From 5th to 7th Jan 2015 I conducted a workshop on Asset Centered Management at Hyderabad.
Asset Centered Management is about maintaining and managing complex system.
Research shows that billions of dollars are invested on plant maintenance and operation. For example in the US alone $300 billion is spent on plant maintenance. Of this as much as 80% of this amount goes to correct failures of machines, systems and people.
With machines and systems becoming increasingly complex this problem can only worsen. Hence there is a clear and pressing need to establish alternative asset management program that incorporates diverse considerations essential to continue productive capacity of a complex system.
Elimination of chronic failures along with reduction of failure rate is perhaps the only option to manage complex systems, preserve equipment function, sustain productivity, enhance organizational performance of different functions, avoid risks and consequences of failures, sustain quality, reduce carbon footprint and optimize cost.
These are precisely the goals of Asset Centered Management that is centered around study of systemic failures of equipment and organization.