establish the review process with an incremental methodology. All design projects, whether capital or non-capital require the same methodology for inputs and review. Of course the larger the project the longer the process so enough planning time should be allowed, often a year or more in advance of the actual installation start date.

Developing an Asset Management Strategy

Most large plants have $100's of millions in investments. They were all built with an objective to provide earnings superior to risk-free government bonds. While there are many factors which influence profitability, maximizing output potential is often the single greatest opportunity, especially for low-margin, commodity-type businesses. A typical measure of success of asset deployment is Return on Assets (ROA).

Expectations and Requirements Operations and Maintenance Alignment

I expect equipment to run! Well I expect to get to work on it!

Failure Modes Effects Analysis - Taking The Final Workflow Step

WHY GO THE EXTRA STEP?

When you implement "best practices" or upgrade to a new version of your Maintenance Management System (CMMS or EAM), you look at your maintenance and/or supply work flow process to understand how work gets requested, done and documented. Once you have done your "due diligence" and created process flow design diagrams down to what I call a level 5, you may think you are ready to write procedures. Are you truly ready?

Is There Too Much Capacity

It is currently October 2009 and evidence is mounting that the world's economies are slowly emerging from the bottom of the Great Recession. Despite that good news; Gross Domestic Product is far below its level of 2007. The important strategic questions for business people are:

• "What is likely to happen in the coming years?"
• "Should I change my thinking about reliability and process improvement?
• "How can I best position myself and my organization for the likely scenarios?"

What is Likely to Happen?

Leveraging PAS 55 Within National Grid

National Grid's journey with implementing PAS 55 Development of a cross business asset management initiative Using PAS 55 to develop a common language across different geographies and networks Using the platform created by PAS 55 to share business practices and develop common ways of working Sharing asset management practices with businesses outside National Grid using PAS 55.

Manufacturing and Business Excellence - Part 1

The Scene

Kaohsiung Industries, an international manufacturing company, has recently made substantial inroads into US and European markets, shaking the confidence of investors in competing US and European manufacturers. Around the globe, manufacturers like Kaohsiung are capitalizing on lower trade barriers, a growing global economy, and substantial growth in the Asia-Pacific economies, challenging other manufacturers' long-standing position in their traditional markets.

Beta International, a large manufacturing conglomerate, is under intense pressure from domestic competitors with newer technologies, from foreign competitors with cheaper products, and from within- there's so much politicking that much of the work that's done by many individuals is related to positioning for survival in a streamlined organization. They have just named a new CEO, Bob Neurath, who is determined to get the company back on track and reestablish itself as the leader in its markets, especially its chemicals sector.

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