12 July 2018
Spending an extra quid on a light bulb can make all the difference in significantly de-risking a business, says WYG Director Steven Little. On 5th July, he spoke at a TotalDECOM supply chain event about the benefits of applying asset reliability techniques. The event, jointly sponsored by WYG and the Centre of Nuclear Excellence, was hosted by University of Chester at its Thornton Science Park in Cheshire.
TotalDECOM is a strategic decommissioning hub that hosts events each year for the global decommissioning industries to help shape the way operators and the supply chain do business. It encourages collaboration and cross-fertilisation of knowledge, innovation, and skills across all sectors faced with a decommissioning responsibility – from nuclear, oil & gas, and pharmaceuticals, to renewables, defence, and more.
Speaking before 70 delegates, Steven emphasised asset reliability techniques as a crucial component of effective asset management that could pre-empt risks of considerable damage to a firm’s finances and reputation. Oftentimes, those techniques come down to something as trivial as buying spare batteries or de-mineralised water.
Steven said: “Let’s say you have a fuel depot, where there’s a big risk of fires because of all the diesel and aviation fuel. Its firefighting system needs to be ready to go at a moment’s notice. It has to be kept pressurised to deliver enough water to the hydrant to satisfy statutory requirements.”
“If you lose power to the site, you need a backup generator, but if your batteries aren’t powered up enough, the generator won’t kick in when the power goes off. If you spent the pound on maintaining the integrity of your batteries, you’ll be able to put the fire out.”
Even a mere lightbulb can mitigate a catastrophe. Water drainage systems, for example, have oil interceptors to avoid contaminating the sea, with alarms designed to flash when hydrocarbons are detected. A broken lightbulb, however, could lead to consequences easily avoided by simply buying that spare and adding a test button.
The key, then, to successful asset management is understanding that the devil is in the details. In fact, asset reliability comprises an essential chapter of the configuration management guidance document that Steven has led for the Institute of Asset Management (IAM).
He added: “Asset management is as important in the decommissioning phase of an asset as it is in the operational phase. Asset management is applied to the context - it doesn’t matter where you’re at in an asset’s life cycle, because that asset will still be required to give some sort of functionality and if it doesn’t provide that, it puts you at risk. Once removed, the asset management just stops and everyone moves on.”
At WYG, Steven is leading our asset management team in helping our clients maximise revenue and protect themselves from incurring contract penalties, statutory penalties, loss of reputation, and more. As a Fellow of the Royal Institution of Chartered Surveyors and a Member of the IAM, he has 20 years’ experience of delivering asset management strategies.
Craig Hatch, Managing Director of Surveying and Asset Management at WYG, also said: “Best practice asset management consultancy is a strategic service we have developed to support our blue-chip clients. We have invested in our people to broaden our capability within our team.”
“We are also happy to help develop the supply chain as much as possible and share innovation. Supporting this activity in Thornton Science Park, a leading research establishment for energy systems, is an important part of that and we look forward to attending future TotalDECOM events.”
To learn more about TotalDECOM, visit their website.