Life Cycle Asset Management Program Development

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Lack of an effective asset management plan creates a reactive environment that reduces reliability and increases risk. To help you maximize return on your capital asset investments and minimize your total cost of ownership, Life Cycle Engineering, Inc. (LCE) can facilitate the creation and implementation of a comprehensive Life Cycle Asset Management (LCAM) program. The program will provide a standardized process and procedures that will govern acquisition, utilization and maintenance of capital assets, as well as identify and manage potential risks. 

Scope of Services:

• Asset management strategic plan that provides a plan, schedule, budget and business case for moving forward with a viable LCAM process
  
• Long-term asset planning including prioritization of capital projects and forecasting of capital costs over a 10 to 15 year period
  
• Standard processes and procedures to create, implement and maintain a comprehensive LCAM program that manages risk throughout the entire lifecycle of assets

Approach:

The LCE Consultant will:

• Facilitate the development of a shared vision of an asset management strategy. The consultant will bring company stakeholders together to create a common understanding of asset management, reach consensus on business objectives and prepare an implementation plan.
  
• Assess your current asset management activities and make recommendations for improvement
  
• Create a structured plan, schedule and business case for improving your asset management capabilities
  
• Facilitate a long-term asset planning process will include:
  – Prioritizing capital projects over a five to 10 year period based on strategic objectives
  – Forecasting capital renewal, replacement and expansion costs over a 10 to 15 year period
  – Forecasting infrastructure funding requirements based on long-term revenue and cost
• Guide cross-functional teams within your organization to create standard processes and procedures needed to create, implement and maintain a comprehensive LCAM management program

Deliverables:

• Asset management strategic plan
• Long-term asset plan
  
• Standard process that governs the life cycle of assets from conceptual design through decommissioning and disposal
  
• Standard procedure that governs the creation of task-specific standard procedures for each step in the life cycle of assets
  
• Key Performance Indicators that can be used to measure the LCAM program’s effectiveness

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For More Information on Life Cycle Asset Management Program Development

843.744.7110 | info@LCE.com