Improving Asset Measurement and Performance with Industry-Leading Guidance
Defining industry guidance for managing Total Cost of Ownership (TCO) in asset lifecycles
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A key part of the Nuclear Decommissioning Authority’s (NDA) success as one of Europe's largest nuclear decommissioning and remediation programs relies on measuring and optimizing asset performance. Balancing asset risk, cost and performance in a consistent way at each stage of their lifecycles, “interoperability", is fundamental to being able to optimise decisions across any organisation. Ensuring this happens for all new and existing assets, such as facilities, machinery and equipment helps ensure assets perform as required to deliver the mission.
For the NDA to fulfil this need, best lifecycle practices were identified, defined in the NDA’s operational context and are being rolled out across the whole estate to ensure the asset, people and information requirements are widely understood and managed.
Jacobs, PA Consulting, the NDA and an estate-wide working group developed guidance for managing Throughput, Reliability, Availability, Maintainability (TRAM) and Total Cost of Ownership (TCO) over the asset lifecycles. This guidance incorporated established good practice from cross-industry experience to support effective asset management and provide accepted and pragmatic guidelines for the NDA to leverage beyond the capital investment or project delivery phase of any new or refurbished assets. This pragmatic approach supports decision-making at all levels to ensure that all our investments deliver value across their entire lifecycles.
The outcomes of this approach go far beyond establishing how to effectively manage TCO in asset lifecycles. It provides industry-leading best practice in improving asset measurement and optimization and has sustainability and future information standards built in. All operating company sponsors have accepted it, and it’s now being adopted within a range of different phases of the asset lifecycle, for example, sanctions, design, pre-operations and commissioning through operational life into decommissioning informing process improvements.
“Implementing this guidance across the NDA will fundamentally change how all aspects of assets are considered as they move through their lifecycle and inform the associated decisions, giving us all confidence that the assets will perform as required.”