Webcast will discuss identifying, managing critical assets

Although most reliability management processes are based on managing critical assets, many organizations fail to fully understand the meaning behind the criticality ranking. Most reliability specialists will tell you that the "critical" assets have the greatest impact on production.

Managing with this mindset, they often overlook the single characteristic that makes each asset "critical" and greater opportunities to mitigate asset-related risks.

Through proper construction of the criticality analysis model, reliability and maintenance leaders will be able to illustrate what reliability enhancements must be made to manage criticality, thus improving their ability to manage assets by criticality. Plant Engineering will look at strategies to help address this issue at its Webcast, "Managing Assets Using Criticality," which will be on Thursday, Nov. 6 at 2 p.m. EDT, (1 p.m. CDT). The Webcast, sponsored by Mobil Industrial Lubricants, will feature Darrin Wikoff, a partner at Eruditio LLC and an author and thought leader in the maintenance and reliability community.

This webcast will focus on the construction of a risk-based criticality analysis model. The model will create visibility of production impacts, as well as risks to environmental and safety performance, maintenance costs and the allocation of precious capital resources. With a clear understanding of how to construct your analysis model, we will expand our thinking towards the development of asset management plans aimed at mitigating the predominant characteristics that make each asset significant.

Participants will receive a straw model for risk-based criticality analysis, along with a self-assessment maturity model that can be used to evaluate asset management practices and their ability to manage asset-related risks.

Webcast participants will be eligible to receive continuing education credits upon successful completion of a post-Webcast examination.

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