Master class programme 2010

The importance, collection and collation of data and crucially its appropriate use

• Understanding current asset condition, current performance levels and how these are affecting the organisations ability to meet corporate objectives
• Analysing the performance indicators - asset reliability, asset condition, performance, costs and retained risk
• Making the connection between what we know and how this helps us to deliver what the business needs
• Filling the gaps to the point necessary to make effective decisions.

Toby Mills, Managing Director, Lockheed Martin UK - Simulation training and support

Future scenario creation

• What are you expecting your assets to deliver under probable/possible circumstances?
• The way in which any scenario can be used to define forward strategy and planning
• Consideration of ‘soft’ factors i.e. the environment, brand value, the economic climate
• The consideration of a ‘lost opportunity cost’

Kate Almond, Principal Consultant, Weather Intelligence

10:50

Are condition and performance always directly linked?

• Discussing the assumption that good condition always equals good performance and responding accordingly to your business situation
• Overall objective delivery and risk management - poor condition assets may be capable of performing at the required level with suitable care provided they fall within acceptable risk levels
• Predicting asset degradation curves and how these translate into asset performance and risk
  
  

Jamie Stemp, Consultant, Manex (UK) Ltd.

Workshop A close and lunch for full day delegates

Registration and refreshments

Constructing an improvement programme

• Whole life cost and the justification for the replacement/ improvement of an asset and the means of achieving this
• Managing the balance between Capex and Opex and the optimum approach for the business taking a whole life asset management approach
• Developing the optimum investment programme to meet the needs of the business considering factors such as risk, funding requirements, resources, innovation and business performance

Ron Hewson, Senior Consultant, ABB Global Consulting

Recognising asset criticality and risk

• Understanding the risks such as business operating risks and the criticality of an asset to the success of the business
• Quantifying risk including consideration of low probability/high impact risks and high probability/low impact risks
• Factoring in potential multiple occurrences in an asset family, and different criticalities depending on the application of the asset concerned
• Linking your asset risks to the corporate risks
• Risk appetite – anticipating and allowing for the level of risk the organisation prepared to accept?

Mike Robertson, Director, Risk Solutions

14:50

Refreshments

The building blocks of an investment argument – the business case

• Formulating and presenting a business case highlighting an engineering issue using sound financial terminology
• Putting across a business benefits case for investment in industrial technology including net present value (NPV) to analyse the profitability of an investment or project
• Distinguishing between maintenance CAPEX to sustain existing operational levels and investment made to drive future growth

Martin Sedgwick, Head of Asset Management, Scottish Power

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