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White Papers, videos, reports, and conference articles to highlight best practices.
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Learn more about Asset Management Concepts and Principles, Risk-based optimized decision-making and reliability, Risk and Maintenance best practices, and Strategic Planning. We have made available a selection of white papers, live workshop recordings, and conference articles for your further reading and education.
Nobody would deny that the tools in the title of this paper hold potential benefits, and indeed there is plenty of evidence that correctly implemented, each can yield substantial performance improvement. How do we integrate these individual ‘solutions’ and make a sustainable, growing, and home-owned suite of best practices? Read this paper to find out more about how to build a dynamic route map – one that builds the right bits of each new development into a single, cumulative improvement program read.
This paper summarizes and clarifies the different perceptions of value and benefits associated with assets and their life cycle management. It seeks common ground of terminology and practical measurement or demonstration of impact for the varied audience of financial, technical, regulatory, customers and other stakeholders. It also illustrates some of the reported benefits (added value) being achieved by (better) asset management, such as those being generated through the introduction of PAS 55 or ISO 55000 standards.
MACRO is a multi-industry, DTI-supported joint venture (European ‘EUREKA’ project EU1488), that is developing guidance and tools for better cost/risk evaluation and Asset Management decision-making. It is bringing together the technical aspects of reliability and risk-based analysis with the economic factors, human issues and data uncertainty. This paper focuses on some of the resulting ‘best practice’ methods, analytical tools and the results that are being achieved.
Most engineering, maintenance and operating decisions involve some aspect of cost/risk trade-off. Such decisions range from evaluating a proposed design change, determining the optimal maintenance or inspection interval, when to replace an aging asset, or which and how many spares to hold. Historical evidence points to what is allowed to happen – we try not to gather the data about the other side of the coin: what would happen if we did not perform maintenance?
This workshop shared practical tips to identify and quantify your best value opportunities in the current climate, identifying and unlocking ‘hidden potential’ and adapting your risk management to include an ‘urgency’ dimension.
This paper shows that a toolbox approach is vital, requiring a variety of techniques and technologies suited to different problem types and decision complexities. With feedback from over 200 implementation experiences in over 25 countries following the European MACRO project (which researched, developed and shared best practices from a variety of industry sectors) it demonstrates that the level of sophistication worth applying is closely correlated to the process criticality being managed and how low technology solutions often achieve the right answer without introducing the ‘black box’ risks!
Making a business case for re-investment can be difficult, especially in the current situation. This workshop shows how best to put hard numbers on the cost, risk and performance consequences of different options and timings. It includes live case studies of optimal lifespan decisions, such as upgrading of obsolete control systems and refurbishment or renewal of degraded equipment
Periodic re-investment in the fast-changing world of information technology (IT) is a large and growing cost for most organizations. Obsolescence means increasing difficulty in finding spares and obtaining support, increasing risk (system unreliability and vulnerability to cyberattack) and potential missed opportunities for performance gains as new IT capabilities become available. This workshop demonstrates, with a live case study, best practice for the quantified evaluation of options and optimal timings, including building the business case for re-investment.
Faced with many projects competing for limited funds or resources, which ones can you safely defer with “least worst” consequences? We will show you how you can quickly and consistently evaluate and prioritize your projects on a ‘level playing field’, even if data is patchy and the projects have widely different motivations and benefits.
Aging assets and how to manage them is perhaps the most important issue facing Infrastructure Asset Managers across the world. Making decisions on what to do and when, often with limited information, whilst optimizing the trade-off between costs risks and benefits presents a major challenge. The SALVO project was an international cross-industry R&D project, with leading-edge asset owners and practitioners working together to establish best practice approaches to address this key Infrastructure Asset Management issue. This paper explores the issues and reports on progress to date.
The SALVO (Strategic Assets: Lifecycle Value Optimisation) project has been a cross-industrial collaboration project that has tried to address this problem over the last 3 years. It set out to develop people-centric decision-support processes and tools, document the ‘Must Do’ steps, and demonstrate how these can be applied in a wide range of practical circumstances. This paper highlights some of the findings, which are now published more extensively as a guidebook “Asset Management Decision-making: the SALVO Process”.
The SALVO Project was a multi-sector collaboration program that researched, developed, and defined best practices in asset management decision-making. In particular, it addressed the common problems encountered in the management of aging assets; decision-making in the face of risk and data uncertainty, and how to quantify ‘intangibles’ and value realization.
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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.