Plant asset management today puts emphasis on the facts of engineering, finance common sense, risk and profit management. It appears that traditional maintenance is a thing of the past. The new trend is more like managing the health of the productive assets. Plants and equipment are designed and operated to stay in good health throughout their life-cycle.
This course focuses on the current asset health management methodology which can successfully replace Lean Six Sigma. Its methods are compliant with the requirements of the ISO 55001 asset management standard. It is aimed at applying practices that remove all causes of failure. This will lead to excellent processes and world-class performance.
There are two benefits of managing plant assets well – full asset availability and low maintenance and repair cost. Zero operational risk can be achieved through purposeful efforts. This can be done by proactively eliminating all causes of failure. These measures will be especially interesting for executives because they increase profits and it can be expected that management will support their adoption.
Some managers are saying that 99% equipment availability is extremely costly to achieve. But the asset management method, discussed in this training, can solve the issue. Reliability built into the working processes will engage workers with achieving results. This is the way to create a culture and habit to conduct an organization-wide process that would not miss a single opportunity to increase reliability. Raising reliability is a great winning strategy.