Gone are the days when asset strategies were formulated on a standalone basis. Organizations are facing tough competition and a holistic and unified approach is required to tackle problems.
- Taha Bin Mahmood
Typically, strategies for maintaining assets are put in place when the asset is installed or as a reaction to a failure. These strategies range from a run-to-failure to continuous CbM monitoring. As a function is continuous improvement, it becomes necessary to go back and evaluate that strategy's effectiveness. In performing Preventive Maintenance Optimization (PMO), you to leverage actual performance against various inputs that created the strategy (FMEAs, RCAs, or even knee-jerk reactions) to determine if any changes are needed.
- Brendon Russ
- U.S. Sugar
Asset-intensive organizations today constantly endeavor to optimize the risks, costs and performance of their assets across their lifecycle to deliver value from their Asset Management in meeting their Business Objectives. The O&M Phases of Asset Lifecycle comprises development and management of Asset Strategies followed by their execution in Work Management and analysis for continual improvement.
- Sundar N.P.
- Stellar InnoStrat Consulting