The strategic assets lifecycle value optimization (Salvo) project is to share the results of its deliberations in a Process Guidebook to be published later this year. Salvo is a cross-industry initiative (with one oil industry member, Sasol) that has addressed the ‘perfect storm’ of aging infrastructure, capital constraints, uncertain data and risks in the face of growing demands on performance.
Program director John Woodhouse of The Woodhouse Partnership said, ‘Techniques developed under the Salvo project for managing aging assets have been field-proven and are now delivering cost savings, increased transparency and consistency in critical risk-based decisions.’
Salvo describes a systematic approach of problem prioritization and understanding, identifying mitigation strategies and evaluating their value-for-money. The process rolls all this up into an actionable program along with total cost, risk, performance and resource implications.
The Salvo process is supported by an extensive toolbox of recommended best practices, training, decision-support software tools, guidance and templates along with a strategic asset management plan (Stamp) as required by the ISO 55001 standard for asset management. More from Salvo and watch the video.
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