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Plant Asset Management

6 November 03:45 p.m. - 05:15 p.m.

Session Type: Paper

Track: Asset Lifecycle Management and Optimization/Strategy

Paths(s): ManagementManagement   ExecutiveExecutive   

Effective asset performance management can enable significant improvements in plant performance and safety. In this paper session, industry experts will introduce the new ISO55000 Asset Management Standard, discuss the use of asset management solutions to obtain meaningful data, and provide techniques for using this data to drive performance enhancing decisions.


Future ISO55000 Standard - Why Should I Care?


Over the past several years, there have been a series of asset failures that not only put companies in the media but erased a significant shareholder value. These questions were asked: What could have been done differently? Do we need a standard for Asset Management System? In 2002, the Institute of Asset Management released PAS55 – Publically Available Specification that become a de-facto voluntary standard. Recently ISO formed a PC251 to develop a new Asset Management Standard – ISO55000. This presentation shows a short history of this standard development, its future and possible impact on industry. It answers the question: why should I care?

Asset Performance Management: A Key Strategy for Success

Paula Hollywood, ARC Read Bio

Paula has over 30 years experience in marketing and sales of industrial field instruments that utilize a vast array of technologies including magnetic, coriolis, radar, electrochemistry, capacitance, and ultrasonic.

Paula's focus areas include Field Devices (Flow, Level, and Pressure), Process Analytical Chemistry, Intelligent Pumping Systems, and Laboratory Information Management Systems. As a member of ARC's Asset Lifecycle Management team, Paula also covers reliability and authored a Worldwide Outlook report on the asset reliability market.

Prior to ARC, Paula spent 14 years at The Foxboro Company in various capacities including two years in the Delaware field sales office in both inside and outside sales roles. She spent seven years with Kentrol, Inc., a manufacturer's representative company, as an inside sales rep where she was primarily responsible for sizing and selection of field devices including control valves and flow meters. At Kentrol she was also a member of the Quality Improvement Team. Prior to joining ARC, Paula was level product manager at Krohne America, Inc. for four years where her responsibilities included product technical support and directing US sales and marketing activities for all level products.

Paula has a BS from Northeastern University and an MS from the University of Massachusetts Boston.


Unplanned downtime is a cost and safety issue that can’t be ignored.  In North America, unscheduled shutdowns account for two to five percent of production in process plants, a big hit to the bottom line.  To compete in global markets, it is essential for manufacturers to improve asset availability, efficiency, flexibility, and responsiveness, without sacrificing safety and consistent product quality.  How can manufacturers better manage their assets to be more efficient, available, safe, and reliable?  Today’s asset performance management (APM) solutions provide actionable information that operating personnel can use to significantly improve plant performance and safety. 

The Five Requirements to Maximize the Benefits from Live Industrial Data

Steve Wise, InfinityQS International Read Bio
Steve joined the InfinityQS team in 1996 and focuses on ensuring proper use of statistical techniques within the software offerings and application in the customer base. He helps companies from all industry segments implement real-time Statistical Process Control (SPC) and advanced statistical tools. He is also responsible for software calculation validation and helps with the technical aspects of demonstrating the software to potential customers. Steve received his BS in Industrial Statistics from the University of Tennessee and began his career as an industrial statistician at Honeywell Aerospace (formerly AlliedSignal Aerospace) and the Boeing Airplane Company. While at Boeing, he co-authored an industry standard, "D1-9000 Advanced Quality System (1991)", for Boeing Suppliers as well as co-authoring the book Innovative Control Charting, published by ASQ Quality Press in 1997. Steve is also a Six Sigma Black Belt.


People that run manufacturing lines and their bosses that run the plant need to be in the know. Why? Because they want to make the best decisions: shop scheduling and planning, inventory levels, preventative maintenance, execute the best build sequences, minimize waste (rework and scrap), minimize unnecessary steps and produce high quality at an acceptable cost.
To achieve these goals, they are investing in data - lots of data. Data are flowing from places many people didn't even know existed. Well beyond piece counts, yields and overtime, the data available today are coming from imbedded sensors and programmable logic controllers (PLCs). Manufacturers and engineers want more data and machine tool makers are providing it. More data is more better, right? It can be, but…
Methods to manage data have not kept up with the supply. You see, we're good at asking for data and tool-makers are good providers, but how do you use that data to help manage your business? 
This presentation will explore this challenge from an industrial statistician's perspective. A statistician's passion is to discover, analyze and illustrate the right data that helps provide the best answer to those important decision-making questions. A data stream by itself may not be useful, but combined with other data may just shine the light on that illusive unknown. The techniques that will be shown will be easily understood by anyone with an aptitude for numbers. Software will be used to perform statistical computations so we can focus on how to use data intelligence to find golden nuggets on your manufacturing shop floor.