This presentation discusses how a well defined asset management strategy supports the development of physical asset maintenance needs and how through asset criticality assessment, the maintenance strategy approach can be optimised with the use of condition monitoring.
Asset criticality can be utilised to determine what equipment qualifies for a condition monitoring program; what condition monitoring technologies to deploy; what the condition monitoring requirements should be for data acquisition frequency; and most importantly how equipment condition severity translates into a weighted business risk, so that remediation actions are prioritised and translatable throughout all layers of your business.
Asset criticality can become the single alignment piece across your business within Operations, Maintenance and Reliability groups to ensure the optimal balance around maintenance, reliability and utilisation so that the assets return to business can be maximised while minimising business risk and optimising maintenance costs.
Takeaways
-How a well defined asset management strategy supports the development of physical asset maintenance needs;
-How through asset criticality assessment, the maintenance strategy approach can be optimised with the use of condition monitoring;
-How equipment condition severity translates into a weighted business risk, so that remediation actions are prioritised and translatable throughout all layers of your business.

Currently working with Origin and in the Oil & Gas and Power industries. Over his career; Bruce’s roles have been primarily hands-on technical & leading a technical team with a strong emphasis on developing and delivering practical technical solutions and reliability initiatives around rotating equipment and plant mechanical maintenance.