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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

Strategy — Maintenance, Capital and Risk

This paper presents various methodologies and issues associated with a total asset management process that embraces the use of capital and maintenance expenditure to ensure assets meet the full spectrum of operational requirements, including safety, performance and return on investment. The broad range of issues associated with implementing asset management mean that the work must be conducted within a cohesive framework, even though different elements may have little in common with each other. Pervading the entire process is a risk management process that is a function of the condition of the asset base and the responsiveness to identified needs.

 

strategy_-_maintenance_capital_and_risk.pdf

Strategic Asset Management

This paper presents various methodologies and issues associated with a total asset management process that embraces the use of capital and maintenance expenditure to ensure assets meet the full spectrum of operational requirements, including safety, performance and return on investment. Pervading the entire process is a risk management process that is a function of the condition of the asset base and the responsiveness to identified needs. The tangibles of the asset management plan are physical documents and systems that make up the individual elements within the framework. In this case, they are the outward signs of a business process, which is comprised of many business rules. A mixture of Oracle, intranet and Office-based documents will be described, including how these are interleaved.

Output from the asset management plan described in the paper includes distribution of costs across systems and areas, efficiency of the expenditure (including reactive versus proactive maintenance plus anecdotal notes on known problems), and effectiveness of the expenditure – management of the reliability and capability of the systems, where capability represents ability of an asset to provide its intended function with expected levels of flexibility, efficiency and quality. In conclusion this work has achieved interpretation of the broad overall business targets in terms of operational requirements for specific assets and groups of assets, planning ahead to check likelihood of asset capability being able to meet operational requirements, and gap analysis between operational requirements and operational performance.

 

strategic_asset_management.pdf