02 Asset Management Decision Making

Reliability is a powerful concept that applied properly makes the difference between success and failure of installations, processes and systems; nevertheless, reliability does not need to be difficult, complex and overwhelming. Quite the opposite: reliability applications  are more likely to succeed if they are easily understood by the different levels of the organization from trades to CEO. This is achieved by explaining reliability concepts easily understood by everyone within the organization.The general objective of the workshop is to provide theory and practical guidelines to the audience for identifying and addressing reliability issues that are impacting the productivity and profitability the assets they are responsible for.The workshop will provide basic knowledge and understanding regarding the tools and methodologies available within the reliability discipline, for the design, analysis and implementation of equipment strategies to systematically improve the performance of assets.At the end of the training the assistants will be able to:- Understand the current Reliability Engineering terminology- Understand and apply reliability concepts at all levels of the organization- Understand and overcome the typical reliability paradigms- Collect the adequate data and calculate basic maintenance and reliability Metrics- Understand the different reliability methodologies and the right application framework for each one- Combine different reliability methodologies to create an effective reliability program- Understand the role that Reliability Engineering plays within the Asset Management FrameworkThe workshop is specifically designed for current or future reliability engineers, maintenance supervisors and planners with maintenance, engineering and/or operations background that desire to be involved in improving reliability, availability and maintainability of assets through the application of modern reliability methodologies and tools.

Vibration condition monitoring programs play an important role in an organization's rotating equipment reliability and maintenance strategy.  While organizations may be in different stages of establishing their program, there are some common things to implement in order to get the greatest benefit from any program.  This workshop focusses on starting your program off on the right foot.  The workshop will use case histories to outline reasonable expectations, current vibration technology, and specific vibration standards for various industries.In addition to starting off on the right foot the success of a vibration condition monitoring program will depend on maintaining momentum.  This workshop will finish by addressing areas within the participants program where they can focus on improving the long term reliability of their assets instead of simply finding failures.

Reliability Block Diagrams (RBD) help organizations achieve new project goals which makes them an especially important tool under the restriction of budget and production cuts that are currently typical due to economic constraints such as low oil prices. At design stages and under new budget cuts, management should consider a few things besides meeting the projects budget like: New plant capacity expected; Plant overall reliability and availability; Operating risks; and Projected maintenance costs. Participants will see that by building an RBD the project team will have a document that will help in the decision making while supporting both in production and economic terms a decision. 

This presentation is designed to assist the attendees to understand the concepts and principles of asset management.  It will then develop the vision for the maintenance and reliability organizations in an asset management compliant organization. The attendees will leave the presentation with a set of guidelines to insure that their maintenance and reliability organizations can properly support their company's asset management initiatives. 

Equipment/machinery performance is critical to deliver value for any organization. In this webcast Ramesh will describe how the asset performance and the total cost of ownership are dependent on how assets are designed. The majority of the cost of asset ownership is in the Operations & Maintenance (O&M) phase. However, the O&M costs are dependent on how assets are designed, built, installed, commissioned and operated.In this presentation Ramesh discusses the Asset's life cycle within all of these phases and demonstrates how to avoid the pitfalls during asset acquisition, design, built and installation phases to reduce the total cost of ownership for your organization's assets.

The Asset Management Council, based in Australia, is a non-profit, member network committed to advancing asset management knowledge and capability of members and the broader community. In June 2014, the AMA released an ISO 55001 Companion Guide as a ‘must have how to guide,’ that delivers an instructive approach when implementing ISO 55001. Sally Nugent, the executive director of AMC will share highlights of the guide during this session, and share why it has become an essential document for every asset management professional.

Asset Management is often stereotyped as being about maintenance and reliability. In truth Asset Management is more than that – Asset Management is about providing guidance and direction through the best and worst of times. This session will explore and explain how the application and adherence of recent PAS55 and ISO55000 principles can provide such guidance and deliver true enlightenment in the face of ever changing financial constraints. Learn how the boundaries of Asset Management have expanded when it comes to establishing and verifying a combined, optimized, and whole-life management system relating to your physical assets. We will discuss ideas for maintaining a focus on best practices, even in a time of cost reduction.

In his keynote presentation, Alex will explore the various stages of asset life and the decisions which must be made in each, as well as discuss the meaning of whole life asset management. You will also be introduced to modern methods of cost/risk evaluation and optimization; and see some practical approaches to whole life cycle asset management and how this impacts maintenance and reliability. Alex will explore maintenance and reliability in the context of your organization and challenge maintenance and reliability professionals to consider alternative approaches.

While leadership often requests a business case for implementing a comprehensive Maintenance & Reliability Readiness (M&RR) Plan for a specific capital project, it can be difficult for M&R practitioners to build one. And many plans do not consider the value destruction that occurs in the majority of new capital projects accounting for approximately 9% per $1B invested. This session discusses the causes for this loss:  buying excessive new capital spares; reduced and/or intermittent production during the ‘ramp-up’ phase, and much higher annual maintenance expenses. By understanding the loss in value that can be avoided through the adoption of a comprehensive M&RR Plan, maintenance and reliability practitioners will be able to effectively communication a business case for an M&RR investment.

This presentation was given as an online lunch and learn sponsored by the Alberta Chapter. The case study covers an impressive project at Suncor in which a risk-based inspection program was set up (as part of an overall system-wide maintenance plan) on a greenfield project using 3D drawings. You can access both the Powerpoint presentation and the recording of the session here.