REGISTER NOW! August 1, 2022. FREE 1–Hour Virtual Uptime Elements Introduction

TRC-2019 Learning Session 34:01 minutes

by John Ganaway, Jacobs Engineering Group

Asset management has introduced a few key concepts which require a shift from focusing on initial investment to optimizing total cost of ownership (TCO). This is rooted in a risk-based and science-based approach to understanding the requirements of the assets throughout the useful life. The risk-based approach drives prioritization and optimization; whereas, the science-based approach honors the subject matter experts (SMEs) experience as well as seeking meaningful data to drive decisions. Shifting from a mindset of initial cost, scope and schedule to a focus on TCO requires a catalyst for change. Design for reliability (DfR) answers this call. Recognizing that DfR involves self-discovery and the vulnerability to admit, "We don't know what we don't know," is the only way to break down the silos that hide a wealth of perspective, expertise and experience which can translate into value for those willing to explore. Engaging stakeholders to incorporate their expertise, ownership and perspectives, early in the concept and design phases, provides the opportunity to define and achieve operational readiness (OR), reduce the leakage from CapEx to OpEx, optimize TCO, engage the ownership and expertise of the workforce, and realize the desired performance. 

This presentation includes real DfR examples and results from OEM partnerships, component redesigns, and innovative relationships. The integration of DfR into the early phases of the capital engineering process, by including key stakeholders during front-end planning (FEP) and front-end loading (FEL) fuels the ownership and enthusiasm for capital projects. Learn how to involve and celebrate stakeholders in these early phases to differentiate the value of your capital projects.

80% of newsletter subscribers report finding something used to improve their jobs on a regular basis.
Subscribers get exclusive content. Just released...MRO Best Practices Special Report - a $399 value!
Designing, Building, and Rebuilding Your ACM

Designing, Building, and Rebuilding Your ACM

Working under the authorization, commissioning, and funding from your committed executive sponsor can yield advancements not available without it

Upcoming Events

View all Events