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Is Your Company Ready for The New Reality?

Is Your Company Ready for The New Reality?

Since August, 2015, when VMA’s 201...

Offshore Oil Extraction and Transportation

Offshore Oil Extraction and Transportation

Offshore oil facilities come to the fore...

Back to Basics: Pressure Relief Devices, Part 2

Back to Basics: Pressure Relief Devices, Part 2

In Part 1 of Pressure Relief Devices, wh...

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Industry Headlines

Watson Valve Announces Watson Valve Services, Australia

3 DAYS AGO

Watson Valve Services Inc. announces Watson Valve Services, Australia. Watson Valve will now have the ability to support the supply of its severe service valve products to non-U.S. domestic sites from its Australian based service agent, Process Plants International (PPi) under the name, Watson Valve...

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Velan Makes Changes to Management Team

3 DAYS AGO

Velan recently announced that Executive Vice-President (EVP) Ivan Velan has decided to reduce his work scope, but will remain with the company as Special Advisor to the President, Yves Leduc. Ivan will lead key projects and continue to support the management team.

Martin Allen joined Velan’s ...

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U.S. Oil Inventories Now at Record High

3 DAYS AGO

Several factors have played a part in pushing U.S. crude oil prices below $30 per barrel, including high inventory levels of crude oil, uncertainty about global economic growth, volatility in equity and non-energy commodity markets, and the potential for additional crude oil supply to enter the mark...

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FERC Approves $3.2B Sabal Trail Pipeline Project

3 DAYS AGO

Sabal Trail Transmission, LLC, a joint venture of Spectra Energy Partners, LP, NextEra Energy, Inc. and Duke Energy, received a certificate of public convenience and necessity from the Federal Energy Regulatory Commission (FERC) to construct and operate the Sabal Trail interstate natural gas pipelin...

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U.S. Adds 151,000 Jobs, Unemployment Rate Down to 4.9%

2 DAYS AGO

Total nonfarm payroll employment rose by 151,000 in January, and the unemployment rate dropped 0.1% to 4.9%, the lowest since Feb. 2008. Job gains occurred in several industries, led by retail trade, food services and drinking places, health care and manufacturing. Employment declined in private edu...

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U.S. Factory Orders Down 2.9% in December

3 DAYS AGO

New orders for manufactured goods in December, down four of the last five months, decreased $13.5 billion or 2.9% to $456.5 billion, the U.S. Census Bureau reported today. This followed a 0.7% November decrease. Overall, December orders were 6.6% below where they were one year ago.

Machinery orders...

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Asset Management: A Plant Manager’s Best Friend

vmfall11_maintenance_tabletInformation about the performance of a facility’s valves has never been more readily available—or more important. Digital positioners and distributed controls can provide valuable data about the operation of the overall system. At the same time, the growing complexity of today’s facilities, increasingly stringent regulatory and reporting requirements, and growing pressure to improve plant performance have combined to make that valve data more vital than ever.

But how can an operations or maintenance manager get the best information? To be useful, the data must be readily available and presented in a user-friendly manner. Asset management systems can fulfill this need by providing easy access to a database containing details of the history and health of every valve in a plant.

WHAT IS AN ASSET MANAGEMENT SYSTEM?

An asset management system is the valve equivalent of the electronic medical recordkeeping systems used by hospitals and clinics. For medical applications, the patient’s electronic record contains such information as test results, prescription history, diagnostic images and notes on previous appointments. The physician can access this data with just a few clicks of a mouse, no matter the time of day or night or whether he or she is in the office the patient typically visits, or at a sister facility. Having this complete record helps the physician identify any changes in the patient’s health over time, make accurate diagnoses, alert when routine tests and procedures should be completed and properly bill the insurance provider.

Similarly, an asset management system for valves stores performance data, maintenance records, test results, piping and wiring diagrams, photos and other vital and diagnostic records in a simple and logical manner. The information can then be easily retrieved for use in tasks such as performance analysis, outage and maintenance planning, inventory management, validation reporting to inspectors and loop analysis. An asset management system also can help plant personnel see trends in valve performance over time, diagnose performance problems, determine whether a valve should be repaired or replaced, streamline plant turnarounds and other maintenance activities, and more easily meet documentation and reporting requirements.

Various types of asset management tools are in use today, ranging from spreadsheets and other user-designed tools to sophisticated Web-based programs. The following are key factors to consider when evaluating the options and choosing the right solution.

RANGE OF CAPABILITIES

A key objective of implementing an asset management system is to simplify and streamline processes. To aid in this goal, plant personnel can choose a single tool that will meet all of the plant’s needs, rather than juggling multiple tools to accomplish different tasks.

This single tool should be able to capture data about all types of valves in a plant—control, pressure relief, line, gate, motor-assisted, etc. It also should record information about a valve and all of its accessories, not just an individual component, such as a positioner.

SUPPLIER SUPPORT

It also is important to have confidence that the system’s developer will stand behind the product and provide ongoing support and service, including adding new features and modules. The college student next door who is home for the summer may be a software development whiz; but he or she is not likely to be available come fall, let alone years down the road, to field technical questions and ensure a tool meets evolving needs. A wiser move would be to choose a strong provider committed to its product.

DATA INPUT

Because asset management is about the quality of data, the old adage “garbage in, garbage out” holds true. Data input and maintenance must be regular and accurate if a tool is to provide expected benefits. Some plant operators prefer to handle these tasks in-house. Those who do not have on-staff resources to accomplish these tasks faithfully, however, should consider other options. Some valve service providers offer managing their customers’ asset management systems as a value-added benefit at no additional cost. The end user still owns the data and links to that information, but the service provider handles the data entry and system maintenance.

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