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Do you have sufficient insight into the asset risks in your organization? Do you know what the impact of maintenance measures is on asset risks and your operations? Do you have insight into the condition of your assets? Is the maintenance strategy still sufficient? Imagine if the performance of your assets were reliable and the costs and replacement moments predictable. It is possible with our framework for asset reliability and health.
As an asset owner and as stakeholder of the organization, you want to be able to rely on assets to add value and contribute to achieving organizational goals. You also want to know which assets are crucial in delivering that added value. What are the expected performances and how do we measure them? And what should be the norm and why?
The asset portfolio is also not static over time. Assets age and their condition deteriorates. But not always. The risk-based maintenance strategy that we established years ago often no longer meets the needs of aging assets, resulting in a gradual decrease in asset reliability. Should replacement of this asset be opportune given its failure behavior, condition, remaining useful life, and risk? Or is life-extending maintenance a better option? Or is an adjustment of the maintenance strategy the solution?
To answer such questions, you need insight into the reliability and health of the asset. A first step in this is a good analysis of the maintenance and failure data, however inadequate they may sometimes be. In combination with a check on the existing maintenance strategy, the condition of the asset, and the remaining useful life, this generally provides sufficient insight to gain more control over the performance and risks of the asset and to take the right measures. And to better support decisions regarding end-of-life.
You can structurally gain more insight into the health of the asset and the right replacement moment by setting up a set of indicators that summarize aspects such as failure behavior, condition, remaining useful life, and risk for each asset. This is what we call asset health indicators, which should not be missing on the dashboard of the asset manager.
Applying an integrated framework for risk-based maintenance, data analysis, and asset health indicators provides a framework and approach with which you can sustainably control and manage your risks.
Do you want more control over the performance and risks of your assets, taking into account what is important in your organization? We can help you.
A collaboration with IES? We work with you to establish a common goal based on your requirements, and our approach is always tailored to your unique situation. Our philosophy emphasizes the importance of the people behind the technology, and we aim to achieve lasting change within your organization by prioritizing the human element.
Want to know more? Feel free to contact Randolph Smit for further information.
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