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Reliability & Risk Management with Ramco’s EAM

Most often best-in-class EAM/CMMS systems fail to make the crucial connect with real time assets condition and operations, focusing instead on conventional measures like number of outstanding Work Orders, task completion against standards and norms or MRO inventory costs. The need to improve asset reliability and boost asset uptime and availability are of utmost importance. The future is for Internet of Things (IoT) data driven organization.
The ultimate goal of an Asset Reliability Program is to maximize equipment life and minimize scheduled and unscheduled downtime; resulting in higher productivity at lower TCO. Managing assets needs to be a truly proactive approach, one that aligns the management of physical assets to the corporate objectives. This blog will present our approach to asset reliability and risk management that relies on the current resources you have in your plant operations: people, assets, capital, software, and some basic building blocks of any good maintenance organization.

Ramco EAM on Cloud is a fully integrated, feature rich solution that supports various types of maintenance strategies – corrective, preventive, condition and predictive maintenance. It is provided with interfaces for Real Time systems like SCADA/Telematics/RFID and other data capturing devices (e.g. handheld devices for condition monitoring). For Predictive Maintenance sensors embedded in equipment check for abnormal parameters, forwards to EAM system where work order gets triggered when safe operating limits are breached. It helps to optimize resource utilization and effectiveness as maintenance is only performed on assets when it is required, thus reducing the associated resources cost.

Added to this Ramco EAM is provided with inbuilt RCM from maintenance and sustenance perspective. It is provided with systematic process to identify risks that may impact the organization’s objectives, analyze their consequences and develop ongoing measures to treat them. Failure mode and effects analysis (FMEA) and Fault tree analysis (FTA) tools are available to capture failure codes for each asset and rate by Severity, Occurrence, Detection and Safety rating to calculate risk factor. Further to this, system helps to perform failure analysis to identify the root cause and helps to decide on the timely corrective and elimination measures. Availability, reliability, safety and other key performance metrics such as MTBF, MTTR etc. can be calculated automatically by the system and fed to reporting dashboards. Timely identification of high risk factor which has a high impact on overall functioning of asset helps to further improve preventive and predictive maintenance strategies. It helps to make smart decisions and optimize asset management processes with more reliable assets, mitigated risks, reduced cost and higher productivity.

The strategic importance of assets reliability and risk management has risen substantially and is expected to move at a faster pace in the future as compared to the past few decades. It is beginning to become more widely understood that asset reliability is a complex and specialist area. It can be a source of strategic advantages, but also one in which the implications of misjudgment can be extremely serious. We can’t deny the fact that this is a tough road to follow, but we at Ramco with our rich experience, strong asset management knowledge and in depth understanding of asset reliability processes can exploit the advantages in your favor.