Asset Lifecycle Management


Asset Lifecycle Management




We develop and implement planned actions that will enable the assets to provide the desired levels of service in a sustainable way, while managing risk, at the lowest lifecycle cost (e.g., through preventative action). We set out the main policies, practices and actions that are taken to minimize the lifecycle cost of the assets. This covers both operational activity and capital expenditures. You can expect to find:

A. The asset lifecycle

Facility lifecycle
Asset lifecycle

B. Acquiring new assets

Procurement methods
Commissioning

C. Operating & maintaining assets

Introduction
Type of maintenance:
Preventive Maintenance (PM)
Predictive Maintenance (PdM).

D. Renewing assets

Introduction
Capital projects

E. Upgrading & Enhancing Assets

Adaptation
Upgrades

F. Retiring assets

Asset Mothballing
Asset Rationalization
Decommissioning
Disposal
Salvage value