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asset management

Reliability Improvement and Optimization: Achieving to Manage Depreciation & Wear in Assets

TRC-2018 Learning Zone 38:56
by Pedro Portillo and Gerardo Lara, Goldcorp

Peñasquito Mine, Goldcorp Asset, Ranking First for Gold Extraction in Mexico with 8 years of Operation, Managing 400 assets for Operational Continuity.

Development of a department for management of maintenance and assets.
RELIABILITY- Structure & Monitoring of KPI´S
CONMON: Activities Development
LUBRICATION SYSTEM - Management Activities
ACHIEVEMENTS
FOLLOW-UP DEVELOPMENT
NEXT STEPS

Asset Management

An Objective Driven Approach to Asset Management

TRC-2018 Learning Zone 41:45
by Anthony Honaker, Cohesive Solutions

The international standard on asset management, ISO 55000, describes the benefit of asset management as enabling organizations to realize value from the use of assets in the achievement of their organizational objectives. What constitutes value will depend on these objectives, the nature, and purpose of the organization, and the needs and expectations of its stakeholders. This presentation will discuss performing asset management and realizing value from assets and asset management systems via an objective-driven approach.

Asset Management

The Antidote for “Implementation Failure” in the World of Asset Management

TRC-2018 Learning Zone 37:34
by Nancy Regan, The Force

There’s a lot of focus today (and rightfully so) on developing a “Reliability Culture.” More and more technological advancements promising significant benefits are emerging. But articles written by leading practitioners continue to abound detailing that up to 70% of organizations fail to effectively implement the results of reliability improvement methods. Many reasons for failure are offered. But, if you ask me, there’s one “root cause.” Anyone who has anything to do with Asset Management, at any level of responsibility should know the answer to about a half dozen questions without hesitation. I’m giving you one minute to answer three of them. No pondering. No Googling. Go!

In complex equipment, roughly what percentage of Failure Modes occur randomly?
What governs how often a Condition Based Maintenance task is performed?
Is it possible to manage random failure? If yes, how?

If you couldn’t answer all of these questions without hesitation, don’t feel badly. You’re not alone. The answers were quite literally given to us nearly 50 years ago through a tough lesson learned by the commercial airline industry. But for many, the answers remain buried.And therein lies the “root cause” for chronic implementation failure. I’m convinced that if every team member, from artisans to executives, had this foundational knowledge, implementation efforts would become a whole lot easier and a lot more successful. Why? Because the basic principles of equipment failure and maintenance pervade just about every asset management solution out there. Need better buy-in? More management support? Start with the fundamentals and don’t leave anyone out. When people know better, they do better. This presentation details how implementation of asset management strategies can be vastly improved by establishing a bedrock of fundamental knowledge across a team before any reliability improvement process is ever initiated. And it will provide the steps on how to do it.

Asset Management

Data Without Context Is Dangerous

TRC-2018 Learning Zone 43:48
by Aaron Beazley and Scotty McLean, Bentley Systems

Data without context is dangerous and puts the organization at risk. Yet our assets and data are always changing. Change can be predictable or unexpected, manageable or catastrophic, beneficial or disastrous, significant or inconsequential, inevitable or avoidable. Whether normal wear and tear on components, systems or facilities necessitating maintenance, modifications or replacement; failure of systems, human error or accidents, or proactive changes to benefit the operation; all change needs to tracked and managed so that you can mitigate risk. Learn why the requirement of configuration and change management is essential in today’s complex asset and data environment and what you can do about it today to prepare your organization for significantly increased data management needs. Change management is not an event, it is a process that needs to be supported.

