Development of Asset Life Cycle Management System in Process Plant

• Main Author: Mohd Jeffri bin Mat Amin, Mohd Jeffri
• Format: Final Year Project
• Language: English
• Published: Universiti Teknologi Petronas 2010
• Subjects: TP Chemical technology
• Online Access: http://utpedia.utp.edu.my/1371/1/MOHD_JEFFRI_MAT_AMIN_8094_.pdf; http://utpedia.utp.edu.my/1371/

Managing engineering assets can be a challenging task and optimizing the assets usage is very critical. To ensure the assets is effectively manage and utilize, one have to make effective decision regarding the asset life cycle. The asset life cycle management refers to the effective management system monitoring the performance of the assets throughout their life cycle or “cradle-to-grave” ideology, which mean that the monitoring phase is to be done at beginning stage of purchasing the asset until its retirement time. The objective of this project is to develop the asset life cycle management system suitable to be implemented in processing plant with respect to their condition and environment. For this purpose, the author has identify and analyses a few model including those available in the literature as well as the models that already being implemented in other industries. The information obtained through studies and analyses has been squeeze and manipulate in order to come out with the technical framework of the asset life cycle management system in process plant. The framework developed involving five simple steps and suitable to be implemented with respect to the plant condition and environment. This project also focuses on selection of suitable maintenance strategies to be implemented for the specific equipment in order to have optimum strategies that are safe and cost effective. The outcome of this project would help the decision makers in the process plant to effectively monitoring the assets performance and effectiveness through the system developed.