Stork: Asset Management Policy and Strategy - Offshore Technology | Oil and Gas News and Market Analysis
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Stork: Asset Management Policy and Strategy

The ultimate goal of a (private) company is creating value and generating profit in a short and longterm perspective. The way in which asset management contributes to the overall business objectives must be made explicit to the shareholders and to other stakeholders.

There is a strong link between asset management goals and financial indicators such as EVA (economic value added) and/or ROCE (return on capital employed). The assets' output and the total cost of ownership directly influence a company's turnover, profit and capital employed. In industrial companies, six main asset management goals can be distinguished:

  • Asset - output: generating the correct number of 'conform' and 'quality' products at the right time. In many industrial companies, asset output is expressed by OEE (overall equipment effectiveness
  • Asset - input: management of input losses and optimisation: energy losses, (raw) materials, labour / overhead (e.g. extra activities due to limited function of the asset)
  • Asset integrity and compliance: - meet the requirements for safety, health and environment; comply with (internal and external) rules and legislation
  • Asset lifetime: achieve the required lifespan of the assets
  • Costs: achieve above requirements at optimal cost in the short and long term (in the perspective of lifecycle cost and risk management)
  • Innovation and improvement: continuous improvement of assets and asset management

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