Asset Management

Integration of IoT at Utilities to Achieve Reliable Total Cost of Ownership as Part of ISO 55000

TRC-2018 Learning Zone 33:41
by Laith Alfaqih, Stantec

Total cost of ownership (TCO), also known as TOTEX, is the expected total financial commitment by the organization towards the asset. It considers the full economic consequences of dollars invested to meet a service level at a specified level of risk. Through TOTEX, every part of the assets’ life cycle (planning, design, construction, implementation, commissioning, operation, maintenance, decommissioning, and reuse/recycle) is part of the analysis. Internet of Things (IoT) is becoming an integral part of utilities daily operations and management. It is assisting technicians, engineers, and managers in making reliable and robust decisions about the assets. These assets are providing and exchanging data continuously about their condition and receiving data from other assets to make sure that all of the assets are synched and operating as one unit. Additionally, these assets have internal decision making processes, where majority of the time won’t need any external engagement. IoT has a significant impact on the organization’s assets’ TOTEX. Having the ability to collect, distribute, exchange, receive, process, and decide would reduce the operations and maintenance cost that is related to the asset. The technicians’ activities would become more proactive and geared towards optimizing the system to achieve the highest output. On the other hand it will provide the engineers with diagnostic reports about its operating environment and output, which will assist in the design and selection of assets. Also it will assist in identifying the critical spare parts that are required for that operation environment. This presentation will detail and provide a roadmap and best practices for asset managers to integrate IoT within their system to achieve the lowest TOTEX and highest outcome as part of their ISO 55000 implementation. Objectives

Connectivity between internet of things and total cost of ownership through ISO 55000
Utilize internet of things to develop reliable total cost of ownership
Introduce best practices to integrate internet of things with total cost of ownership

Asset Management

Bentley Systems Announces Winners of Year in Infrastructure 2018 Awards

EXTON, Pa. – October 22, 2018 – Bentley Systems, Incorporated, the leading global provider of comprehensive software solutions for advancing the design, construction, and operations of infrastructure, has announced the winners of the Year in Infrastructure 2018 Awards. The annual awards program honors the extraordinary work of Bentley users advancing design, construction, and operations of infrastructure throughout the world.

Asset Management

Uptake Unveils Artificial Intelligence Enabled Asset Performance Management

Powered by Uptake's purpose-built platform, Uptake APM accelerates digital transformation and delivers outcomes for industrial businesses whether assets are connected or not.

Internet of Things Digitalization (IoT)

How to Implement IIoT Predictive Analytics Solutions Without Hiring Big Data Scientists

Industrial Internet of Things (IIoT) predictive maintenance is firmly on the radar of most executives. At the same time, there are serious concerns about the lack of internal resources to analyze, visualize and interpret the big data generated by industrial machines. This article proposes an alternative: Implementing a big data predictive analytics solution without hiring a big data scientist.

Asset Management

Continuous Predictive Maintenance Is the Way Forward

Over the last few years, the continuous improvement of maintenance strategies is taking place at an incredible pace. The rapid influx of accessible data has the industrial world living in exciting times. As the industry just begins to scratch the surface of what the Industrial Internet of Things (IIoT) can deliver, there is a tremendous opportunity to displace antiquated ways of carrying out asset management.

asset management

Return of Investment In Advanced Asset Management: The 10 to 1 Ratio

Recently, a question was forwarded from Lhoist’s National Maintenance Manager Mauricio Arroyo to Reliabilityweb.com’s Global Relationship Leader and Director of Women in Reliability and Asset Management Maura Abad. The question was prompted after Mauricio read the Asset Condition Monitoring Project Manager’s Guide (Guide) to which Maura had provided a download link. The question was:

“In their [the Guide’s coauthors] experience across the industries, what is the average Cost Avoidance that they have found?”

asset management

IIoT Creates a New Context of Reliability for Transit Asset Management

IMC-2017 Learning Session - 47:57
by John Murphy, Reliabilityweb.com.

This presentation delivers a foundational understanding of how the Industrial Internet of Things creates a new context for reliability and asset performance for transit operations.

Asset Management

Cincinnati MSDGC AM Performance System Delivers Results thru Efficiency, Reliability and Compliance

IMC-2017 Focused Forum - 46:17
by John Shinn and Eric Stevens, Metropolitan Sewer District of Greater Cincinnati

This case study by the Metropolitan Sewer District of Greater Cincinnati’s Wastewater Treatment Division (MSDGC) shows how MSDGC achieved significant Uptime Magazine 2013 and 2014 award winning results through implementing a performance system to manage physical assets efficiently within the operations and maintenance phase of the asset lifecycle. MSDGC’s asset performance system is based on an industry best practice asset management framework called the Uptime elements, shown in the figure below. The Uptime Elements framework provides a reference for best practice assessment, improvement planning and auditing. MSDGC continuously uses the Uptime framework to focus a dynamic leadership culture on improving and sustaining the business systems used to manage resources, asset reliability and lifecycle cost.

