Facts:

• Delivering Design Functional Asset Value Is essential for Sustainable operations
• 65% of Megaprojects fails to meet stated functional deliverables and have cost and schedule overruns of >25%.
• Cost overrun and underestimation of projects have not decreased over the past 70years.

Decisions made on the designer’s desk, the construction and commissioning offices can have huge ramifications of the operate and maintain costs over the lifecycle of the asset.  It is a fact that about 80% of cumulative asset lifecycle costs are incurred during the operate and maintain phase.  It is therefore crucial that assets be designed, simulated and constructed for reliability and maintainability.

Managing the performance and reliability of an asset is critical. Optimizing processes for day to day running of the assets, we can minimize operations costs and maximize production capability, usually through minimizing downtime and reliably running to peak performance when required. This helps drive profitability of the facility.   So, why is a vetted maintenance plan generally an afterthought in most projects?

Goals of the presentation

• Learn how involving operations and maintenance in the design phase can reduce or eliminate failure modes that can be costly once in operation.
• Understand how Dynamically managing analytical margins is essential for whole life asset management.
• Understand how overruns and asset functionality loss or information systems devoid of leading functional data characteristics negatively affect the long-term energy costs of facilities, plants, and infrastructure.
• Gain an understanding of the need and role of a sole source of truth and progressive assurance for engineering and asset information.
• Appreciate how an interoperable connected data environment can be used as a reference point from which data can be compared against to make stronger and timely decisions for their critical assets.