Physical Asset Management Handbook

Defines a "best way" of managing corporate physical assets

Physical Asset Management defines a "best way" of managing corporate physical assets to gain greatest return. It blends the best processes, practice and technology used effectively by industry leaders to assure highest effectiveness in your specific business, operating, organizational and material conditions. The purpose of Physical Asset Management is to ensure that the means of production/operation are available to meet mission, availability, yield, schedule, quality, and cost commitments effectively at optimum return.

Physical Asset Management, Fourth Edition, is a major update and expansion – more than 100 pages – of the valuable material contained in the acclaimed third edition. John Mitchell and editor John Hickman have crafted their experience-based contributions, and those of ten leading practitioners of Physical Asset Management, into a top-to-bottom description of the processes, practices, technology, implementation, and results attainable with Physical Asset Management in a highly practical, experience oriented, results directed format.

Physical Asset Management consists of a mix of processes, systems, practices, and technologies strategically implemented to achieve a specific mission and/or objectives. It considers market, business, and operating conditions; related opportunities; and site-specific conditions and requirements. The Physical Asset Management strategy addresses issues as diverse as safety, environmental compliance, reliability, operating efficiency, maintenance costs, work and spare parts management. All of these elements are fully examined and analyzed in this major new work.

The book addresses financial requirements, including conservation of capital. It illustrates how generic processes and technology can be assembled to provide maximum results for a given mission, business, and set of operating conditions. "Soft" issues—such as culture, organization, communication, ownership, compensation, and training—are addressed as integral elements that are vital to the success of Physical Asset Management.

New material includes a chapter on lifecycle cost analysis, contributed by a noted expert in the field; individual chapters on change management, leadership and organization and greatly expanded information on metrics; work and stores management; TPM, RCM and RCA. There are two new chapters describing experience implementing programs and a third chapter describing the program of an industry leader that has been updated from the previous edition. The definitive chapters on data and information, condition assessment technology, fluid and electrical analysis from the third edition have been updated and expanded. The chapters on identifying improvement opportunities, program development and implementation are also greatly expanded with detailed ideas for justification and implementation for maximum results. Three comprehensive scorecards for evaluating the scope and effectiveness of Reliability, Vibration and Lubrication programs are included to provide a sound basis for auditing existing programs as well as assuring complete coverage for a new program.

· Overview and Benefits of Physical Asset Managemenhysical Asset Management defines a "best way" of managing corporate physical assets to gain greatest return. It blends the best processes, practice and technology used effectively by industry leaders to assure highest effectiveness in your specific business, operating, organizational and material conditions. The purpose of Physical Asset Management is to ensure that the means of production/operation are available to meet mission, availability, yield, schedule, quality, and cost commitments effectively at optimum return.

This definitive handbook provides a practical "how to" for executives, managers, and team members charged with gaining maximum productivity and effectiveness from physical systems and equipment in response to stated mission/business/operating imperatives.

Physical Asset Management, Fourth Edition, is a major update and expansion – more than 100 pages – of the valuable material contained in the acclaimed third edition. John Mitchell and editor John Hickman have crafted their experience-based contributions, and those of ten leading practitioners of Physical Asset Management, into a top-to-bottom description of the processes, practices, technology, implementation, and results attainable with Physical Asset Management in a highly practical, experience oriented, results directed format.

Physical Asset Management consists of a mix of processes, systems, practices, and technologies strategically implemented to achieve a specific mission and/or objectives. It considers market, business, and operating conditions; related opportunities; and site-specific conditions and requirements. The Physical Asset Management strategy addresses issues as diverse as safety, environmental compliance, reliability, operating efficiency, maintenance costs, work and spare parts management. All of these elements are fully examined and analyzed in this major new work.

The book addresses financial requirements, including conservation of capital. It illustrates how generic processes and technology can be assembled to provide maximum results for a given mission, business, and set of operating conditions. "Soft" issues—such as culture, organization, communication, ownership, compensation, and training—are addressed as integral elements that are vital to the success of Physical Asset Management.

New material includes a chapter on lifecycle cost analysis, contributed by a noted expert in the field; individual chapters on change management, leadership and organization and greatly expanded information on metrics; work and stores management; TPM, RCM and RCA. There are two new chapters describing experience implementing programs and a third chapter describing the program of an industry leader that has been updated from the previous edition. The definitive chapters on data and information, condition assessment technology, fluid and electrical analysis from the third edition have been updated and expanded. The chapters on identifying improvement opportunities, program development and implementation are also greatly expanded with detailed ideas for justification and implementation for maximum results. Three comprehensive scorecards for evaluating the scope and effectiveness of Reliability, Vibration and Lubrication programs are included to provide a sound basis for auditing existing programs as well as assuring complete coverage for a new program.

CONTENTS

· Scorecards
· Program Necessity, Evolution and Characteristics

· Physical Asset Optimization Foundation Principles

· Major Program Elements

· Current Best Practices

· Implementing Asset Management Within the Power Generating Industry

· Financial Results

· Life Cycle Cost Analysis

· Metrics and Benchmarking

· Program Leadership, Values and Organization

· Evolution of Asset Management at Eastman Chemical Company

· Data and Information

· Excellence at the Basics

· Condition Assessment Technology And Systems

· Fundamentals of Fluid Analysis for Industrial Machinery

· Electrical Analysis: Static (Off-Line) and Dynamic (On-Line)

· Managing the Improvement Process

· Implementing a Physical Asset Optimization Program

· Establishing a Successful Asset Management Program at a Global Pharmaceutical Company

· Physical Asset Optimization For Capital Projects

· Industry Best Practices, Results, Issues, Challenges and Lessons

· Glossary

· References

· Practical Aspects of Implementing a Physical Asset Optimization Program

· Practical Thoughts Regarding RCM Implementation

· Scorecards

Related Titles

• Est$Pro 4.0 »
• Electrical Safety for Industrial Facilities Series: Part 05 »
• Practical Machinery Management for Process Plants, Vol. 1: Improving Machinery Reliability »
• HPI Construction Boxscore – 2006 »
• A Practical Guide to Compressor Technology »
• Gas Processes 2004 »