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asset management

The Business of Asset Management

This is the first of a two-part article focusing on the current attempt to produce an updated ISO standard for asset management. This article will focus on the business reasons for asset management and the first two phases of an asset lifecycle.

Asset Management

Avoiding Data Overload in Managing Asset Health

A 40 minute long presentation by Kathy Steel, Ivara Corporation

How much time do you spend collecting equipment condition data, maintaining spreadsheets and developing reports? Still, it often ends up being a little too late to prevent equipment failure. Learn how Ivara EXP Asset Performance Management software provides better visibility to overall asset health. EXP processes condition data from all sources to provide a holistic view of the health of your assets so you can anticipate the onset of failures and make timely and informed proactive maintenance decisions to mitigate risk and the consequences of failure.

Asset Management

Part 1 of a 2-Part Series on PAS-55 4.4.7 Risk Management

An hour long presentation by Mike Schultz, The Asset Performance Group (APG)

In the PAS-55 framework for optimal asset management, Clause 4.4.7.1 specifies that an organization shall have processes in place for the ongoing identification and assessment of asset-related and asset management related risks, as well as the identification and implementation of control measures over the lifecycle of same assets. There are several good options for evaluating risks and financial impacts to asset performance, such as HAZOP, RCM, RiskAoA, and so on – PAS-55 specifies only that we meet its requirements to be compliant.

Asset Management

integrated Asset Performance Management and Asset Investment Planning Solution

July 21, 2011—Ivara Corporation and CopperLeaf Technologies Inc. today announced a partnership to deliver an exclusive solution for the Electric Power industry. Ivara and CopperLeaf are recognized leaders in Asset Performance Management (APM) and Asset Investment Planning and Management (AIPM) software and methodologies respectively.

Asset Management

APICS Releases Third Edition of Essential APICS Operations Management Body of Knowledge Framework

Chicago, Ill.-APICS The Association for Operations Management, the global leader in supply chain and operations management education, certification, and affiliation, today released the third edition of the trusted and influential APICS Operations Management Body of Knowledge (OMBOK) Framework, which defines the scope of the field of operations and supply chain management and provides a dynamic resource for understanding the APICS body of knowledge.

Asset Management

The Connection Between Equipment Risk and Equipment Reliability and Its Affect

You can create outstanding equipment reliability, deliver high production uptime, and guarantee lower operational costs by removing the risk of failure from your machines and equipment. The more risks production plants and equipment are exposed to, the more certain it is you will get low plant reliability and high maintenance costs.

Asset Management

Building Value with Asset Performance Management Work Processes

An hour long presentation by Chris DeFalco, Director of Product Management, Meridium

Gaining a competitive edge with Asset Performance Management (APM) requires the effective application of process, people and technology. This approach needs to be supported by well-designed processes that identify how to perform work, committed people who know how to apply them, and powerful, enabling technology to simplify the task.

Asset Management

5 Critical Success Factors for Effective BOMs

Presentedy by: Doug Wallace

If your company was manufacturing automobiles, appliances, iPads, or even cardboard boxes, you certainly wouldn't think about scheduling production without a complete and accurate Bill of Materials (BOM) for each finished product so you could determine your raw material requirements from a master schedule. So why is it that many process industries not only begin operation without equipment BOMs, but go for years, sometimes decades, without them?

When we ask people to assess the quality of their equipment BOMs, the comments we get most often are either, "they don't exist," or, "we have some of the data, but we don't know if it's accurate." When we ask why that's the case, the response is usually, "we don't have the information," or more likely, "we don't have the resources to do all that work."

Asset Management

EDF Energy selects Emerson’s AMS Suite to support maintenance strategies at UK power plant

AUSTIN, TEXAS - EDF Energy has selected Emerson Process Management’s AMS Suite predictive maintenance software to help optimize maintenance practices at its new Combined Cycle Gas Turbine (CCGT) power station at West Burton in the United Kingdom. AMS Suite will help the plant’s managers quickly access integrated asset health information from multiple data sources, view real-time analyses and reports, and develop management strategies to improve plant performance.

Asset Management

Framework for Asset Management Body of Knowledge

The Asset Management Council has released a technical publication titled ‘Framework for Asset Management Body of Knowledge’ to provide a common asset management language for better communication within organisations and across industries.

