Asset Criticality Development

Improving asset management and reliability requires determining the criticality of assets and asset groups. A formal criticality analysis helps you prioritize work effectively, manage risk appropriately, and base reliability improvements on objective data.

To help you improve the impact of your reliability improvement, Life Cycle Engineering (LCE) can perform a complete asset criticality assessment for a predetermined number of assets, based on asset management best practices. The deliverable is a detailed listing of all assets in the scope with assigned criticality. This prioritized list will provide the means to understand and manage asset-centric risk. 

Scope of Services:

  • Definition of criteria for assessing asset criticality
  • Collection of background information and data
  • Training of team involved in performing the assessment
  • Criticality assessment and listing 

Approach:

The LCE Subject Matter Expert will:

  • Work with you to determine the specific scope of assets to be included
  • Define the plant-specific criteria that will be used to analyze each asset, including a wide range of business attributes such as mission impact, customer impact, environmental health and safety, and ability to isolate/recover from single point failures
  • Collect background information and data (including nameplate information, inventory and hierarchy, equipment lists, OEM manuals) to support the determination of asset criticality
  • Assemble and train a team of your employees who will be involved in performing the criticality assessment
  • Perform the criticality assessment
  • Develop a criticality listing and submit it to you for feedback and final approval
  • Submit final report with criticality list for upload into your database

Deliverables:

  • Detailed, prioritized list of all assets in scope with assigned criticality