Close management of assets is essential to maintain safety, regulatory compliance and productivity, and balancing this imperative against potential cost is a constant challenge.
TWI works with companies to provide risk-based approaches and toolsets to help optimise the asset integrity management process, using our class-leading expertise and decades of experience to advise and implement cost-effective asset integrity management strategies.
We help asset managers to take a through-life-cycle perspective of their assets, and support run-inspect-repair-replace decision making. Our approach to risk-based asset management entails taking a holistic view of the asset as a system, and calculating life cycle costs by analysing long-term trends.
Ecological costs are increasingly required to be considered in weighing different options and in operating plant and machinery in an environmentally efficient way. TWI supports life-cycle assessments in order to help asset managers explicitly consider environmental factors in their decision making.
Our member companies receive support including:
- Risk analysis considering the likelihood and the consequence of failure
- System analysis using standard tools such as FMEA, FMECA, FTA and ETA
- Developing probabilistic models
- Risk-informed spares inventory planning
- Optimisation of risk-based inspection
For more information on our asset integrity management services, visit our risk-based inspection, pipeline integrity management and fitness for service pages or email email@example.com.