Entries by Bob Platfoot

Generating Business Value Through an Optimised Asset Management Methodology

How does an entity get a clear view as to where they sit in terms of maturity to the ISO 55001 Asset  Management Standard?

There is an underlying vulnerability for entities not understanding two key elements associated with Asset Management:

Have I allocated and forecast sufficient funds to?
maintain my assets at optimal working efficiency;
address asset health risk; and
deliver asset capability to meet customer demand and business objectives?
Have I in place the appropriate asset management governance, processes, systems and people capability to consistently and sustainably deliver my business objectives and provide maximum value through effective and efficient management of my assets?
The first step in addressing these questions if your answer is “I don’t know”, is to have an Asset Management Maturity review carried out. This maps your current asset management maturity against the ISO 55001 standard and develops an improvement plan and roadmap to address any gaps, risks and opportunities for improvement to move closer to best practice using the ISO 55001 Standard framework

Productivity Growth in the Age of Digitalisation

Digitalisation of data and the correlation of such data from multiple sources has little value unless that data can be interpreted.
In the field of Engineering, Facility and Asset Management we are entering an exciting time. The utilisation of data now available is seen by many as providing the next big “Productivity Gain” opportunity as a result of its ability to impact operating costs.
With reduced operating costs, comes the opportunity to improve a company’s competitive position in market . So, what are the blockers being experienced in taking the next step on this journey. Why are companies hesitant to invest resources and funding in order to move to the next level where this data can be translated into business benefits.

Case work by Covaris Engineering in this field has found three main reasons:
• An inability to interpret the data.
• An inability to develop a business case and ROI to validate the projects capital start up investment.
• A failure at board level to change not only their behavior but also the company culture to recognise a break fix reactionary culture has inherit cost and brand implications as compared to a structured long-term maintenance scheduling approach. The latter utilises engineering principles supported by predictive analytics now available through the use of digitalised data and algorithms.

Covaris has been assisting Enterprise and Government customers to understand the “step logic” that must be followed to address these points for many years. If these challenges exist within your environment you may be interested in some of the attached case study findings.

Realizing Commercial Value From ISO55001 Aligned Asset Management

This article demonstrates the commercial value for an organization improving its entire enterprise asset management approach in line with the ISO55001 standard… Commercial value is realized by the removal of waste in asset management delivery so that the investment is prioritized in accordance with measured business outcomes

Maintenance Systems Formation

The major topics dealt with in this paper include identification of items to be maintained under a preventative maintenance schedule (PM) in a facility and the assessment of the criticality of each of the nominated items of plant. Based on the asset listing a preventative maintenance schedule and inspection plan, covering simple inspection, trade level […]