Simplifying RCM to Achieve Value with a Risk-Based Asset Management Methodology
BoK Content Type:
Presentation Slides
Presentation Paper
BoK Content Source:
MainTrain 2016
Original date:
Thursday, September 22, 2016
Risk-Based Asset Management is a strategic management approach to physical assets that leverages an enabling technology such as SAP Plant Maintenance coupled with risk and failure based controls. This approach ensures optimum asset care to drive increased availability that creates value, resulting in higher profits. Today, increasing asset utilization and decreasing total cost of ownership are standard corporate objectives. Organizations must optimize asset performance to survive tough business conditions. The focus on continuous improvement and lean events to increase OEE, improve availability and reduce life cycle costs is now common place - but this approach doesn't go far enough. Faced with the lack of technically qualified people, an aging work force, and shrinking margins, organizations must consider risk when applying resources to asset management. This presentation will describe the process of cataloging physical assets by hierarchy, criticality and risk. Participants will receive an overview of risk and failure analysis and their linkage to controls, and discover how some common reliability analysis techniques can used to ensure continuous improvement.