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Benefits of Asset Value Management

September 28, 2020

Benefits of Asset Value Management

Asset management data is a useful tool that can indicate adverse system operational characteristics of a process and provide evidence of poor valve performance. This data can also highlight the need for spare valves in problem applications that can ultimately reduce the downtime during repair outages and installation costs.

Proper asset data records include correct location of valves, identification and records of past service and tracking of future maintenance dates. Valve overhaul data will show past overhaul data for future diagnostics, provide details of job performed, real time status of valves in repair and track parts that need to be replaced at next overhaul.

Services to improve operational efficiency:
  • Risk-Based Inspection (RBI) A risk assessment and management process that reduces risk by focusing inspection on the components that need more attention based on probability of failure and consequence of failure.
  • Root Cause Failure Analysis (RCFA) A maintenance troubleshooting method to logically identify the causes behind the PRV failure.
  • Failure Mode and Effects Analysis (FMEA) An analysis designed to recognize potential failures, evaluate the effects of potential failures in the process and identify the actions that could eliminate or reduce the chance of the potential failure occurring.
To reduce the costs of maintaining PRVs and the associated inspection and testing activities, many end users have found using spare PRVs as an effective strategy. Redundant valves are purchased mirroring the installed PRVs and then kept in storage ready for quick exchange when the installed PRV is removed from service. Using this strategy can allow PRVs to be prepared for installation well in advance of planned STO (Shutdowns, Turnarounds, and Outages) and minimize and simplify the work to be performed during the outage. Learn more about PRV Pool Programs.
Contact our Mechanical Service Specialists today for a quote:
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