Articles: Asset Management

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 

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:

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.

Manufacturing and Business Excellence - Part 2

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.

Preview Survey Results from the Eight Critical Elements of Asset Management Survey

OneSteel and Reliabilityweb.com Study Highlights Nine Areas for Improvement

OneSteel and Reliabilityweb.com have been conducting a comparative benchmarking study in 8 Critical areas for effective asset management. Several interesting trends have emerged that indicate some companies will be much better prepared to gain significant competitive business advantage when demand increases.

Reliability Across Division Lines

Navajo Generating Station, NGS, was built in the early 1970's. NGS's primary purpose was to provide power for the Central Arizona Project, CAP. The CAP carries Colorado River water to the metropolitan areas of Phoenix and Tucson. The United States Bureau of Reclamation, Salt River Project (SRP), Los Angeles Division of Water and Power, Arizona Public Service, Nevada Power and Tucson Electric Power are the owners. The Salt River Project is the managing owner.

Software Increases Confidence in Decision Making

Reaching 99.8% Reliability by Amy Davidson

The vast amount of diagnostic information available today about the condition of critical production assets - information that can be of real value to decision makers -- can be confusing and even overwhelming. However, when information from hundreds or even thousands of separate sources is consolidated and organized on a single platform, a more complete picture of the health and operation of critical assets, or an entire process, emerges.

 

Strategic Planning For Asset Management – An Overview

The last great opportunity for enhancing corporate financial performance on a large scale. by James W. Davis, PE, Vice President, Strategic Asset Management Inc., Voice: 610-861-7472 E-mail: jdavis@samicorp.com

Sustained Reliable Operations Summit

Thank you for registering for the Sustained Reliable Operations Virtual Summit sponsored by GPAllied.

The Benefits of PAS55 for the Water, Wastewater and Electric Industries

The Water and Wastewater industries probably have the greatest opportunity of all major utility sectors to add value in this way however, they also face the greatest practical problems and risks in doing so. Developments in Corporate Governance also require best Asset Management practice of this type to be deployed. There are a number of Asset Management Tools and Models available of which PAS55 is a supported and leading example. There are two distinct processes which need to be undertaken. These are: i) Utilities are keen to use such tools as vehicles for discussing objectively their capabilities with key stakeholders such as Regulators and Financial Institutions. PAS55 and the UKWIR Asset Management Planning Assessment Process model are ideally suited for these tasks. ii) Utilities are also keen to inspire and support their staff to develop new Asset Management capabilities which systematically add value for stakeholders by reaching and defining best practice. PAS55 and the UKWIR models can be used for these purposes but there are better tools available at present. Modifications to PAS55 and/or the UKWIR models could make them more suited to these tasks.

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