Asset Management is a rapidly evolving field, with constant innovations to improve asset management and optimise financial performance. Key components of Asset Management are property management, property and investment management and, of course, property maintenance.
Innovations in the world of Asset Management
Some of the innovations within Asset Management that will be discussed during Maintenance NEXT 2023 include Reliability Centered Maintenance (RCM), Failure Mode, Effects, and Criticality Analysis (FMECA) and Value Driven Maintenance (VDM).
Reliability Centered Maintenance
RCM is a systematic approach to maintenance aimed at minimising the likelihood of failures in equipment and systems. It is based on identifying equipment functions and determining the impact of failures on operations. By using this data, RCM can help develop maintenance strategies that extend equipment life and reduce maintenance costs.
Failure Mode Effects and Criticality Analysis
FMECA is a method for analysing the risks of failures in equipment and systems. It considers the possible causes and effects of failures and the impact on operations. FMECA can help identify the most critical parts of equipment and develop maintenance strategies to prevent or minimise failures.
Value Driven Maintenance
VDM is a methodology aimed at maximising the value of assets through effective maintenance and asset management. It takes into account the cost of maintenance, property value and operations to determine which maintenance activities deliver the most value. By applying VDM, companies can better understand how to optimise their maintenance budgets to extend equipment life and reduce maintenance costs.
In short, innovations such as RCM, FMECA and VDM can help improve asset performance and maximise their value. By applying these methods, companies can carry out more effective and efficient asset management and achieve their financial goals. Want to know more about Asset Management in the Maintenance sector? Then register now for Maintenance NEXT 2023 using the button below: