02AssetManagement_QualityControl-PT1 – Click To Download PDF
ASSET MANAGEMENT & QUALITY CONTROL – PART 1
By Albert K. Fletcher
CEO & PM Consultant
Dataman System Consultancy
Introduction
Asset management and its associated maintenance activities are fundamental drivers of organizational success. The productivity of all fixed assets and facilities depends on the effectiveness of activities related to Asset Maintenance, Management, and Quality Control. These activities significantly influence total production costs, while asset-management performance directly impacts the capital invested in income-producing plants.
“The strategic importance of asset management requires establishing an Asset Management Model that ensures an asset’s full lifecycle — from acquisition to disposal — is managed efficiently and effectively.”
Such a model defines the principles, strategies, and priorities that guide proactive maintenance management. It serves as both a framework for developing improvement strategies and a reference for creating business processes aligned with maintenance requirements.
Purpose
Within the context of Asanko, the purpose of Asset Maintenance Management is to:
“Ensure planned performance and integrity of an income-producing plant at the lowest practical life-cycle cost (LCC).”
A proactive maintenance approach is therefore defined as:
“The combination of all technical and administrative functions intended to RETAIN an asset or component, or RESTORE it to a state in which it can perform its required function.”
Rationale
Achieving the purpose of Asset Management contributes to long-term viability and economic success in several critical areas:
Safety
Maintaining asset and facility conditions prevents hazardous situations, ensures a safe working environment, and corrects deterioration before it becomes dangerous.
Environment
Proper facility integrity helps prevent environmental harm, optimizes emission-reduction systems, and ensures that structures designed to control environmental risks do not fail.
RONA (Return on Net Assets)
Effective equipment performance and maintenance activities ensure productivity levels meet business plan targets while minimizing capital and operating expenditures.
Stability
Sustained facility conditions reduce operational disruptions, equipment failures, and unplanned events.
Predictability
Accurate planning and forecasting of maintenance activities support reliable business planning, cost control, and stable plant performance.
Operational Life
Maintaining assets in optimal condition ensures maximum economic operating life and supports long-term sustainability.
Approach
Asset management operates on the principle of continuous improvement.
Activities are planned, executed, measured, analyzed, and then improved in a repeating cycle.
Where practical and cost-effective, organizations should prioritize proactive, planned maintenance strategies to prevent equipment failure or reduce its consequences.
Preferred Hierarchy of Maintenance Strategies
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Design out failure mechanisms.
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Monitor equipment condition or performance to detect early deterioration and repair before failure.
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Repair or replace equipment at a defined point in its expected service life.
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Implement redundancy or standby systems to minimize the impact of failure.
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Operate equipment to failure only when appropriate.
