Has anyone seen my assets

Asset Importance

When I first started out in the Asset Management Industry I would often go to a site and ask the relevant person, ‘Do you have an Asset Register?’ The response was often amusing. A blank look and then a pointing finger generally sweeping over the facility, stating ‘my assets are out there, why do I need an asset register?’

This is the way things used to be. An experienced engineer who knew his plant and equipment intimately, kept everything running smoothly but never saw the benefit of establishing an effective up to date register of assets.

Today’s world is different and companies can succeed or fail based on how up-to-date the availability of asset information is, to ensure speedy, effective, and excellence of asset maintenance management.

Well-maintained assets are key to effective production levels.

• Do you have an integrated up to date detailed register of assets?
• Do you know where all your assets are and what condition they are in?

Poorly maintained assets will have a detrimental and sometimes devastating effect on production and company profits, due to machine breaks, waste material, and a host of other issues. If you are seeking to improve the effectiveness of your organization or maintenance function, then welcome to this series of articles on The Wonderful World of Asset Management. Here we will discuss and learn about the role of the asset life cycle and the importance of a correctly structured and well maintained accurate asset register, which is vital to the ongoing productivity and profitability of your organization.

Process Improvement

Asset Maintenance Management is a continuous process improvement strategy for improving the availability, safety, reliability, and longevity of physical assets such as systems, facilities, equipment, and processes.

How well are your assets being looked after?

Asset Management – Overload!!!

I thought we would start by having a light-hearted look at a few ‘asset went wrong’ pictures.

These are definitely what Asset Management is NOT about. This is definitely a case of overloading an asset, not to mention anything about an unsecured load.

The only good aspect is that whoever planned this loading must have been a genius.

Asset Management – Rock on

It would appear that the driver of this vehicle definitely parked in the wrong place. Perhaps he should have ignored the no-through road sign and parked where the other cars parked. I only hope the driver was not in the vehicle when it rained that rock on his prized possession and that he knows a good panel beater.

Our assets need to be looked after in a much more professional and effective manner.

Let’s get started by trying to get a solid understanding of What Asset Management is all about and what impact it does have on industry and facilities today.

Engineering Tip

I love this engineering growth road tip

• When you join the engineering world the first thing you feel like doing is Denial
• Then you progress to Grieving
• Then to Acceptance
• And finally to believing that you are in an awesome business

Thumbs up like the lady engineer in this image.

I have often referred to my career choice as an awesome decision and I sincerely hope it becomes the same for you.

Areas of Asset Management

To get an understanding of what Asset Management is, we will need to look at the following 4 areas, some of which will be dealt with in future articles.

• What is Asset Management?
• Why do we need Asset Management?
• What are the objectives of Asset Management?
• What is the Asset Life Cycle?  

What is Asset Management – Improvement Strategy?

It is a Continuous Improvement Strategy for enhancing and managing the life health of the assets:

• To ensure the asset is available and reliable for work
• To make sure it is performing to specification
• To ensure it is functioning in a safe capacity
• To ensure it is being well utilised
• That breakdowns are being reduced and their impact is minimising maintenance costs.

Healthy and well-maintained assets will give longer service and more reliable service applicable to All Physical Assets, Systems, Facilities, Equipment, and Processes. This is reinforced by the image on the right, highlighting 6 areas

• Availability
• Reliability
• Performance to be increased
• Breakdowns to be minimised
• Utilisation
• Maintenance Costs to be reduced

Asset Management is a Continuous Improvement Strategy for enhancing and managing the life health of the assets and it will have a positive impact on all the above areas.

Neglect it at your peril!!!

For more information email us at info@strobe-al.co.za or visit www.strobe-al.co.za