Asset Condition Assessment

Knowing the condition of any asset can be a challenge’. in your mind you always wonder, Are my Assets up for the job?

We continue to look at the eight elements relating to Asset Condition Assessment.

Asset Condition Assessment – Critical to Sustain Performance

We need to assess which are the critical assets of the company. Which assets if not available and working would leave the organization in serious trouble in terms of non-performance for production of product?

These identified assets need to be viewed in terms of

  • What are their causes of failure and how often do they fail?
  • What is the projected likelihood of failure?
  • What does it cost to repair them?
  • What are the consequences of failure?

Asset Condition Assessment – Continual Improvement

As we have already discussed the project of continual improvement never ends. Continual Improvement means we continually need to search for new initiatives, to streamline our processes and maintenance activities. We need to view what alternative management options exist or may be available to us? Which are the most feasible for my facility?

 Asset Condition Assessment – Operational Performance

When it comes to reviewing our Operational Performance, we need to investigate and understand these areas of activity

  • Capacity
    • All to do with volume of product
  • Maintainability
    • To view ease of maintenance
  • Reliability
    • Is the trend of breakdowns acceptable
  • Availability
    • Is it capable of maintaining meeting expected demands

Asset Condition Assessment – Operational Performance

Capacity

We need to find out

  • What is the production volume of the asset, measured in units of time.
  • At what level of skill are the production working at and are capable of
  • How has the asset been designed and what are the design properties.
  • What are the technical characteristics of the asset

Maintainability

  • Does the design and installation enable good, effective maintainability of the asset
  • Is the serviceability with inspections and schedules acceptable

Reliability

  • Is the asset performing and functioning reliably as required, in a stated condition for a period of time.
  • How Frequently Does it Fail
  • Availability
  • Is the functionality available to meet demands and is the percentage downtime acceptable.
  • Is the asset capable of doing it’s job with the current levels of breakdown and duration involved.

Don’t forget about the vital role that the Asset Performance Management System plays in providing necessary information, to assist in all the above assessment evaluation exercises.

Contact Joe  Schoeman and the Schorp  Group  Team for more information.
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