THE Asset Management event you won’t want to miss this year
“….our growth and success enable us to take on the Headline Sponsor role for this event, particularly as we will also be launching several new services and capabilities.”
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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.
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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The Woodhouse Partnership joins the RSK Group
Our asset management training, education and consulting services have been in rapidly growing demand, worldwide, and we have been seeking the best way of scaling up while maintaining our unrivaled standards, culture and collaborative style of working.
