Asset management

25

Years of experience

Asset management

Our Services

Our asset management strategies ensure that the people, systems, processes and resources that enable an asset to deliver its function are in place over it`s life cycle, while simultaneously maintaining health, safety and environmental legislation. We apply asset managment practices to the entirety of an operation, from its design phase to its decommissioning and replacement. Our prudent asset management programs incorporates distinct aspects of equipment design, maintenance, inspection programs, and operational management practices. We help asset managers to take a thorough-life-cycle perspective of their assets, and support run-inspect-repair-replace decision making. Our approach to risk-based asset management entails taking a holistic view of the asset as a system, and calculating life cycle costs by analyzing long-term trends. Our multidisciplinary panel of safety management experts can effectively audit and optimize the existing safety configurations of your asset to ensure productivity, reliability and security.

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Risk Based Inspection (RBI)

Our Risk Based Inspection applies qualitative and quantitative assessment of the probability of failure and its consequence associated with each equipment and categorizes individual equipment by their risks. RBI provides the likelihood of failure due to flaws damage, deterioration or degradation with an assessment of the consequences of such failure. RBI has advantages such as definition and rating of risk levels of all components, identification of the potential to reduce production losses during turnaround inspection, maximization of resource utilization, improvement in operating efficiency and minimization of risks to health, safety and environment. The process of RBI is carried out rigorously so that inspection decisions are based on adequate information and expertise as well in accordance with international engineering standards such as API RP 580 and 581, ASME PCC-3, and RIMAP.

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  • Corrosion Loop Drawings
  • Inventory Group Designs
  • Inspection Strategies Documents
  • Integrity Operating Window
  • Asset Passport

Safety Integrity Level

Cornerstone uses Safety Integrity Level (SIL) as a tool for developing a comparative level of risk-reduction offered by a safety function to maintain or achieve the safety state. SIL provides a statistical measurement of how likely a process or a system is to be operational and ready to serve the function for which it is intended, including the calculated time to its likelihood of failure. The process of SIL has various advantages such as effective management of safety-critical equipment and prevention and mitigation of the consequences which can result in mishaps like loss of life, personnel injury, equipment damage or loss of production. Our uniquely designed SIL study services comply with international standards such as IEC-61508, IEC-61511 and ISA TR 84.00.02 to ensure the safe and reliable operation of the plant. An emphasis on quantitative risk reduction, life-cycle considerations, and general practices are at core of these standards

  • Safety Life Cycle Document
  • Safety Requirement Specifications (SRS)
  • Safety Integrity Level Verification
  • Safety Integrity Level Methodology
  • Safety Integrity Level Classification

Reliability-Centered Maintenance (RCM)

We optimize the maintenance strategy of our client’s assets through increasing the cost-effectiveness, reliability, machine uptime, and the understanding of the level of risk that the organization faces. Through Reliability Centered Maintenance, we ensure that preventive, predictive, and non-destructive inspections and maintenance tasks are performed in an efficient and safe manner. Our RCM programs ensure maintenance and inspection tasks are centered around improving the reliability and safety of equipment. We apply the best practices and international standards including, but not limited to BS EN IEC 60812, SAE JA1011, SAE JA 1012, ISO-14224, and OREDA to optimize and manage customers’ data, to help our clients make informed and timely decisions about cost savings based on acceptable risk.

  • Asset Register
  • Equipment Criticality Analysis
  • Failure Mode Effects
  • Preventive Maintenance Plans

Reliability, Availability, Maintenance

Reliability, Availability, and Maintainability (RAM) measures have significant impacts on the sustainability or total Life Cycle Costs of a developed system and impact the ability to perform the intended mission and affect overall mission success. We provide RAM studies and analysis for various industries ranging from oil and gas, water and waste water treatment, nuclear, process and manufacturing, to increase the availability of the system, and thus increasing the overall profit as well as reducing the life cycle costs. RCM has additional advantages such as refining of downtime management method, recognition of any performance shortfalls, increase in efficiency and successful maintenance plans. As leading industry professionals, we provide a statistical basis for the contribution of each asset and conducts the analysis as per international standards including, but not limited to, OREDA, ISO-14224, BS-5760, BS-EN 61703 and BS 4778-3.

  • On-Stream Availability Unit Estimation
  • Prediction of the Impact of Equipment Redundancy and Sparing
  • Development and Mitigation Strategies for Expected Failure Modes
  • Fault Tree Analysis