Asset management policy
Minimization of the service life cycle cost is achieved for the key Assets in system by implementing the concept of Asset Management policy (AMP).In order to classify equipment and integrated assets based on type, risk or critical service applications AMPis implemented in any system.
LA is offering services to clients with a vision to provide customized comprehensive asset management solutions and sharing best practices on asset management issues as experienced by our clients.
Our Asset Management Policy (AMP) is focused on, how electrical utilities and industries should manage their assets and investment in electrical distribution and transmission networks. This help us to set realistic targets and achieve strategic goals in AMP.
Substation Asset Risk Assessment is necessary to fully implement condition and risk-based asset management strategies in line with AMP latest standard PAS 55.
Benefit of Asset Management Policy (AMP)
- Identifying the best timing to replace a critical assets & avoids equipment failure by providing early detection of degradation.
- Assist management to formulate a structured maintenance plan according to available resources and budget constrain.
- Analyze the life cycle of critical equipment & assess the risk for keeping an asset till end of life cycle
- Increases the asset availability by reducing the probability of failure to near zero by reducing significantly emergency repair cost related to reactive maintenance.
- Minimizes the inventory cost keeping unnecessary spare parts and allowing risk management based inventory stock.
- Implement a continuous improvement in future equipment specifications and application to maximize asset utilization based on continuous monitoring of performance and failure experiences.