Asset Strategy Management (ASM)

Develop a maintenance strategy! What do you want to gain with your equipment maintenance, why it is important for the equipment, and how does it meet the stakeholder expectations. Then turn strategy into the plans to maintain production asset reliability with the equipment maintenance program.

Most maintenance improvement initiatives today are functional in nature. Managing assets strategically involves every function in the plant working towards the same goals. Operations and maintenance are rewarded for creating and utilizing the capacity of their units. Many companies have recently implemented reliability initiatives geared toward optimizing the maintenance function at their plants. Some are successful; however, most will admit they did not realize the expected benefits.

The Five Step Process to Developing Asset Strategy

1. Define the Problem
2. Analysis and Process Mapping
3. Failure modes and effects analysis (FMEA)
4. Initial Asset Strategy
5. Institutionalise the continuous improvement process and make it visual

key requirements of successful plant-wide reliability improvement are these:

  • An analysis of the potential production available in the plant based on best demonstrated performance and operating characteristics of best-performing plants
  • Quantified current operating rates of each unit and goals for improving these rates
  • A business case with a three-five year horizon that identifies expectations for costs and production based on improvement efforts.
  • A multi-year plan that identifies the types of changes in practices and measurements needed to achieve the goals
  • A keen understanding that every function works interdependently to manage equipment health
  •  Accountability for delivering these results, transcending annual budget cycles
We at  AMCO Integrity Pty Ltd take our clients through the development of a sound Maintenance Strategy meeting their business requirements, maintenance budget, and proven methodologies.

Today maintenance managers have huge pressure due to low production and increasing cost,  AMCO Integrity Pty Ltd can assist. We provide a wide range of maintenance strategies and reliability management services. Our maintenance experts can support:

  • Study current maintenance strategy and history to find the Most suitable maintenance improvement opportunities
  • Preventive maintenance strategy development
  • Predictive maintenance strategy development
  • Enterprise Asset Management Strategy Development
    Maintenance Audit and/or Maintenance Management System Audit
  • Equipment criticality analysis
  • Operational risk assessment
  • Conducting Failure Mode Effects Analysis (FMEA)
  • Conducting Failure Mode, Effects and Criticality Analysis (FMECA)
  • Performing Reliability Centred Maintenance (RCM) Analysis
  • Doing Root Cause Failure Analysis (RCFA) of Equipment Failures 

AMCO Integrity Pty Ltd provides a wide range of maintenance strategies and reliability management services.

  • Carry out an analysis of operational requirements and constraints
  • Identify all plant assets, equipment, and components
  • Validate what assets you own
  • Identify the criticality of component/equipment
  • Study maintenance and inspection history
  • Undertake FMECA for the critical plants to ensure failure modes are being addressed by the preventive maintenance strategy
  • Determine the appropriate strategy for each piece of equipment eg. run to failure, condition-based, time based etc
  • Develop optimised maintenance strategies
  • Eliminate actions that do not meet the business requirements
  • Compile appropriate actions in to like categories based on trade type, frequency, access etc
  • Develop the PM schedule considering your resource plan and capacity
  • Export the data ready for load up into your asset management information system.

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Other Related Services


Reliability Centered Maintenance (RCM)

RCM is an engineering framework that enables engineers to empirically devise an optimum maintenance regime for plants.

Failure Mode and Effect Analysis (FMEA)

FMEA is a structured analytical tool used by an organization, to identify and evaluate the potential failures of a process.

Asset Criticality Assessment (ACA)

Asset Criticality Analysis is a process by which assets are assigned a criticality rating based on their potential risk.