By Joe Amadi-Echendu, Changela Hoohlo, Joe Mathew
Engineering asset administration encompasses all kinds of engineered resources together with equipped atmosphere, infrastructure, plant, apparatus, platforms and parts. Following the discharge of ISO 5500x set of criteria, the ninth WCEAM addresses the highly very important factor of what constitutes the physique of information in Engineering Asset administration. subject matters mentioned by means of Congress delegates are grouped right into a variety of tracks together with concepts for funding and divestment of resources, operations and upkeep of resources, tests of resources , possibility and vulnerability, applied sciences and platforms for administration of asset, criteria, schooling, education and certification. those court cases contain a pattern of the wide variety of subject matters provided throughout the ninth international Congress on Engineering Asset administration in Pretoria South Africa 28 – 31 October, 2014 and enhances different rising guides and criteria that embody the huge ranging concerns about the administration of engineered actual assets.
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More in detail, the scenarios that have been proposed by the company asset managers for comparative evaluations are the following: • Scenario A: the installation of a second machine of type E to be kept in stand-by with the already existing one; • Scenario B: the disposal of the mechanical transport machine N and its substitution with a pneumatic transport system; • Scenario C: The installation of three more screens in stand-by to the existing ones. After implementing the methodology for the as-is situation and the three alterative ones, the technical outputs in terms of OEE (that are showed in Table 3) have been used to make the economic evaluation by combining them with the related cost inputs.
Line operators labor cost 9. 1. 2. Spare parts cost 10. 1. 2. 3. 4. 5. Labor Savings END OF LIFE COSTS AND SAVINGS 11. ). All these aspects must be considered within a complete TCO model, hence it is necessary to evaluate and to quantify factors that allow predicting the form in which the production processes can lose their operational continuity due to events of accidental failures and to evaluate the impact in the costs that the failures cause in security, environment, operations and production [26, 36].
It is therefore imperative that risk management actions be understood at all levels of the ﬁrm . 6 Conclusion Amadi-Echendu et al.  noted that EAM is multi-disciplinary requiring skills from a multitude of disciplines including traditional engineering, information technology, economics and management. They noted the need for information systems to capture data to support decision making. We have shown that this requirement is of vital importance for the risk function too. “It is no longer sufﬁcient to consider asset management as simply the maintenance of an asset, but rather as a holistic approach to the management of asset, incorporating elements such as strategy, risk measurement, safety, environment and human factors” .