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asset management

Does Relying on Criticality Put Your Organization at Risk? Part 1

This article is Part 1 of a series focusing on risk as an enabler for asset management.

It argues the case for moving away from criticality to an ISO31000 risk-based approach. Part 2 will address how to effectively model asset risk in complex systems.

Asset Management

Are We Actually Realizing Value from Our Asset Management Program?

IMC-2017 Learning Session - 42:44
by Dharmen Dhaliah, Town of Halton Hills

Realizing value is the main focus of asset intensive organizations. Organizations design, build, own, operate and maintain physical assets to derive tangible or intangible, financial or non-financial value from them over their entire life cycle. Eventually it is befitting to spend some time understanding what value is and how it can be realized. As a matter of fact ISO 55000 makes reference to 'value' and 'realize value' in its definitions of asset and asset management respectively. Realization of value requires the achievement of a balance of costs, risks and benefits, often over different timescales. So what does value derived from physical assets means to your organizations? Is it value to customers, value to stakeholders, or value physical assets contribute to achieve organizational objectives? How are these values quantified, measured and tracked to support the overall system? Do you have a process in place to actually identify and visualize the activities contributing to the realization of value from your physical assets? This session will describe the asset management value chain in organizations and explore the existing roadblocks and constraints that are stopping organizations to realize maximum value from their asset management program.

Reliability Engineering for Maintenance

How To Achieve An Uptime Elements Black Belt

Do or do not – there is no try ~ Yoda

Are you one of those people who will not start a project until planning is close to perfect?

The Uptime Elements Black Belt program is designed

...

Asset Management

Transit Asset Management Forum IMC-2017

December saw another successful International Maintenance Conference (IMC), with over 1,100 participants from 41 countries. Part of the conference included the Transit Asset Management (TAM) forum, held the first day of the conference. Presented in association with the Rail Reliability and Asset Management Roundtable, the TAM forum was designed as an opportunity for agencies to share simple and practical approaches that they can put to work immediately using asset management (AM) and Industrial Internet of Things solutions (IIoT). The forum was well attended and presenters shared some highly interesting progress stories with attendees.

Asset Management

Maintenance Strategies: Is There a Simple Solution?

No doubt you have heard these terms, read articles and attended workshops and seminars to learn about these strategies. Using this information, you’ve discovered which ones will make your maintenance program more effective, reduce labor hours, reduce costs, increase equipment availability and ultimately improve production.

Based on experience gained from being around maintenance shops for many years, visiting with people in a variety of industries and talking with maintenance professionals around the globe, the conclusion formed is: There is a right time and a right place for each of these strategies.

Asset Management

Emerson’s Plantweb Digital Ecosystem Expands to Improve Enterprise-Wide Visibility into Plant Health

Plantweb Optics helps companies visualize and take action on their most important plant assets with mobile-ready collaboration software that transforms business processes

Asset Management

Profitable Reliability Control for Improved Asset Performance

IMC-2017 RAP Talk - 19:07
by Peter Martin, Schneider Electric Process Automation

As the science behind process control advanced over the past 4 decades, the equipment assets in industrial plants were pushed to, and at times beyond, reliability threshold limits. This led to the need for new and more advanced approaches to asset management. As a result, the science behind asset management has advanced significantly over the last 15 years. New approaches to equipment condition monitoring, predictive maintenance and prescriptive maintenance have proven their worth in terms of improved equipment reliability.

The rise of the Industrial Internet of Things (IIoT) is providing new opportunities to consider improving asset performance. With the reduced, cost, size, and power requirements, coupled with increased capability, capacity and interconnectivity of computer technology, new, highly agile automation system architectures are emerging which align tightly with the asset architectures of industrial plants and enterprises. This means that powerful computers in the form of cyber-physical systems can be aligned to individual industrial assets providing incredible compute power for each asset. Additionally, the expansion of control functionality from process and logic control for improved operational efficiency, to include the real-time control of reliability risk and operational profitability to provide the basic components of Asset Performance Control.

This IIoT-enabled, expanded control domain will operate under Asset Performance Management to provide new levels of measurable operational profitability from equipment assets all the way through entire industrial enterprises.

Asset Management

Jacobs-NASA Langley Work Honored as 2017’s Best Reliability Program

Jacobs Engineering Group Inc. (NYSE:JEC) announced that its work with NASA Langley Research Center has been chosen by ReliabilityWeb® to receive the 2017 Best Reliability Program of the Year Award by UPTIME Magazine.

Asset Management

Managing “Dock to Decom” in a Hyperscale Data Center Environment

The hyperscale data center segment is growing as the never-ending onslaught of data continues to require new and more agile transport systems. This need is creating a unique challenge for teams tasked with the management of assets and their lifecycles in these dynamic and sometimes dispersed hyperscale data center environments.

Asset Management

Why Big Data and the Digital Transformation Won’t Deliver Reliability

IMC-2017 RAP Talk - 23:44
by Jason Apps, ARMS Reliability

Bad data or poor-quality data costs organizations as much as 10-20% of their revenue. The premise of this RAP Talk from IMC-2017 is that you can have too much data. And too much data doesn’t deliver anything by itself! The focus at the moment is on asset health and performance monitoring. Let’s get back to basics.

Asset Management

Edge, Cloud and Reliability

IMC-2017 RAP Talk - 21:16
by Jagannath Rao, Siemens

In the manufacturing world, one of the most not talked about phenomena is called the "The Hidden Factory." This can be broadly described as work arounds and other activities which result in poor efficiency, waste and reduction in quality. These phenomena go unnoticed most of the time as the data sources are either too disparate or transparency is lacking due to the inability to address the problem. The reason for the existence of a hidden factory is often multifold and can be categorized into three buckets - a) Reliability issue, both in the process and the machinery, b) Inadequate data transparency to get to the root causes and address them and c) supply chain & logistics bottlenecks.

In this modern age of digital transformation, not only is it possible to address these issues, but in fact a steep change in the manufacturing arena can be made. This demands the adoption of technologies like contextualized data integration, machine learning & analytics and IIoT. This talk is about how Edge Computing, IIoT and adoption of scalable cloud technologies can address and minimize the phenomena of the "Hidden Factory."

asset management

Nlyte Introduces Asset Integrity Monitoring and Resiliency Management

Does Relying on Criticality Put Your Organization at Risk? Part 1

April - May 2018

Are We Actually Realizing Value from Our Asset Management Program?

DuPont Sustainable Solutions: 50 Years of Creating Safer, More Resilient Workplaces & Communities

Uptime® Magazine Announces Solution Awards Winners for 2018!

How To Achieve An Uptime Elements Black Belt

Transit Asset Management Forum IMC-2017

Bentley Systems’ Year in Infrastructure 2018 Conference and Awards Gala to be Held in London

ABB launches industry-leading digital solutions offering, ABB Ability™

Maintenance Strategies: Is There a Simple Solution?

Bentley Systems Issues Call for Submissions to the Year in Infrastructure 2018 Awards for

Emerson’s Plantweb Digital Ecosystem Expands to Improve Enterprise-Wide Visibility into Plant Health

Cohesive Solutions Inc. Announces New Propel™ Integration with IBM Maximo

Profitable Reliability Control for Improved Asset Performance

Jacobs-NASA Langley Work Honored as 2017’s Best Reliability Program

Managing “Dock to Decom” in a Hyperscale Data Center Environment

Why Big Data and the Digital Transformation Won’t Deliver Reliability

Edge, Cloud and Reliability

February - March 2018