Benefits of Adopting Asset Management Practices

During the last several months, Access Water has featured a series of blogs to highlight key findings from a McGraw-Hill Construction study of asset management practices of US and Canadian utilities. CH2M HILL’s sponsorship of the study is one way we are helping expand industry knowledge on 14 leading asset management practices understanding. Utilities and organizations can use this knowledge and incorporate best practices to increase the reliability of their plants, equipment and other infrastructure, while also generating additional revenue and substantial financial savings. This is the final post in the series.

Sustainability and Asset Management

In the latest post in our ongoing asset management series after the release of the McGraw-Hill Construction study, CH2M HILL experts discuss the critical connection between asset management and sustainability. While asset management is often thought to be focused narrowly on efficient maintenance, repair, rehabilitation and replacement of assets, asset management is also about doing so with consideration of social and environmental, as well as financial, benefits and costs.

Adopting Maintenance Optimization Practices

In the latest post in our Access Water asset management best practices series, CH2M HILL's Jim Oldach and Sam Paske discuss reliability centered maintenance (RCM) programs. Based on the research we conducted with McGraw-Hill Construction, we found more advanced practices, for example RCM, to be less widely adopted than other practices, even though—in the experience of many of our clients— application of these practices can increase the reliability of plants, equipment and other infrastructure, while generating substantial financial savings.

Condition Assessment Vital to Effective Asset Management Program

Condition assessments provide valuable information for estimating the risk that an asset will fail and the consequences if it does. In the latest of our series of posts about asset management best practices, Jeff Sanford discusses the benefits of detailed condition assessments, and how CH2M HILL is working with our clients to take the information from those assessments to create fact-based maintenance and capital improvement strategies.

Building the Culture – Developing Staff and Stakeholder Buy-In for Asset Management

One key to successfully implementing asset management is creating buy-in among staff and stakeholders, referred to as “building the culture.” Implementation of an asset management program and processes often requires a major shift in an organization’s ways of doing business, which can create considerable discomfort and resistance. Because asset management stresses efficiency and minimizing life cycle costs, staff are often concerned that asset management threatens their jobs. Engineers, operators, and maintenance staff are often skeptical of the framework because application of good asset management strategies occasionally results in running some assets to failure. Many have been taught that asset reliability is the ultimate goal and should never be compromised. Another common reaction to the implementation of an asset management program is that it’s “just another flavor of the day”, and will come and go. All of these reactions are natural, but make implementation of an asset management program a challenge. Developing strategies to address these concerns, educate staff about the benefits of asset management to them, and getting them actively involved in implementation is critical to building a successful program.