The concept of Asset Management (AM) has been around for many years, albeit under different names as the processes evolved. Early concepts were developed from a need to more pro-actively drive the maintenance function. This was a natural progression from the state of mind where “when it breaks we fix it” to a more cost driven state where whole of life costs are considered and subsequent maintenance strategies developed to minimise these costs.
Techniques evolved such as Predictive Maintenance (PdM), Reliability Engineering tools – Reliability Availability Maintainability (RAM) modelling, Reliability Centred Maintenance (RCM), Failure Mode Analysis (FMA), Root Cause Analysis (RCA), Operational Readiness and so on. These of course opened up demand for computer applications to manage the data and plan the maintenance function.
Asset management is now at a point where the British Standards Institute’s PAS55 and the soon to be released international standard ISO 55000 provide companies with a globally recognised framework for implementing and maintaining an AM System.
The drive for maintenance excellence has also come from regulation. While it could be argued we are over-regulated in this country, all manufacturers must operate within this legislative framework of environmental controls, safety laws, industrial relations, project approval processes and corporate governance. Given that these controls must add to manufacturing costs, the benefits of an AM System will offset many of these by more efficiently managing the costs of an asset across the whole of its life. Similarly, a Quality Management System and Safety Management System should lower costs associated with defective product and injuries to workers.
This approach is more relevant in the 21st century than ever before, particularly in developed countries like Australia where manufacturing is going through a slow decline. Product quality and manufacturing costs are paramount to being globally competitive and maintenance costs are a significant component in the overall cost of a manufacturing operation.
The AM System and external regulatory controls bring with them a demand for high quality documentation. Many AM systems are audited (like Quality and Safety systems) requiring detailed audit reports that identify areas for improvement.
Asset Management policies and procedures, equipment maintenance strategies, failure investigation reports, new equipment justification reports, operations and maintenance manuals and training materials are a few examples.
Our experience in the Asset Management space and its professional approach to document preparation can provide valuable support to an AM System in the 21st century.
Contact us today, to discuss your asset management requirements.
Service offerings provided by our specialist Smart Asset Management (SMA) delivery team: