Enterprise Asset Management
Enterprise Asset Management introduction
Effective asset management provides a clear view of the asset data set, allowing for advanced data analytics and empowering businesses with real-time, advanced visibility into the functioning and capacity of assets.
Utilising EAM solutions that allow organisations to better understand and manage their assets allows for sustainable growth and drives added value – while reducing loss of time and revenue due to oversight and manual errors. With effective EAM solutions, businesses are able to gain a more in-depth understanding of their operational functioning and can start to identify and reassess problem areas in their operational space. This shifts the organisation from a reactive space, where problems are being reacted to as they occur, to a predictive space, where foresight is achieved beforehand and effective planning and problem management is implemented to prevent the problem from ever arising.
Features
Implementing and Improving a Management System for Asset Management.
Our work is consistent with ISO 55000 as well as leading frameworks of the Global Forum for Maintenance Management (GFMAM) and the Institute of Asset Management (IAM).
While many organisations have established good practices for asset management, they have found that asset management does not exist in isolation and they need more than just ISO 55000 compliance to achieve real value and drive operational efficiency. The interdisciplinary nature of asset management also requires an enterprise-wide, integrated systems approach.
Implementing our services commence with asset maturity assessments that help the organisation to develop asset management policy and strategy and an ongoing programme of improvement. To integrate all departments and disciplines, coordinate their thinking, resources, processes and activities to deliver optimal value from assets in a systemic manner.
Technology
Our services include Bar Coded Asset solutions including the creation of asset registers, the implementation of asset management systems, tagging and verification of assets, asset counts and audits.
Radio Frequency Identification (RFID) is a technology that allows automatic identification of objects, animals or people by incorporating a small electronic chip on its “host”. Data is stored on this chip and can then be “read” by wireless devices, called RFID readers asset counts, verifications and audits.
Training
GT Advisory provides training in Asset Management. We maintain a suite of course material and also welcome enquiries regarding customising or expanding this to meet your unique training needs. Each attendee will be formally assessed to measure successful achievement of the competency. This assessment will be based on formal testing as well as practical experience. Participants who successfully demonstrate competence in this course will be issued a certificate of completion. These courses provide the competencies required for successful implementation of best Asset Management practices, as embodied in ISO 55000 (and previously in PAS 55).
Valuations
Our team of accredited valuers have extensive valuation experience across all industry sectors.
Our valuers perform valuations of plant and machinery as well as heritage assets to ensure full compliance with accounting standards (IPSAS, GRAP, IFRS) for financial reporting.
Implementing EAM systems
Whether you are implementing Enterprise Resource Planning systems such as SAP or Enterprise Asset Management systems such as Maximo, or simply running your own spreadsheets, at GT Advisory we remain system agnostic. This allows us to support our client’s IT and Engineering teams to ensure that they have designed the requisite Information Data and Quality Standards that they need to select appropriate software solutions. Our experienced team of IT and AM Specialists will assist you with mapping the systems landscape, designing technical specifications for software selection and designing business processes to ISO 55000 standards.
Case Studies
Asset Management Turn-Around Strategy
Case study: Enterprise Asset Management
Key industry: Healthcare
Client: Western Cape Department of Health
Project: Asset Management Turn-Around Strategy
Through this project we institutionalised asset management at the Academic Hospitals of Tygerberg, Groote Schuur and Red Cross Children Memorial, by:
Establishing asset management units within hospitals, training them on EAM practices;
Developing policies and standard operating procedures to support effective lifecycle management of assets.
Establishing uniform standards of nomenclature for asset identification and componentisation (UMDNS).
People and culture – braking down silo’s between asset management staff, finance departments and medical practitioners, for them to understand the importance of good asset management on patient outcomes and service delivery.
Establishing asset registers so that they know what they have, where they are and in what condition these assets are.
The implementation of the SYSPRO EAM software as well as barcode scanning technologies as enabling tools.
Fair value of assets.
Training for financial accounting and disclosure of assets.
