City Scape

The Economics of Bad Parts

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Content Description
Original date: 
Monday, June 15, 2020
Abstract: 
This article will be discussing the issues and some causes of bad parts.
BoK Content Source: 
Practitioner Produced
BoK Content Type: 
Article / Newsletter
Asset Management Framework Subject: 
02 Asset Management Decision Making, 2.04 Resourcing Strategy, 2.05 Shutdowns & Outage Strategy, 3.00 Lifecycle Delivery General, 3.08 Resource Management, 3.11 Asset Decommissioning / Disposal, 05 Organization & People, 5.05 Competence Management
Maintenance Management Framework Subject: 
02 Maintenance Program Mgmt, 2.6 Asset Criticality Analysis, 2.9 Outsourcing, 05 Maintenance & Reliability Engineering, 5.4 Critical Spares & Redundancy Analysis, 06 Work Management, 6.2 Work Planning, 08 Material Resource Mgmt, 8.0 Material Resource Mgmt General
Author Employer: 
Asset Management Solutions
Author Bio: 

Leonard G. Middleton is an experienced professional with many years of broad professional experience, in Canada, the US, and internationally, He has worked in a number of different roles related to maintenance, reliability, and asset management, program and project management, contracts management, outsourcing, and engineering, in industry and in his consulting roles. His experience in asset intensive industries has reinforced his perspective on the importance of the physical assets on the operational cost structure, and with that the need to get the assets appropriate to the organizational objectives through projects, and then operating and maintaining them effectively. Leonard has an undergraduate engineering degree (B.A.Sc.), a graduate business degree (MBA), and holds professional designations in engineering (P.Eng.), project management (PMP), and in Maintenance, Reliability, and Asset Management (CMRP, MMP, CAMA), and is an RCM Practitioner.
Leonard is a long-time member of PEMAC, having served on the national Board of Directors for multiple terms. He is an instructor in both the MMP and AMP programs and is a subject matter expert responsible for the content of two MMP modules