Asset ManagementBusiness ProcessesAsset ManagementPlansStrategicInitiativesAnnual BudgetsOperating BudgetCapital Budgets
Improving Reliability by Setting Maintenance KRAs
or KeyPerformance Indicators (KPIs) and Measuring Outcomes MeaningfulMaintenance and Reliability Performance Measures
Adopting a Profit Centered Maintenance – A Challenge to AssetManager
By Focusing on the Return on Net Assets (RONA) or Return on Fixed Assets(ROFA) by Moving from Reactive… to Proactive… to Risk Reduction. EachProcess is Part of a Series of Processes -The Process Chain thatBinds Us with our AssetThus Maximizing Life Cycle Profit Maintenance for achievingBusiness Objectives and Optimizing Stake Holders returnsWhile Designing a Plant, it is actually Designing a Business, where Operating Costs areCommitted. The Design Process limits Reliability Design and Operating Cost are to be totallyoptimized for Risk considering the Life Cycle Implications, Life Cycle Risk Management Strategy.Why we Need Defect Elimination and Failure Prevention Problems Waste Time, Money andResources, Identify Defect and Failure True Costs
Electronics & Instrumentation – A Boon & A Challenge
The Instrumentation has made the Life of Asset Manager easier for various Diagnostics. Manualtests are prone to human error, and if tests and inspections are not linked directly into theComputerized Maintenance Management System, then it is difficult to track any missed orinaccurate manual measurements. The end result is that manually recorded results can very easilygo out of date and eventually you may be relying on old data to interpret the condition of an asset.Today's information technologies and processes have improved asset management strategies,advantages and implementation challenges of
perations software(MRO). Not all assets are created equal. Plant Manager needs to prioritize by deciding whichassets contribute most to the operation. Some may run to failure, but others can differ in strategy.Predictive strategies and analytics might be applied to the most valuable assets to create more leadtime and flexibility.Sensors can communicate system needs into MRO, a portfolio of assets, providing a solution setfor enterprise, plant equipment, software, fleets of assets and all conditions above.Next generation MRO tools can help Asset Managers:
Do more with less, extend the life of current assets, maintain product quality, manage waste(labor raw materials and energy), and grow the business.
Overcome operational hurdles, such as globalization over multiple sites, cultural changes,scheduling pressures, and the need to transform data into information.
Better manage risk, related to regulations, health, and safety issues.
Address technological challenges, such as short and long term data flow, removing silo walls,and justifying focus on MRO tools, to create the most throughputs at the lowest cost.
IT organization is partnering in MRO efforts as a team member
, in part to help"green" become a revenue opportunity. The Asset Manager is required to understand the IT asmuch as a Soft ware Engineer to optimize its results.Wireless technology is a mostly untapped resource in the industry that can have a significantimpact on the way business is done offering a greater degree of connectivity among devices forenhanced monitoring and asset utilization leading to the development of new applications thatimprove productivity, uptime, and overall business performance.Industrial automation is one segment of the global economy that, to date, has failed to take fulladvantage of wireless technology. Major industries such as Rubber, Oil and Gas, Chemical, Power,Steel, and water and wastewater treatment continue to operate their plants mostly with older, hard-wired control systems.