Asset Life-Cycle Requirements (ALR) – Sub Category 7.0
DISCOVER – What life-cycle data is required?
Identify the life-cycle data needed to manage assets effectively from acquisition through operation, maintenance, and disposal. Determine which stages require detailed tracking and governance to support decisions and compliance.
DEFINE – How will life-cycle stages be managed?
Outline procedures, responsibilities, and documentation requirements for each life-cycle stage and asset class so that acquisition, operation, renewal, and disposal are consistently recorded and controlled.
DESIGN – What systems manage life-cycle data?
Configure life-cycle management capabilities within the AMS/EAM and financial systems so that all key events, transactions, and status changes are captured and traceable across the asset life.
DEPLOY – How is life-cycle management used day-to-day?
Integrate life-cycle management into business processes, provide training, and embed update protocols so that life-cycle data is routinely maintained and used in planning, budgeting, and risk decisions.
6W1H Analysis
Asset Lifecycle Managers and Asset Accountants oversee life-cycle records held in central AMS and finance systems with secure backups. Data is updated at each significant event such as acquisition, maintenance, upgrade, and disposal. The purpose is to optimise utilisation, plan renewals, and meet regulatory and financial requirements. Tools include integrated tracking, reporting, and analytics. Costs cover systems, storage, and training, offset by improved optimisation, reduced surprises, and stronger compliance.
DISCOVER
Determine expected operational life for each asset based on OEM specifications, standards, and industry benchmarks.
DEFINE
Define “design life” for each asset class, including factors that extend or reduce life such as duty, environment, maintenance strategy, and upgrades.
DESIGN
Build a database to track and compare actual asset life against design life, capturing reasons for variance and key influencing factors.
DEPLOY
Use design life data to inform maintenance strategies, renewal planning, and investment decisions, updating assumptions as field data improves.
6W1H Analysis
Asset Managers and Lifecycle Analysts manage design life records within the AMS. Data is assessed through ongoing operation and formal health reviews. The purpose is to align strategies with realistic life expectations, optimise lifecycle cost, and schedule replacements. Effort and cost relate to data management tools and analysis time, repaid through better planning and reliability.
DISCOVER
Analyse historical performance and failure data to estimate typical life under normal operating and maintenance conditions.
DEFINE
Define “normal life” for each asset type using pooled operational data, adjusted for local operating context and quality of maintenance.
DESIGN
Develop operating and maintenance guidelines that support achieving or extending the estimated normal life of assets.
DEPLOY
Implement these guidelines, monitor their impact on life and reliability, and refine practices as new data and insights become available.
6W1H Analysis
Maintenance Planners and Operational Managers manage normal life assumptions in maintenance and operating procedures. Data is updated continuously as new performance information emerges. The purpose is to maximise useful life within normal conditions, stabilise lifecycle costs, and avoid premature failure. Costs are ongoing maintenance and optimisation effort, balanced by extended life and more reliable performance.
DISCOVER
Assess remaining useful life using current condition, performance trends, and failure history for important assets.
DEFINE
Define methodologies for calculating remaining life and associated cost, incorporating predictive maintenance data, risk, and real-time performance metrics.
DESIGN
Implement predictive analytics and condition monitoring systems that generate inputs for remaining life and cost forecasts.
DEPLOY
Regularly update remaining life and cost estimates to guide maintenance, renewal timing, and capital planning decisions.
6W1H Analysis
Reliability Engineers and Financial Analysts jointly manage remaining life models in maintenance and financial planning tools. Reviews are completed periodically and whenever condition or performance changes materially. The purpose is to optimise timing of maintenance and replacement, avoid sudden failures, and smooth capital demand. Investment is needed in monitoring technologies and analytics, with payback through reduced downtime and better-planned expenditure.