Asset Integrity and Cost Optimisation (Repair or Replace)

July 19, 2021

Bluefield Asset Management Specialists applied a combination of our asset integrity and Life Cycle Modelling techniques to help a client optimise its costs by avoiding costly and unnecessary repairs.

Problem

Our client had significant fixed plant assets which were also about to undergo a potential brownfield project.

The project team needed to understand what was the best cost option in terms of maintaining current assets and replacing them when the brownfield project was implemented.

Solution

Bluefield produced life cycle cost models and applied Equivalent Unit Cost (EUC) to analyse the options.

The analysis enabled us to visualise the best options for repair or replacement and apply this to minimise the lifetime costs of the entire fixed assets on the site.

The Results

There were several assets where the site was better off to replace rather than repair. 

Our analysis also identified several areas for improvement of asset life cycle knowledge and Bluefield was selected to assist the site to implement ongoing robust asset integrity and life cycle cost management approach.

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