Great Engineering Asset Life-Cycle Management Allows No Defects and Operational Service Risks at Every Life Cycle Stage

Every physical asset goes through a life cycle beginning with its conception and ending at its disposal. In every phase of the life-cycle numerous errors and mistakes can occur that leave defects within the asset to eventually cause breakdowns, losses and wastes during operation

To get world class operation and profits your Asset Life-Cycle Management System must prevent every opportunity for defect-creation in all phases of every engineering asset life-cycle

 

Slide 4 – Every Phase of An Engineering Asset Life-Cycle Has Hundreds of Opportunities to Create Defects That Become Operating Breakdowns, Losses and Wastes

the engineering asset life-cycle consists of sequential phases beginning with idea creation, then progressing through feasibility, preliminary design, budget approval, the detailed engineering design, procurement of engineering assets, construction and installation, commissioning and handover, operation of the assets, their decommissioning, and final disposal

The engineering asset life-cycle is shown in the slide above. It is divided into a sequence of 11 phases or stages. The life-cycle forms a series process where one phase leads to the next phase until the entire life cycle is complete.

Starting with the idea creation stage that triggers the use of an engineering asset, the life-cycle then moves to project feasibility to confirm the idea’s viability, followed by a preliminary design for budgeting estimates, it next goes for budget financial approval to undertake the project, after which the detailed engineering design is performed, out of which the engineering assets for procurement are selected, then installed during construction, commissioned and prepared for start-up, handed over to operation to begin production, and in time they are decommissioned and disposed of.

Most of the life-cycle is spent in the operating phase where the engineering assets are used. The operational phase is when profits are made to pay for the project costs and the asset’s eventual disposal. The project phases total a few months for small projects. In very large projects the scope-of-work can take three to four years to complete before handover to Operations.

The engineering asset life-cycle varies depending on what the use of the asset, and the size of the market for its output. It may be a short duration if the product being provided has a short market life. It can extend for decades when the product produced is used in a market that will exist for several decades. Some products can sell for over a century and require regular replacement and modernization of the engineering assets used in their production.

Because the engineering asset life-cycle is a series process, every error made in any phase is transferred through to the operating stage. Every phase of the life-cycle contains thousands of opportunities to make mistakes. The errors sit within the engineering assets as defects. When in operation they can turn into breakdowns. If the defects are found and corrected before the asset enters operation, then no harm is carried forward into the future. However, if the defects remain they each cause operational risks during service lifetime. On a seemingly random basis there will be production equipment stoppages, and in mobile fleets, vehicles will break down.

An error prevented or corrected is a defect eliminated. It is a key purpose of a Plant Wellness Way EAM system-of-reliability to ensure companies use engineering asset life-cycle management that prevents errors and mistakes at every phase of the life-cycle. Plant Wellness Way EAM uses error-prevention and defect elimination throughout all stages of every engineering asset life cycle.

 

This slide is a companion to the new Industrial and Manufacturing Wellness book. The book has extensive information, all the necessary templates, and useful examples of how to design and build your own Plant Wellness Way enterprise asset life cycle management system-of-reliability. Get the book from its publisher, Industrial Press, and Amazon Books.

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