How to successfully manage critical assets – part 1

Part 1: Recurring difficulties & good practices

In the presence of critical assets, an organization will be required to manage its facilities with particular precision and will therefore be well advised to elevate inspection strategies to the center of its attention. It is important to remember that inspection strategies not only ensure the reliable operation of assets, but also compliance with safety standards and regulations. In this context, inspection is able to pave the way for the achievement of organizational goals and the mitigation of risk factors – particularly with respect to human factors and environmental consequences.

If we look at the common problems related to inspection strategies in different industries around the world, the key issue is the effective management of facilities:

• How to make the best use of resources?
• How to prioritize the inspection?
• What elements (tools and human resources) are essential?

In 2020, the OECD analyzed how different sectors and countries were managing inspections of critical industrial assets, in order to share the knowledge gathered with the world. The project revealed the following good practices:

• Conduct inspections where they are most needed; focus specifically on the worst performing activity and conduct a thorough analysis.
• Opt for risk-based inspection (RBI) and support your inspectors with appropriate tools, such as inspection software for digitized assessment forms, inspection reports, analysis of historical and current data (including risk, hazard, safety status, and past maintenance) for best practice assessment and inspection strategy planning adequate.
• Provide quality training to your inspectors.
• Work closely with your inspectors throughout the implementation of inspection strategies and digital tools for better decision making in this regard.
• Set up performance indicators to ensure regular monitoring of asset performance. This approach will allow to anticipate potential risks and to adapt the inspection strategy (notably by integrating new innovative technologies).
• Ensure that the inspection frequency remains flexible enough to accommodate temporary internal and/or external changes.

In the second part of this article, we will take a closer look at the IT tools that have proven to be the most widely used and beneficial to industries around the world.

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