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Asset Management and Reliability (AM&R) Process Troubleshooting

Asset Management and Reliability (AM&R) Process Troubleshooting

Establish value and success through asset management services

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Asset Management: An Art and a Science

Asset management is no longer an option, but a necessity for any small, medium or large organization, whose goal is to provide sustainable results over a long period.

It is quite common despite the availability of an Asset Management and Reliability Program, with defined goals, scope, and KPIs, the business interruption exposure or asset failure rate to remain unknown or even to increase. So why it is not working and what can be done?

Understanding Asset Management

Asset management is a very complex “process infrastructure” through which any organization is “driving” to realize value from critical equipment and assets. The art and science of making the right decisions within a facility and optimizing the delivery of value lies at the heart of asset management. This is done through processes designed to make the right decisions and optimize the delivery of value.

Asset Management and Reliability Troubleshooting Concepts

The typical insurance risk-based surveys are primarily focused on limiting their level of asset exposure, while evaluating the severity and risk against critical controls in place and mitigating maintenance programs.

Asset Management and Reliability (AM&R) Process Troubleshooting is a corporate, top-down custom systematic approach for evaluation of the Asset Management system in place, focusing on the processes and the interaction between the parties involved, as well as supporting metrics, organizational design, processes, information systems, and corporate culture for your business.

The process includes evaluation of the risk management program and the balance between the cost opportunity and risk against the desired business goals focused on your production value streams.

Symptoms of a Deficient AM&R Program

Asset management procedures not covering the whole asset lifecycle
Underdeveloped/underutilized CMMS
Poor asset performance and increased asset maintenance cost (KPIs)
High site business interruption & property damage exposure
Asset contingency plans are focused on product quality and EH&S while excluding business interruption exposure
Maintenance driven operation in lieu of operations driven maintenance approach
Asset maintenance strategy is predominantly time based, compliance-based or corrective rather asset
Performance-based, or condition-based
Deficient Management of Change process
Lack of formal process for management of third-party recommendations
Investment in high-tech solutions and limited assessment of displayed, collected data
High staff & contractor turnover

AM&R with TÜV SÜD GRC

For over 60 years, TÜV SÜD Global Risk Consultants (GRC) has been providing unbundled property loss prevention services to the market, offering a complete portfolio on in-house, site specific services and risk management solutions to educate clients. This service history has allowed TÜV SÜD GRC to understand and differentiate between traditional insurance risk programs and link the client balance between cost opportunity and risk, while realizing value from the assets.

TÜV SÜD GRC offers a corporate, top-down systematic approach for evaluation of the Asset Management system in place - a.k.a. Asset Management and Reliability Process Troubleshooting.

Gap analysis of the current AM&R program and standards (corporate level)
Asset management processes for critical tangible and intangible assets and the interaction between the parties involved (plant level)
Supporting metrics
Organizational design
Information systems
Corporate culture

Expertise to Meet Your Needs

TÜV SÜD GRC has the art and science, experienced, cross-industry, multi disciplinary engineers, who can cross the fact-finding with process troubleshooting and loss prevention, business interruption (BI) with asset management and reliability, keeping in mind that the “Asset management involves the balancing of costs, opportunities and risks against the desired performance of assets to achieve an organization’s objectives.”