Asset Management Strategy

Developing and deploying an asset management strategy

GR Engineering's extensive service offering supports its ability to provide value adding asset management strategy services to its clients. GR Engineering has the expertise to manage assets from concept through to returnement, with the objective of achieving maximum asset performance and efficiency.

The objective of developing and implementing an asset management strategy is to guarantee maximum effectiveness of an asset by maintaining it efficiently to:

  • ensure smooth plant operation and minimise risk of unforeseen breakdown;
  • ensure availability of appropriate spares and materials;
  • enable detailed maintenance budget forecasting;
  • enable effective planning and scheduling of tasks and allocation of resources.

In the context of asset management, the lifecycle of an asset has five key phases:

  1. Concept - feasibility study/client specification
  2. Development - design and engineering
  3. Production - construction and commissioning
  4. Support - asset management strategy functional requirements
  5. Retirement - care, preservation, disposal

GR Engineering can develop and provide assistance in the development and implementation of core asset management requirements, and has the expertise to tailor components of the strategy to suit a client’s unique operational requirements.

Functional Gap Analysis

GR Engineering can carry out gap analysis between the actual functional performance of an operation’s current asset management strategy and its potential performance, providing the operator with insight to areas which may be improved. The process involves determining, assessing and documenting the variance between the operation’s asset management requirements and its current capabilities, with a view to developing and implementing improvement plans. The measure of an asset's effectiveness is its ability to achieve increased equipment availability and reduced lifecycle cost.