The publication discusses key asset management elements including demand management, systems engineering, configuration management, acquisition, operations and maintenance, continuous improvement, business management, and culture and leadership.

Asset Management

Monitoring how your assets use energy: See what you’ve been missing

A 45 minute presentation by TJ Perreault, Director of EAM, Infor

Companies with plants, facilities, and equipment are facing a daunting reality: The energy consumed by their key operating assets is eroding profit margins.

Asset Management

Lloyd’s Register issues asset management certification to London Underground

London Underground (LU) has been certified against BSI PAS 55, the international asset-management standard, following a rigorous independent assessment by Lloyd’s Register.

The certification is recognition that LU has met the requirements set out in the British Standards Institute’s PAS 55 specification, the recognised cross-industry framework of best-practice systems for asset management.

Asset Management

Planning Paramount for Imminent Asset Management Industry Standards

The Global Forum on Maintenance and Asset Management (GFMAM) recently came together on the Gold Coast Australia to progress the global projects being developed by the GFMAM and to discuss the international standard for Asset Management.

Asset Management

ArcelorMittal Tubular Products Increases Asset Availability

Sponsor Case Study: ArcelorMittal Tubular Products Increases Asset Availability with Ivara EXP Enterprise Asset Performance Management Software

ArcelorMittal Tubular Products is one of the largest most diversified mechanical tube manufacturers in the world, with 21 plants operating in 11 countries with a capacity of more than 3 million MT annually. The company's product portfolio spans the entire range of steel tube products - seamless, DOM & ERW.

Asset Management

Panasonic Toughbook Addresses Market Void by Delivering Enterprise-Grade Android Tablet

Secaucus, NJ, - Panasonic Solutions Company, provider of collaboration, information-sharing and decision-support solutions for government and commercial enterprises, today announced its plans to deliver an enterprise-grade Android^TM tablet to the market in the fourth quarter of this year. The new Toughbook® tablet will address a current gap by delivering a product designed with security, functionality and real-world reliability in mind. By delivering this purpose-built business solution, the new Toughbook tablet will appeal to a wide variety of users, including mission critical government personnel, highly mobile field forces, SMB’s looking for a competitive edge, security conscious IT managers and bottom-line focused CFOs.

Asset Management

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.

Asset Management

Will ISO 55000 solve SA’s service delivery issues?

Johannesburg, South Africa - “The current state of our physical infrastructure assets has a direct effect on service delivery to the nation,” says Alan Tait, Managing Director of Pragma Africa.

It therefore remains to be said that one of the root causes of South Africa’s current service delivery issues is the state of its assets. We have all experienced potholes, power outages and water contamination, all of which are affected by the maintenance strategies and standards employed by our metros and municipalities. There are many other factors that affect service delivery; however, the focus of this article will be to look at the effect of proper asset management practices.

Asset Management

Production Loss Accounting

An hour long presentation by Shannon Brown - Product Manager, Meridium

Measuring production capacity in a standardized way allows plant owners and operators to decrease production losses, eliminate unclassified losses, take action to improve production, and compare production data across the enterprise.

asset management

The Business of Asset Management

ISO publishes Six Sigma performance-improvement methodology

Avoiding Data Overload in Managing Asset Health

Part 1 of a 2-Part Series on PAS-55 4.4.7 Risk Management

integrated Asset Performance Management and Asset Investment Planning Solution

APICS Releases Third Edition of Essential APICS Operations Management Body of Knowledge Framework

Q&A - Rhys Davies, Chairman of the ISO PC251

The Connection Between Equipment Risk and Equipment Reliability and Its Affect

Building Value with Asset Performance Management Work Processes

5 Critical Success Factors for Effective BOMs

EDF Energy selects Emerson’s AMS Suite to support maintenance strategies at UK power plant

Framework for Asset Management Body of Knowledge

Monitoring how your assets use energy: See what you’ve been missing

Lloyd’s Register issues asset management certification to London Underground

Planning Paramount for Imminent Asset Management Industry Standards

ArcelorMittal Tubular Products Increases Asset Availability

Panasonic Toughbook Addresses Market Void by Delivering Enterprise-Grade Android Tablet

What is Risk Management?

Will ISO 55000 solve SA’s service delivery issues?

Production Loss Accounting