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Understanding the GAP with Asset Management

It is inevitable that decisions about upgrades, decommissioning, replacements, and strategy adjustments will need to be made throughout an asset’s life cycle. There are multiple factors that must be considered within this decision-making process, but sometimes, owners and operators do not have access to the knowledge or data required to ensure the correct outcome is achieved.

Managing Ageing Infrastructure 

Future demands on the assets can have a significant affect on the original operating context. These demands can be driven from various external sources be it political, environmental or even legal requirements as well as immediate production demands driven from expansions or even decommissioning.  

With ageing infrastructure, the environment plays a significant factor into the failure modes and mechanisms assets experience. In order to provide a regulated and proactive approach that will produce the necessary information and key data insights to support any future decisions, it is essential to have the correct management strategy in place. Asset management can aid owners and operators of assets in assuring integrity, maximised performance, and legal and safety compliance over the course of an asset’s lifetime by controlling the risks connected to the critical infrastructure.

First Steps for Asset Success

Asset Management covers a range of service option that can be used to help clients affirm the safety and reliability of their operations, whether it is through Operational Maintenance Decision Making, Life Cycle Delivery, Risk and Review or Strategy and Planning. The first step to ensuring you are making the most out of your asset is understanding the gap in knowledge and or data that exists within your company and then taking a proactive approach to seek support that can help you overcome and close these gaps to mitigate risk and failure in the future.

The Asset Management consultancy group at Penspen work hand in hand with our other service lines; engineering, project management and asset Integrity to provide comprehensive solutions for our clients to ensure that they are making the most of their assets.

For more information on how we can support you in managing your assets now and in the future, get in touch with one of our asset management experts below.

Get in touch with our Asset Management team

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