Workshop Date: Tuesday, April 25, 2023
Title: Optimizing Your Assets: How to Maintain Asset Reliability in a Tough Market
About the Workshop
Economic headwinds will drive the speed of transformation in the sector, and innovation will help tech companies create and capture future growth opportunities. Business executives indicated that they are looking at decoupling their supply chain, including nearshoring and reshoring. This will require significant investments over the next few years, inevitably leading to substantial cost increases. These additional costs cannot deter companies. They need:
- Support by regulation and sponsored by governments providing funding and tax breaks
- To identify customers willing to pay a premium to reduce their dependency on geopolitically unstable geographies.
- To invest in edge ecosystem to improve operations and experiences
- Cyber, cyber, cyber…ensure data and asset protection
- To drive an agile talent strategy to match resources with company needs
- To prioritize environmental sustainability
- To double down on localization, even if it comes at a cost
- To experiment with platform ecosystems to disrupt the market
Energy sector companies rely on Industrial control systems (ICS) to generate, transmit, and distribute power and to drill, produce, refine, and transport oil and natural gas. Given the wide variety of ICS assets, such as programmable logic controllers and intelligent electronic devices, that provide command and control information on operational technology (OT) networks, it is essential to protect these devices to maintain the continuity of operations.
These assets must be monitored and managed to reduce the risk of a cyber-attack on ICS-networked environments. An accurate OT asset inventory is critical to an overall cybersecurity strategy. To remain fully operational, energy sector entities should be able to identify, control, and monitor their OT assets effectively.
This workshop will show you how to adopt OpEx without compromising asset integrity. Attend and learn how to:
- Equip your team with the innovation intelligence needed to take decisive action
- Develop a framework approach to establishing an asset management and reliability program
- Applying Operational Excellence tools to enhance asset reliability and performance
- Upgrade, alter, and improve assets to maximize production at a lower cost
- Pros and Cons of Asset and Liability Management
- Implement comprehensive asset analytics to maximize return on assets
- Build a culture of reliability through governance
- Leverage the right processes, roles, and responsibilities to enable effective decision making
Who Can Attend?
This course is designed primarily for Regulated industries decision-makers: Manufacturing, Energy, Oil and Gas, Agriculture, Mining, Transportation, Logistics, HHS, and Government.
Participants that will benefit from this course include anyone accountable for making
Quality key decisions: Executives, Directors, Senior Managers, and those responsible for distributed teams, supply, service delivery, and projects across regions.
Benefits of Attending
In tough economic times, we must pay critical attention to maximizing the utilization of all Assets and the information and data available to support quality decisions in near real-time. To help this approach, we will discuss (interactively) the following:
- Techniques for accurate location detection to track assets and drive asset sustainability
- Optimizing Asset Tracking System's location data to ensure asset location and status confidence. Increase cost savings by eliminating equipment loss
- Understanding the benefits of predictive maintenance systems and mobile real-time notifications
- Utilizing analyzed dependability data to support necessary decisions; data can be exploited when identifying development targets and defining actions to be carried out.
- Developing and maintaining Asset Management Maturity Program and Asset lifecycles
- Risk-based maintenance management vs. reliability-centered maintenance (RCM)
- Moving from reactive maintenance to reliability-centered maintenance
- Knowing when an asset is idle or in use with real-time asset tracking. Leverage technologies for seamless asset tracking systems to speed up locating and allocating the resource
- Information Systems for Life Cycle Reliability Data
- Integrating IT systems for modern Asset life cycle data management systems for plant data management, master data management, and maintenance data management for reliability and risk evaluation
- Reviewing a comprehensive system of KPIs for asset performance, maintenance, and replacement
- Mitigating long lead times for the replacement of critical production and infrastructure equipment
- Underutilization or overutilization of the company's Computerized Maintenance Management System (CMMS)
- Asset Management and Reliability Process Troubleshooting
- Underdeveloped "change management" processes
- Mitigating high rates of turnover in company personnel and third-party contractors.
- Mitigating poor asset performance, maintenance performance, or high or escalating costs of asset maintenance or operational downtime, as measured by established KPIs
- Enable adequate tracking of asset performance, maintenance performance, and costs compared to established KPIs
- Maintenance planning drives operations planning rather than vice-versa
- Avoiding high investment in hi-tech solutions to address asset management issues without collection and thorough analysis of applicable data
Key topics - Optimizing Your Assets
Organization's inability to react to market demands and changes in near real-time – enabling flexibility, adaptability
9:00 – 10:30 Session one
- Gap/alignment analysis between standards established for asset management and reliability initiatives and performance of your current asset management and reliability program.
- Review and analysis of asset management and reliability metrics (KPIs).
- Review of site-specific asset management and reliability strategies currently in place for critical assets, including preventative maintenance programs, condition monitoring programs, and human capital
10:30 – 10:45 - Networking Break
10:45 – 12:30 - Session two
- Review of inventory of, and access to, critical assets and replacement parts for them
- Fact-finding site surveys to identify "gap patterns," process failures, and process deficiencies
- Review of change management, root cause analysis, and "lessons learned" processes
- Identification of AM&R improvement opportunities, including cost estimates and risk weighting based on assessments of the likelihood and possible severity of asset failures
- Strategic Asset Management for extracting value from production assets. A comprehensive, top-down approach to managing plant equipment and people for maximum profitability
12:30 – 1:30 - Lunch
1:30 – 3:00 - Session Three
- Mitigate risks resulting from a mismatch of assets and liabilities
- Getting the most from your current Ent Asset management software
- Asset Management Framework
- Establishing formal policies and plans: Define a governance regime and identify staff responsibilities.
- Maximizing an asset portfolio's value: Develop a policy to identify the value of assets and derive the most significant value.
- Maintaining leadership support: Articulate leadership support and provide necessary resources.
- Using quality data: Collect, analyze, and verify the accuracy of asset data.
- Promoting a collaborative organizational culture: Promote a culture of information sharing and enterprise-wide decision-making.
- Evaluating and improving asset management practices: Evaluate the performance of the asset management system and implement necessary improvements.
3:00 - End of Workshop