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Statistically, at least 85% of all reliability, asset utilization, and high life cycle cost problems are directly attributable to deficiencies in or total lack of enforced configuration management.
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Despite their focus on the reliance and reliability of "assets", there was clear recognition that they didn't take care of their own stress.
Bob Dudley, the oil firm's chief executive, said he was pleased with the results: "BP delivered strong operating performance throughout 2013, with increased asset reliability and major project delivery in both our upstream and downstream businesses.
The main functions of the system include asset reliability analysis, failure analysis and maintenance benefit cost analysis.
The responsibilities or duties that the function provides include developing a criterion for effective maintenance management and improving asset reliability.
They enable manufacturers to continuously monitor and predict asset reliability so that maintenance activities can be scheduled with the least impact on production.
The primary reason for establishing a maintenance engineering function is to provide focus on asset reliability, maintainability, and life cycle cost for the entire facility.
Condition monitoring is of increasing interest within network rail as a suitable method for increasing asset reliability and improving the PPI metric.
The company is currently in the process of modifying its design and capital projects methods to help ensure maximum asset reliability and utilization, lowest life-cycle cost, and lowest unit cost of production.
A key reason for attempting this is to capture the compounding effects of interdependencies due to degrading asset reliability (for instance due to aging), different asset management strategies (including condition monitoring and automation options), and staff resource constraints when performing maintenance and repairs.
"Reliability is a great asset for collaboration.
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