Case Study Library - Subject - Life Cycle Delivery

 

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Asset Creation and Acquisition encompasses activities during the planning, acquisition, design, supply, change management, manufacturing, installation, and commissioning of assets and related systems as well as the transition through the stages of the asset life cycle.

 

Systems Engineering is an interdisciplinary, collaborative approach to derive, evolve, and verify a whole life cycle balanced system solution which satisfies stakeholder expectations and meets organizational outcomes and targets. Systems Engineering enables an assurance function and considers holistic requirements with consideration for technical system and sub-system level, and associated interoperability.

 

The reliability of an asset or system is its ability to perform and operate as intended for its projected life cycle, in a specific environment or under certain conditions.

Integrated Reliability is a holistic collection of policies, principles, processes, and systems used to deliver, monitor, and improve reliability, Asset Management and life cycle delivery activities towards a system or asset. It is an approach that applies engineering principles and techniques to identify and mitigate potential failure modes, minimize downtime, and optimize performance throughout the whole life cycle.

 

Asset Operations encompasses the policies, processes, procedures used by an organization to operate their assets and achieve Asset Management strategic objectives.

 

Maintenance Delivery encompasses the management of maintenance work activities for tangible and intangible assets throughout their intended life cycle. This subject also considers the importance of asset data and information record keeping within the maintenance environment, and the periodic review of how asset maintenance strategies should be periodically reviewed and updated to reflect an asset’s useful life and its criticality.

 

Incident Management and Response is a structured approach for addressing incidents in a systematic manner, guided by the severity, risk or criticality of the incident. This a comprehensive approach that encompasses the entire incident life cycle, encompassing the stages of incident identification, escalation, reporting, response, investigation, remediation, and data gathering. This framework may draw upon pre-established contingency plans and resilience analysis documents. Its primary objectives are to safeguard the well-being of individuals, both on-site and in the broader community, ensure an effective response to protect the environment, to preserve assets, and to uphold the reputation of the organization.

 

Asset Repurposing or Disposal involves the processes used by an organization to decommission, retire, repurpose, reclaim, and dispose of assets. This could be due to deterioration, technology improvements, obsolescence, or changes in performance, legal, regulatory and/or capacity requirements.

 

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