Driving asset value and performance

Have you ever been asked to justify the benefits of risk management?

Let us help you identify, assess and control threats to your organisations assets.

Every organization faces the risk of unexpected events that can cost the company money or cause it to permanently close. With a comprehensive risk management plan, potential risks can be mitigated and minimized. If you are challenged to justify the benefits of risk management, consider these benefits.

  • Increase asset life and serviceability. Generate a better understanding of high-cost areas in asset management such as maintenance, refurbishment which leads to efficient cost control.
  • Your organization could enhance revenue due to a higher production rate. Cost reduction through “smart” expenditure.
  • Improve forecasting accuracy for future cash flows and associated risk mitigation. Understand the effect on related portfolio return and portfolio risk.
  • Reduce downtime. Extend asset life and reduce fixed asset replacement investment cost.
  • Examine whole life analysis (promoting long-term business objectives over short-term issues) to ensure sustainability, long-term returns, steady growth, progressive improvement without surprises.
  • Optimize the balance of spend and benefit (considering maintenance enhancements, renewal timings, cross functional factors) to ensure all assets relating to the delivery of service are considered.
  • Discover enhancement opportunities during the conceptual and design phase rather than later in the life where the cost of change is much higher.
  • Assist in developing inspection strategies, reporting and monitoring practices to achieve high technical integrity.
  • Increase compliance (e.g. Regulatory requirements, PAS55, Company Policies/Procedures).
  • Manage risk occurrence/incident trends/metrics (asset condition, performance, cost base, retained risk, revenue generation, failures).
  • Improve response to asset failure (ability to restore service through risk-based contingency/fallbacks) ensuring business continuity.
  • Extend your asset’s operational, maintenance and inspection capabilities.
  • Understand how key issues impact asset’s revenue, cost and risk management and recognize areas of exceptional and poor performance.
  • Identify opportunities for improvement through a combination of protocols and hypothesis generation.
  • Develop the basis for performance improvement strategies.
  • Determine how risk management strategies might improve today’s performance level to future expected levels.
  • Assess the impact of risk on safety and asset integrity. Asset vulnerability (increased visibility of risk associated with asset condition and intrinsic design). Better understand asset contribution to business performance.
  • Improve visibility of effective governance (increased confidence, improved likelihood of securing funding from government and the markets, increased customer patronage, lower corporate insurance premiums).
  • Make strategic decisions using an appropriate level of detail relating to performance, condition of assets, costs, serviceability to determine where investment will add the greatest value, prior to any significant investment taking place.
  • Assess the viability and lifecycle profitability before any significant investment has been made (evaluating a proposed investment by considering changes in the company’s cash flow can aid the decision as to whether or not an investment in an asset adds value over time).
  • Better evaluate the viability of opportunities before any significant investment is made (considering the large outlay of capital for new assets, typically offset by high future revenue streams).
  • Better understand the risks associated with change (risks of maintaining the status quo, risks associated with change, residual risks following change).
  • Manage the implications of unplanned events so they can be incorporated into business decision analyses that seek to evaluate the viability of alternative operational strategies.
  • Earn a higher return on capital employed (ROCE) whilst simultaneously maintaining safety and environmental standards.
  • Develop and implement practical, well-structured, risk-based, forward-looking approaches to maintenance and operational planning.
  • Improve the approach to the identification of maintenance requirements for refurbish-able assets.

 

We look forward to being able to discuss these wide-reaching issues with you and sharing the knowledge and experience that we have gained from our world-class customers. Contact us now….

 

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Asset Management

Masterclass

with

John Woodhouse

Our Asset Management Academy is pleased to announce 2023 dates for our Masterclass – the benchmark for personal development and competency recognition for Asset Management Professionals 

Aleck Santamaría De La Cruz

Executive in Operational Excellence, Asset Management and Best Practices in Projects, Operations and Maintenance in the Energy and Industrial Sector.
Consultant, Instructor and International Lecturer on issues related to project management (risk management), operational reliability, strategic management of operations, maintenance, Asset Management in the energy sector (ISO 55001) and Applied Data Analytics.
PMP, CMRP, IAM and CAMA certifications, being recognized by the SMRP in 2019 as CMRP of the Year https://smrp.org/2019-CMRP-Winners.

George Galambos

George has over twenty-five years of experience as a consulting engineer providing design, planning, program and project management, and strategic asset management services for asset-intensive organizations in the Americas, Africa, and the Middle East. His primary focus has been in the public infrastructure sector; as a result, he has intimate knowledge of the assets, processes, and resources necessary to deliver and sustain safe, reliable services to the customers of public asset-owning organizations.

George has assisted organizations with the development of PAS 55, ISO 55000, and GFMAM AM Landscape aligned asset management systems (AMS), has performed gap analyses of their AMS against industry standards and best practices, and has guided them through the creation of strategic asset management plans (SAMPs), asset management plans (AMPs), AM policy and supporting documents. He has undertaken asset risk modelling to ascertain organizations’ capability to sustain their desired levels of service. George has performed asset health-informed lifecycle cost modelling and forecasting capital and operational expenditures over near and long-term planning horizons.

John Woodhouse

With 30 years’ experience in utilities, oil & gas, transport and other sectors, John is one of the most widely known experts in integrated asset management projects for some of the largest companies in the world.

John is a Founder and Life Fellow of the IAM; he has written 4 books, chaired the development of BSI PAS55 and represents the UK on the ISO55000 committee.

He also led the international MACRO and SALVO collaboration projects in optimised asset management decision-making.

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