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Articles: Asset Management

Tried and tested techniques for risk mitigation!

By: Daryl Mather, Author of The Maintenance Scorecard

 

I think we are all of the same view that risk management is one of the growing areas of importance within the asset management arena. You see it creeping into every discussion, every solution discussed, and it is becoming one of the buzzwords of our time when dealing with how to extract greater economic value from the maintenance or asset management processes. So far so good!

What is Risk Management?

By: R. Keith Mobley

Risk management is simply the identification, assessment, and prioritization of risks, followed by a coordinated and economical application of resources to minimize or control the probability of occurrence and the impact of negative events, as well as to maximize the realization of opportunities. What is considered a risk? Risks can come from uncertainty in financial markets, project failures, legal actions, regulatory liabilities, accidents, and natural disasters, as well as simple human error.

Why Your Preventive Maintenance Program Isn’t Working

Ricky Smith, CMRP

Does it annoy you that in spite of regularly performing Preventive Maintenance (PM) on your equipment it continues to breakdown? Some may call this insanity-continuing to do the same thing over and over, expecting a different result. If you sat down and graphed out your company's PM labor hours versus emergency labor hours what would you find?

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