Driving Reliability through Asset Management Improvements

by | Jan 16, 2012 | Asset Management, Reliability

Jim Cahill

Chief Blogger, Editor

If you’re planning to attend the 16th Annual ARC World Industry Forum in Orlando, Florida on February 6-9, make sure to see Augie DiGiovanni presentation, Improve Asset Management to Drive Reliability. Augie is the vice president for Emerson’s Asset Optimization business. His presentation will be on Wednesday, February 8.

I asked and successfully got my hands on a copy of the presentation in order to share a few of his key ideas with you. In it, he stresses the importance the design of an asset management program, which includes assessment, prioritization, strategy management, and implementation. Because people, processes and technologies are all involved, front-end analysis, planning, and preparation are critical.

The assessment phase includes a look at the current work processes, technologies, organizational culture, and the skills of the plant staff. The prioritization process considers both the likelihood of plant asset failure as well as its impact from safety, regulatory compliance, product quality, process throughput, and operational cost perspectives.

Augie will walk through the asset prioritization process describing a step-by-step approach in dividing the operational units into systems, applying the business criteria, calculating criticality rankings, incorporating failure probability factors, and developing priority indices. He will show examples of how this process is applied and will give strategy sheet examples around plant assets.

AMS Suite: APMThese asset strategies can be monitored in applications such as AMS Suite: Asset Performance Management software, based on Meridium’s APM software. AMS Suite APM enables managers to access integrated information from multiple data sources (enterprise resource planning systems, maintenance systems, field device management systems, machinery management systems, plant process historians, etc.), view real-time analyses and reports, and manage business goals to achieve higher levels of business performance.

Augie will share examples from power producers, oil & gas producers, and petrochemical producers and how they drove reliability improvements and impacted business performance in safety, regulatory compliance, product quality, process throughput, and operational costs.

Beyond the takeaways you’ll get from his presentation, Orlando, Florida in February sounds like the place to be!

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The opinions expressed here are the personal opinions of the authors. Content published here is not read or approved by Emerson before it is posted and does not necessarily represent the views and opinions of Emerson.