Asset Management

 Good Asset Management is becoming an expected normal practice in mature organizations around the world. This is because asset management enables an organization to realize value from assets in the achievement of its organizational objectives.

 
Accordingly, ISO 55000 and PAS-55 standard series provide a management system based on the following set of fundamentals:

a) Value: Assets exist to provide value to the organization and its stakeholders.

b) Alignment: Asset management translates the organizational objectives into technical and financial decisions, plans and activities.

c) Leadership: Leadership and workplace culture are determinants of realization of value.

d) Assurance: Asset management gives assurance that assets will fulfill their required purpose.

 AlterEvo Ltd. methodology is aligned with ISO 55000 / PAS-55 standards and it is based in the identification of the optimum of Life Cycle Cost and the adaptation of its position to the customer needs, by the study and the optimization of:

• Acquisition Cost, by studying alternatives to acquisition as leasing.
• Operation Cost, by implementing Operational Excellence processes, as Lean Manufacturing, Production Assurance and Operator Driven Reliability. 
• Maintenance Cost, by implementing advanced strategies as Reliability Centered Maintenance (RCM) based in SAE JA 1011 standard, Reliability Centered Lubrication (RCL), Risk-based Maintenance (RBM) and Total Productive Maintenance (TPM) processes; including Spare Parts Optimization and Defect Elimination processes. 
• Disposal Cost, by studying the best alternative to disposal de asset.
• Risk Costs, by assessing and managing the risk associated to the asset by methodologies as Quantitative / Qualitative Risk Assessment (QRA), Failure and Effect Analysis (FMEA), Fault Tree Analysis (FTA) and Event Tree Analysis (ETA), based in ISO 31000 and ISO 17776 standards. 

This methodology can be complemented by Risk-based Machinery Management by API 691, and Life Cycle Costing by ISO 15663.

Physical Asset Management optimization is needed in a highly competitive industrial sector because it has a direct impact on the productivity and bottom line of organizations. In this way, BIM could be a key tool to improve facility management. 

An asset management program based in ISO 55000 / PAS-55 standards produces the following benefits:

a) Improved financial performance;

b) Informed asset investment decisions;

c) Managed risk;

d) Improved services and outputs;

e) Demonstrated social responsibility;

f) Demonstrated compliance;

g) Enhanced reputation;

h) Improved organizational sustainability;

  i) Improved efficiency and effectiveness.