02 Asset Management Decision Making

This presentation will describe Nova Scotia Power Inc.’s (NSPI’s) Asset Management journey – comparing the progression for our Power Production division, with that current in play in support of our Transmission, Distribution and Delivery (T&D) division. NSPI has deployed a fully-integrated, technology-enabled Asset Management approach for its Power Production fleet of assets. The journey to undertake that development was staged, with key components of the asset management approach integrated in a step-wise fashion, each building up on the other. Carefully designed visuals were used to communicate and gain asset owner (plant management and field-level) support for the initiative, and resources from the organization migrated to the centralized asset management team over time, providing centralized, fleet-level support vs. plant-level support. Over approximately 8 years, the “Asset Management Office” team grew from 3 to 10, including dedicated operational technology resources, technical subject matter experts focused on generation assets and performance, and field level support resources. Major programs were deployed such as condition-based monitoring, predictive analytics and digital Operator rounds. There was room for trial-and-error, and continuous improvement with significant field engagement. A very bottom-up approach. In 2017, the Asset Management team’s mandate expanded to include NSPI’s T&D assets. The mandate included an organizational change, which gave the Enterprise Asset Management (TEAM) division (which includes Asset Management, but also Capital Management and Planning) elevated status via Sr. Director leadership. Some resources from the T&D division of the organization changed their reporting point to the AM team “en masse”. An EAM Integration Management position was created to have consistent leadership over the integration of the asset management approach across T&D, including integration into existing Asset Performance Management systems and framework, ensuring alignment with, and building on successful work completed for Power Production. The expectation for successful transition at a higher level, with minimal bumps along the way, was very different. A very top-down approach. Each approach has its highs (“…the best of times..”, and lows (“…the worst of times…”). But while different, there are common learnings and lessons that can be applied. Each approach can be effective – and in fact has been effective for NS Power. Perhaps you are starting small…. Or perhaps you are starting big… or somewhere in between. In any case, our Tale of Two Deployments will share with you NSPI’s experiences, and share of the benefits and challenges of each.Originally presented at MainTrain 2021 

In operating large or multisite portfolios, there are significant resource constraints which result in limited or a misallocated application of financial and time investment; this in turn, provides either unanticipated or high risk results. I will guide session attendees through the process of developing a decision making model for initiative prioritization - whether it is capital works projects, maintenance activities, continuous improvement initiatives, or potentially the day to day routines already established. We will begin with the journey of defining operational context in the view of the customer, the levels of service and focus areas for maintenance teams and capital teams. It becomes challenging with fiscal constraints, and the charge to implement continuous improvement often doesn’t result in value; how do we prevent ourselves from reacting to the latest trend or quick solution? How do we identify everything that needs to happen vs everything we want to happen? Understanding where you are is key in being able to define how you get to where you want to be. However, prioritizing the purpose of what you do is paramount to focus efforts on activities which add value to not only the organization but the customer, and to form a strong culture of positive support for our people. The decision making model you use and the role as a facilitator amongst the varying stakeholders and opinions is key to achieving success.

The cost of an error depends on where you catch it. In DfR programs, the design phase is a good place to start.          Interview with ; Marie Getsug, PMP, CAMA, CMRP, CRL, CPIP | Jacobs | Program Manager            This article was originally published on MachineDesign.com.

Asset intensive companies continue to rapidly advance their thinking regarding Enterprise Asset Management – including through the influence of connected assets and remote condition monitoring. These advancements, among others, have shifted focus from reactive to predictive maintenance practices based on real time failure data. Yet, despite the direct impact that spare part availability has on timely maintenance and Asset Health, the approach to spare part management has often lagged in asset heavy industries. The disconnect between asset decisions and supporting spare parts (MRO) inventory through the Asset Management Lifecycle contributes to stock outs, obsolescence, and unplanned downtime. The objective of this paper is to introduce the concept of the MRO Lifecycle as a complementary framework to the lifecycle management of assets. And to explore how actions and decisions made at each stage of the MRO Lifecycle correlates and contributes to more robust decisions throughout the Asset Management Lifecycle. The session will also introduce how software solutions are helping uncover and drive improvements in MRO Inventory Management to enhance the quality of Asset Management decisions, encompassing spare parts and the role that availability plays in improving overall Asset Health. Drawing from more than 20 years of industry experience and leveraging examples across sectors such as food & beverage, automotive and mining, Xtivity will share approaches, solutions and results from global industry.

There is little doubt that managing during the COVID-19 pandemic, and making plans for re-entry to the workplace, has been challenging for building professionals. The epidemic triggered a rapid shift on establishing new work protocols, the handling of facility maintenance routines, dealing with greater sanitization requirements, emergency measures, and new work behaviours. As vaccinations continue to be administered, businesses have had to develop strategies for safe and enhanced re-entry workplace procedures. During the session, a scan of the past year’s trauma and experiences will be shared from a building professional’s perspective. These experiences have strengthened and accelerated new opportunities as we rebuild an optimal workplace. The session will look at different workplace options in the new paradigm.

To deliver value from our assets means organizations must manage cost, performance, and risk simultaneously. In practice, this is no easy task. Are there trade-offs? Sure, but seeking to balance breeds mediocrity. Can we optimize? Yes, the aim is to achieve higher service at a lower cost and acceptable risk. The magic CPR triangle provides a simple representation of a complex dynamic system that is constantly resolving itself to produce the results the organization deserves based on how well its assets are managed, or not. Join Paul Daoust as we challenge our perceptions of the fascinating relationship between cost, performance, and risk. Together we will apply the magic CPR triangle as a basis for crucial first principles thinking leading to more, better decisions, vastly improved business plans, and higher-value business outcomes from the same assets with fewer resources.

Le Panorama de la gestion d'actifs est une initiative du GFMAM axée sur son troisième objectif à long terme, à savoir, « faciliter l’échange et l’harmonisation des connaissances et des savoir-faire en matière de maintenance et de gestion d'actifs.

Let us look at an ordinary omnipresent part of Asset Management: bolting and fastening the machinery or structure. This single vital activity turns out to be remarkably neglected with undesirable consequences for reliability. Motion Amplification®, a new technology has the capacity to show machinery and structural movements, and so naturally brings out looseness or unnatural behaviors. Fastening errors seem to be one of the most prevalent occurrences and it is therefore important to look at what we can learn and how the technology can drive improvements and uses of best practices. A variety of problems are shown, such as forgotten difficult to access bolts, rusted/corroded fasteners, improper tension, improper washers, bolt grade or size and custom modifications such as a bunch of small shims. Some of the issues can be attributed to design errors, some to lack of asset information provided, some to installation errors, lack of training and proper tools or a culture of installation and maintenance excellence. Sometimes and improvement push comes with the integration of more advanced tools, for example tools exist where the torque can be properly managed. This requires that many other items come into place, such as the missing information, correct parts, training and cultural to get the job done properly.

The Asset Management Landscape is a tool to promote a common global approach to Asset Management.  It includes a number of conceptual models, a list of 39 Asset Management Subjects and Principles and a framework for describing best practices, maturity and standards. Two important purposes for the GFMAM Asset Management Landscape are to provide:the structure for building a body of knowledge for certification schemes and qualifications in asset management,the structure (and potentially the criteria) for assessing an organization.

“In asset investment planning, research suggests the difference between best practice and what most organizations have is somewhere between 8–20% in value.”