Please use your business email address if applicable

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.

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

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

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

Does Your EAM System Ensure Work Safety?

Most enterprise asset management (EAM) systems just touch upon the safety aspect by registering hazards involved or precautions to be taken while working in a risky environment. But, how do they enforce work safety? There are still so many accidents and incidents in the industry and all investigation findings point to missing safety measures, ignorance, or bypassing safety rules or procedures. What can be done to ensure a safe work environment for everyone? How can a company enforce control of work? One single accident is enough to do away with all financial benefits received through optimized asset management or predictive maintenance to increase asset availability. Asset availability is important, but not at the cost of safety!

Asset Management

Why Maintenance Cost to Asset Value Ratio Is Not a Good Benchmark

A commonly used benchmark for maintenance activities is the ratio of maintenance cost to asset value (MC/AV). Some medical equipment maintenance professionals also claim MC/AV to be the best or most reliable benchmark. Maintenance cost includes both scheduled (often erroneously called preventive maintenance) and nonscheduled (i.e., repairs) maintenance costs, whereas asset value has various interpretations. This article challenges the validity of MC/AV as a benchmark or even a key performance indicator for maintenance activities in most, if not all, industries.

asset management

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?

The Next Industrial Revolution: Transformational IoT

Does Your EAM System Ensure Work Safety?

Why Maintenance Cost to Asset Value Ratio Is Not a Good Benchmark

Q&A with Industry Leader Dr. Carla Boehl