The future of Engineering Asset Management strategy is to move your company to the new Operating Asset Wellness Paradigm. This paradigm guarantees a operating asset’s wellness and health all its service lifetime
Maintenance will be a thing of the past, because plant and equipment will be designed and operated to stay healthy and well. Equipment failures will be eradicated by design, and with proactive life cycle asset wellness practices that eliminate all causes of parts failure
Slide 7 – The Future of Physical Asset Management is Proactive, Life-Cycle Failure Elimination Guaranteeing Operating Asset Health and Wellness
You can see in the above slide the progression of maintenance paradigms. It seems over about a 40-year to 50-year period a more effective maintenance strategy develops and becomes universal. The next progression is to an operating asset wellness paradigm.
When commercial flying started, breakdown maintenance, where repair is done after failure, was supplemented with preventive maintenance, where parts that will break are replaced before breakdown can occur. The introduction of equipment condition monitoring technologies in the 1970s to monitor aircraft equipment health ushered in predictive maintenance, where component degradation is observed and maintenance is done only when it is required.
The next progression in maintenance strategy is to one where maintenance is replaced with a lifetime asset wellness strategy that eliminates the need for maintenance. Operating assets will be so reliable they never fail during their entire service lifetime.
The enterprise asset management strategies of the future will apply a holistic, life-cycle-long, operating asset wellness paradigm to ensure assets have lifetime reliability. To go from the old maintenance paradigms to an operating asset wellness paradigm requires proactive failure elimination that guarantees complete reliability. The operating asset wellness paradigm will ensure lifetime reliability is totally certain.
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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