When an organisation has many demands competing for limited asset management resources, it must allocate such resources in a way that will have the most impact on its core mission while minimising business continuity risk. Logically, resources should go to managing those assets that are most important to the strategy and operations of the organisation. In reality, however, most business managers lack a disciplined, data-driven approach for setting management and investment priorities. The difficulty in attempting to align funding/management attention with higher priority assets is that the often qualitative concept of 'important' must be quantified.
KTT provides all the tools required to facilitate an effective asset prioritization to help determine where to focus your efforts. Our experts do the calculations to assess the risk and consequences of failure to determine the assets that should be tackled first for reliability improvement.
KTT captures operational, safety, and environmental consequences associated with each of your assets; evaluates them against a customer-configurable weighting function and determines its Relative Risk value.
We can help you to determine which assets should be tackled first to achieve maximum return on your reliability initiative.
Contact us today to find out how Asset proritize service can support for reliability improvement