Category: Asset Management

Date: 01/03/2024

Subject: There’s more to Asset Master Data Governance (AMDG) than most people think, and can only be achieved with a disciplined and  quality-based Management of Change (AMOC) regimen.

Audience: LinkedIn

Topic: Asset Management of Change (AMOC) is a specialised process that focuses on changes related to physical assets within an organisation.

Below are just some of the components of a good AMOC process…..

➡️ Asset Identification: Clearly identify the assets and components that will be affected by the proposed change. 

➡️ Establish & Agree an Approval Process: Approval may be granted to designated individuals or committees depending on the magnitude of the change & risks. An established enterprise Delegations policy & workflow procedure is necessary.

➡️ Risk Assessment & Regulatory Compliance: Conduct a thorough risk assessment to understand the potential impact on asset performance, reliability, safety, environmental and regulatory compliance. 

➡️ Engineering & Logistics Evaluation: Assess the technical feasibility and compatibility of the proposed change with existing assets & supply logistics. 

➡️ Maintenance and Reliability: Assess the impact on asset maintenance requirements, reliability, & lifecycle costs. Consider factors such as equipment availability, maintenance schedules, spare parts availability, & asset performance metrics.

➡️ Operational Impact Assessment: Evaluate the potential impact (downtime) on asset operations, production processes, & workflow efficiency. 

➡️ Change Implementation Plan: Develop a detailed plan to manage the change effectively - it should include well defined roles & responsibilities, communications, a data and document quality dashboard, milestones, timelines, budgets, and resources.

➡️ Training & Competency Assessment: Provide training and support to personnel involved in implementing & operating the changed assets, ensuring necessary skills, knowledge, & competencies.

➡️ Commissioning & Validation: Define performance criteria for commissioning & validation activities to ensure that the assets operate safely, reliably, and efficiently.

➡️ Documentation & Records: Maintain documentation of the change process, including design specifications, technical drawings, permits, approvals, and other relevant records. 

➡️ Asset Lifecycle Updates: Update Unified NameSpace data and automate updates to asset warranty data, maintenance strategies, parts & sourcing data, inventory, budget, costing methods, & related systems (GIS, OMS, Reporting, etc). 

➡️ Monitoring & Continuous Improvement: Monitor the performance of the changed assets over time & identify opportunities for optimisation & extensibility.

For more detailed information on this capability and our Enterprise level Unified NameSpace, contact Diriger or read our Insight Paper at: A Single Source of Truth Leaves No Asset Data Behind