Asset Management is the latest addition to the portfolio of services offered by TWI to its Industrial Member companies.
This is a dynamic process that goes beyond just improvement in quality. It aims to improve the whole management system. More cost and safety benefits accrue from management improvement than any other single area.
As well as considering the operational aspects, asset management deals with three fundamental elements of any business. These are the social, moral and financial aspects. By using this approach, not only are the engineering problems confronted but also the context in which they exist.
The process typically involves the following steps
- Risk analysis
- Analysis of failures
Later in the year a Best Practice Guide called Practical Asset Management - a policy and strategy guide will be available here on the corporate website, TWI's online resource for industry.