Welcome to The Bog, where you’ll find our thoughts on topics including asset management, decision analysis, mineral exploration & development, and other matters relevant to our community. Muskeg is a form of mossy wetland found in the Canadian boreal forest, which is home to Picea mariana, the Black Spruce. In North America this tree ranges from Newfoundland and Labrador in the East up to Alaska in the …
The Why of Real Asset Management
Back in November 2014, Fiona Macelli, the instructional designer for the City of Calgary’s Corporate Project and Asset Management Centre, posted a link to a TED talk on her scoop.it blog. It is very pleasing to see that other asset management professionals in Western Canada have taken notice of Simon Sinek’s Start With Why. We believe this concept is fundamental to asset management, …
Using Risk to Compare Different Asset Types
How do you decide if you should put the money from your community into your swimming pool or into your roads? Into motors or pumps? All assets have one thing in common: they are there to provide a service. All assets also have a chance of failing to provide that service. That chance of failure (probability) and the impact from that …
Reducing risk of failure by replacing old equipment?
We all do it: look at something and say “it’s old—it’s time to be replaced.” In engineering and maintenance we talk about useful life: we base capital replacement plans on it, we base condition on life expectancy, and we view the reliability of our assets through age-coloured glasses. The question is: where do these concepts come from? In many cases useful or expected …
Successful Implementation of Electronic Asset Management System
If you are considering installing an Asset Management System, a Computerized Maintenance Management System, or a similar software system, this figure might scare you off: 60-80% of asset management systems fail on implementation. But here are four essential points of focus we recommend to help ensure that your implementation is successful: We all know that scope is critical for project success and an implementation of an asset …