We’ve detected that you are using an outdated browser. This will prevent you from accessing certain features. Update browser

Oil and Gas services

Asset Performance Management Health Check

Rising OPEX. Tougher commercial pressures. Growing regulation. Ageing assets. Industry, including the energy sector, increasingly relies on asset management to operate efficiently.

Digital collage with close up of an eye and digital icons

But often elements of a good strategy are handled separately in practice, making the big picture fragmented. When you get all the right experts together in one place, the gaps become clearer to strengthen capabilities. 

Asset management provides a structured, cost-effective way to operate and maintain high-risk, capital-intensive assets used across industrial sectors – from oil and gas to the petrochemical, refinery, manufacturing, nuclear energy and utility business. It can also play a critical role in enhancing the health and safety of personnel and protecting the environment. A sound strategy covers everything that helps you manage your assets. That is the asset itself, the equipment, systems, tools, processes and procedures around it, and the competencies of an organisation’s workforce. Keeping on top of all of that can be challenging because who has the full view? And what is the benchmark?

Clarity to be more enterprising

The same way as you would conduct a health check on your car or have a medical health check on yourself, upstream and downstream operations can benefit from an Asset Performance Management Health Check can help you balance cost, risk and opportunities.

The value in bringing together your asset and asset integrity managers, maintenance managers and engineers shouldn’t be underestimated. Our survey is based on the guidance of the Institute of Asset Managers (IAM), using a method that measures capabilities against relevant international standards (clauses and sub-clauses of BSI PAS 55:2008 and ISO 55001).

By answering a series of robust questions, your organisation’s current strengths and weaknesses become much clearer. You gain quantified empirical evidence; that is being able to see the gaps and deficiencies, but also areas of excellence. This work is complementary to, and supports, certification to BSI PAS 55:2008 and ISO 55001.

The main deliverables are flow charts of asset performance. Output or insight of information gathered is scored and displayed in the form of radar plots.

Knowing what to aim for

Assessing your organisation’s asset management systems against a recognised scale is extremely valuable. It provides a baseline and benchmark to build action plans, road maps to implement system improvement programmes and, importantly, to keep track of the results. Planning and budgeting are also made easier, focusing on the most critical elements to avoid unplanned maintenance and costly shutdowns.

APM Health Check scores against 28 elements of BSI PAS 55

APM Health Check scores against 28 elements of BSI PAS 55And against 27 elements of ISO 55001

And against 27 elements of ISO 55001

Want to find out more about the workshop?

INSIGHTS

What we think

LR's experts regularly share their research and insights.

Can't find what you are looking for?

Hit enter or the arrow to search Hit enter to search

Search icon

Are you looking for?