Disposal and Replacement This is the final cog in the wheel of the asset life cycle when it comes time to say goodbye. It helps us to determine what the asset’s remaining economic value is. Disposal and Replacement – Index …
The fourth element in The Life Cycle Asset is The Asset Valuation, where we discover how to determine the asset’s remaining life. Asset Valuation – Revaluation A Revaluation of Assets exercise can be described as a change in asset market …
As we work through the Asset Life Cycle, we have discussed the first two elements, Asset Inventory and Condition Assessment. The wheel, however, still keeps turning, and now it is time to turn our attention to the third element, Replacement …
Asset Condition Assessment – Long Term Funding Planning Strategy Planning and Funding Strategies There is an expression that says Rome was not built in a day. Well, neither will you’re Asset Management System. It needs to be viewed as a …
Asset Condition Assessment – Information Sources Information Sources There seems to be a minefield of information, but it should be available and can come from many different sources, such as: So often, these people have years of experience, knowledge, and …
Asset Condition Assessment – Critical to Sustain Performance Structural Deficiencies We need to assess which are the critical assets of the company. If not available and working, which assets would leave the organization in serious trouble regarding non-performance for producing …
Asset Condition Assessment Just to refresh our memory here, we see the asset life cycle again and can see the Asset Condition Assessment segment highlighted. Let’s try and answer the question, what condition are our assets in, and are they …
Asset Identification By now, you should have identified all the assets in your facility using the various methods and technologies we have already discussed. All the assets should have been recorded comprehensively and accurately on a structured spreadsheet designed for …
The Green Planet There is a lot of conversation today about working towards a green planet environment. Well, it may surprise you to know that asset management fits right into that category as we need to start to grow trees. …
In this final chapter of our investigation into The Destructive Force of Failure, we are going to look at the final two statistical tools that we identified. They are Mean Time between Failure, referred to as MTBF, and then Condition …