Remote asset management for reducing life cycle costs (LCC), risks and enhancing asset performance

Abstract

Remote asset management are faced with additional challenges in monitoring conditions, coordinating logistics for maintenance crew, transport and spare parts for maintenance delivery and asset replacements. Recent trends in technologies, remote performance monitoring and risk-based decision making in Capital Expenditure (CAPEX) and Operations and Maintenance Expenditure (OPEX) decisions for asset management are being embraced by asset intensive industries around the world, where critical assets are located in geographically distributed remote areas or difficult to inspect and maintain locations. Industries are also pushing boundaries by reducing crew size, deferring capital expenditure and overhauling and decision making in inspection and in some cases relaxing Original Equipment Manufacturers (OEM) recommended maintenance schedules. This paper discusses some of the issues and challenges with remote asset management. Illustrative example from heavy haul rail is used to explain reduction in Life Cycle Costs (LCC) and further enhancing operational performance.E