The framework includes asset management best-practices and systems, including condition based maintenance, PM Optimization (PMO), risk-based reliability centered maintenance, and advanced planning and scheduling. Continuous improvement of the management system is supported by a rolling 5-year master planning process that documents ongoing and future activities and budgets. Key performance indicators and sub-measures of performance link day to day operations to strategic objectives identified within the framework, shown in the figure below.

Asset Management

Siemens and Bentley partner in new digital solution to optimize capital project delivery

New combined offering leverages Teamcenter and Bentley’s Connected Data Environment to increase plant productivity, accelerate delivery and reduce costs
End-to-end digital innovation strategy creates comprehensive and precise digital twins of the process and physical plant to manage complexity and simulate the performance of smart plants

Asset Management

Asset Configuration Management - Why It Matters

IMC-2017 Focused Forum - 43:22
by Alan Kiraly, Bentley Systems and Jesse Rothkopf, Life Cycle Engineering

As the 2018 deadline to implement Positive Train Control (PTC) nears, the ability to know exactly what and where your assets are, how they have changed over time, what condition and remaining life they have and how they are currently performing becomes an even more fundamental competency for any rail organization. Asset information and configuration management needs to be an essential part of your asset management system.

In addition to preparing for PTC, your public transit organization faces numerous challenges including increased safety targets, stricter regulatory compliance, aging infrastructure, limited financial resources, and the growing amount of data stemming from IOT enabled systems. Understand the roadmap to deploying a fail-safe configuration management system that ensures mandated compliance while giving your organization the additional benefits of information integrity as well as a closed-loop change management process that provides consistency between all aspects of operational information and the requirements related to the asset being described.

Asset Management

Bottom Line: Consumers Prefer Companies That Care

In this fast-paced world of meeting deadlines, quotas and targets, one facet of business that can easily get overlooked is corporate social responsibility. (For reference in this article, the corporate responsibility acronym, Cr, from the Uptime^® Elements will be used.) It’s a corporation’s initiative to take responsibility for the environmental and social well-being of the world. Cr generally applies to efforts that go beyond what may be required by regulators or environmental protection groups.

Asset Management

Why Is ISO27001 Security Standard Certification So Important?

ISO27001 is a quality standards specification for information security management systems (ISMS). The ISMS is an overall framework that encapsulates business procedures and policies pertaining to the control of a company’s information security risk management processes. It covers physical, technical and regulatory controls.

asset management

Reliability Improvement and Optimization: Achieving to Manage Depreciation & Wear in Assets

An Objective Driven Approach to Asset Management

The Antidote for “Implementation Failure” in the World of Asset Management

Data Without Context Is Dangerous

Integration of IoT at Utilities to Achieve Reliable Total Cost of Ownership as Part of ISO 55000

Bentley Systems Announces Winners of Year in Infrastructure 2018 Awards

Uptake Unveils Artificial Intelligence Enabled Asset Performance Management

October - November 2018

Solution enables up-to-date, as-operated digital twins

Siemens and Bentley Systems Announce Integrated Asset Performance Management Solution

How to Implement IIoT Predictive Analytics Solutions Without Hiring Big Data Scientists

Continuous Predictive Maintenance Is the Way Forward

Return of Investment In Advanced Asset Management: The 10 to 1 Ratio

IIoT Creates a New Context of Reliability for Transit Asset Management

Cincinnati MSDGC AM Performance System Delivers Results thru Efficiency, Reliability and Compliance

Siemens and Bentley partner in new digital solution to optimize capital project delivery

August - September 2018

Asset Configuration Management - Why It Matters

Bottom Line: Consumers Prefer Companies That Care

Why Is ISO27001 Security Standard Certification So Important?