Jacob Gharbin-Mensah

I recently carried out a thesis on 2 projects, stimulation and modeling of the asset management process in the mining industry and an assessment of asset management in the mobile plant operation, and the findings were amazing. Now, let's dive into the topic above and how organizations can inculcate them into the business world. A strategic, sustainable asset and maintenance management process involves a long-term, data-driven approach to optimize asset lifespans, maximizing return on investment while addressing environmental, social, and governance (ESG) objectives. Here's a breakdown of key elements: 1. Strategic Planning & Asset Lifecycle Management: # Strategic Asset Management Plan (SAMP): This document links organizational objectives to asset management goals and outlines high-level, strategic actions to achieve those goals. # Asset Lifecycle Management: This involves overseeing an asset from acquisition to disposal, ensuring maximum value throughout its lifecycle. Key stages include; *Planning: Identifying needs and requirements for new or existing assets. *Acquisition: Procuring the necessary assets. *Operation: Ensuring assets are used effectively and safely. *Maintenance: Implementing proactive and reactive maintenance strategies to extend asset lifespan and minimize downtime. *Disposal: Planning for the responsible disposal or retirement of assets. *Asset Identification and Tagging: Ensuring assets are easily identifiable and linked to the overall asset plan and maintenance schedule. *Asset Prioritization: Assessing the criticality of assets to business operations to focus resources on the most important assets. *Condition Assessment: Regularly evaluating the physical condition of assets to inform maintenance and replacement decisions. *Asset Utilization: Ensuring assets are used effectively and efficiently and providing necessary information to workers and maintenance teams. 2. Sustainable Practices: ESG Considerations: Incorporating environmental, social, and governance factors into asset management decisions. *Upcycling and Recycling: Implementing programs to extend the lifespan of assets and reduce waste. *Responsible Disposal: Ensuring assets are disposed of in an environmentally responsible manner. *Environmental Friendliness: Utilizing environmentally friendly materials and processes throughout the asset lifecycle. *Energy Efficiency: Implementing measures to reduce energy consumption and improve asset performance. 3. Maintenance Management: Preventive Maintenance: Implementing regular maintenance activities to prevent failures and extend asset lifespan. Corrective Maintenance: Addressing issues that arise during asset operation to minimize downtime and repair costs. Predictive Maintenance: Using data and technology to predict potential failures and schedule maintenance proactively.

Scheduled maintenance on assets is crucial for businesses for several reasons: =>It extends asset lifespans by detecting minor defects, preserving machine capacity. =>Enhances safety by ensuring safety systems like fire alarms are functional, reducing risks. =>Reduces business interruption by preventing breakdowns that can disrupt operations. =>Increases efficiency by maintaining asset efficiency, avoiding resource drains. =>Improves budget management by saving money and preventing non-compliance penalties. =>Enhances asset performance through consistent checks, servicing, and repairs. =>Reduces parts inventory costs by minimizing repair and replacement expenses. =>Saves costs through proactive planning and coordination to avoid reactive emergency repairs. Neglecting maintenance can lead to asset deterioration, impacting performance and productivity. Unexpected breakdowns can result in unplanned downtime, causing production halts and emergency repairs. In a recent scenario, a new asset (mobile plant) underwent routine maintenance but experienced a breakdown shortly after being returned to production. Inspection revealed that all components touched during maintenance contributed to the breakdown. The incident highlights the importance of thorough and necessary scheduled maintenance to prevent such unexpected issues. My question is, do you think the scheduled maintenance on that asset was necessary or not ? What went wrong?