Articles tagged Asset management

Benchmarking using Replacement Asset Value

A benchmark is the end distance point from the start.

In the world of maintenance, it is the name for the targets that an organization sets for itself in an improvement program.

Benchmarking is often against world-best practice and it is used to provide direction and focus in an organization’s efforts to improve.

When RAV is chosen as the benchmark it means that the annual cost of maintaining the plant will be measured against the value of the plant.

RAV is a percentage of the cost to replace the plant. The lower the RAV the more effective the maintenance effort. [Read more…]

by James Reyes-Picknell 1 Comment

Maintenance and Finance – Similar Roles of Sustaining the Assets of our Companies

Let me first say that this is not a slam against accountants or the accounting profession. This is intended to help put what they do in perspective and to show the similarity of what they do with what we, as maintainers, do. [Read more…]

by James Reyes-Picknell Leave a Comment

Capital Asset Management™ and RCM

Reliability Centered Maintenance (RCM) is extremely useful for organizations considering certification in Asset Management or looking at improving their asset care practices.

Exploring RCM as a tool, getting training for instance, is something that any organization interested in Capital Asset Management™, Asset Management or compliance to ISO 55001, really should do. Here’s why… [Read more…]

by Greg Hutchins Leave a Comment

Are You Playing Asset Roulette?

Guest Post by Keith Ridgeway (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Did you know on average around 30% of all organisations do not know what they own, where their assets are located or who is using them; and over 65% of information recorded on asset registers is incomplete, inaccurate or even missing. What’s more concerning is a number of these assets may not be statutory compliant e.g passenger/good/DDA lifts, fire, gas, pressure asset etc. [Read more…]

by James Reyes-Picknell 2 Comments

Managing Failures Before They Occur

Welcome to part eight of my 10-part series of blogs called “Uptime Insights”, where we explore a journey of excellence in maintenance. To stay on top, managers must implement strategies that keep operations performing at high levels. In these articles I will show you how to achieve excellence in maintenance – a critical business process in any capital intensive industry. [Read more…]

by Mike Sondalini 1 Comment

Unfired Pressure Vessel Inspections

Pressure vessels must be regularly inspected and be maintained in a safe operating condition.

New Australian laws stipulate that all pressure vessels must have a Hazard Level rating (‘A’ highest to ‘E’ lowest) which reflects the vessel’s safety risk (see AS3920.1).

The higher the risk the more stringent the requirements for operating and inspecting the vessel.

Keywords: receiver, non-destructive testing, internal inspection. [Read more…]

by Mike Sondalini Leave a Comment

Asset Management – Quality is a Mindset

Some quality paradigms are expensive

ABSTRACT

Some quality paradigms are expensive.

Quality is a mindset! When a wise man is given the chance to buy quality items he does so because quality pays for itself.

A quality item lasts longer, runs better and looks good when others fade. To change the way you think about quality takes a lot of experience with using poorer options. When you are sitting down with your head in your hands wondering what can be done to get costs down, to get production up and how you are going to hit the key performance indicators, remember the importance of quality equipment, quality systems, quality training and your quality mindset!

Keywords: quality control [Read more…]