Find Out What Your Peers Are Thinking And Doing About Asset Management!

Strategic asset management across the
organization delivers a compelling return
Asset Management Thought Leadership Point of View Report
Findings from a worldwide benchmark study sponsored by Lawson Software.Strategic asset management across the organization delivers a compelling return
ContentsExecutive Summary ....................................................................2 Business Case.............................................................................4Corporate Social Responsibility Policy..................................4Asset Management & Financial Performance........................5Asset Management Policy .....................................................6Asset Maintenance Impact ....................................................7An Integrated Vision .................................................................10An Integrated Solution..............................................................11Initial Offers ...............................................................................12Next Steps.................................................................................12
"Significantly Reducing The
Cost And Risk Of Your Asset
Management Policy Execution
Using Scalable Integrated Not
Fragmented Solutions"
2Executive SummaryThis Thought Leadership Point of View report is Growing pressures have led to the advent and adoptiondesigned for business, financial, IT, asset management of new standards to influence policy frameworks. and maintenance executives, who have direct or indirect These encourage a more integrated approach to assetresponsibility for developing and implementing asset management, including integrated risk management.management policies and systems within their Examples of these frameworks include COSO Enterpriseorganizations. Risk Management Integrated Framework, originating fromthe USA, as well as the PAS 55 Asset Risk ManagementEffective asset management has a different meaning for Standard in Europe, which is influencing regulatordifferent people, businesses and industries: from behavior through PAS55 certification mandates. Someincreasing the 'return on capital investment or 'improved independent advisors are suggesting that assetequipment tagging and tracking' to 'more professional management certification will become as much of amaintenance'. Recognition of these widespread views has requirement as ISO 9000.led to the emergence of standards and best practices,especially as the volume, variety and complexity of assets Improved asset management efficiency based on thesethat need to be managed throughout the globe increases. integrated models will bring substantial direct costAs a result, attitudes and approaches to asset savings, as well as indirect savings through lowermanagement are continually evolving. insurance premiums and improved relationships withregulators or auditors as a consequence of reducing risk. Asset intensive organizations need to be focused onreducing the risk of equipment or plant failure whilst also Lawson is a world leader in integrated software solutionsincreasing the return on asset investment by maximizing for asset intensive organizations. Lawson regularlyasset availability and operational capacity. This balancing invests in activities to fully understand evolving marketact drives a more sophisticated means of managing and issues, and this input is used to guide solutionmaintaining assets. Many leading organizations have development. To understand the changing attitudes toadopted techniques such as Reliability Centered asset management and the value of IT solutions LawsonMaintenance [RCM], which allows them to compare the sponsored an independent worldwide benchmark studycost of failure with the cost of prevention to determine during winter 2006/2007, and the findings arethe optimum maintenance strategy for each of their summarized at key stages in this Point-of-View. critical assets. The study focused upon asset intensive industriesThere is a growing need for asset intensive organizations including utilities, mining, asset-reliant manufacturers suchto adopt best practices such as RCM in order to meet the as metals processors and transportation organizations. increasing requirements of stakeholders. Those who havesomething to gain from improved asset management nowextend far beyond the actual asset owner, operator ormaintainer. Society in general has become le... [download for more]