Applied health and risk assessment on a large asset base

Abstract

The subject addressed is digitalization of asset performance management for a large asset base. This was done by implementing a tool for health and risk assessment, using only existing digitized information from available systems. The objective was to ensure uniform asset management decision making and to enable the line of sight in the decision making process according to the framework of ISO55000. The total time spent developing the tool was one year, and the tool is currently in operation. Results are used in asset management decision making, for instance monitoring of risk exposure and assessing maintenance needs.