INTERCHANGE ONLINE The News Pages of the Interchange Working Party

November 2001

Improving Asset Information

Enhanced engineering content offers operators a wide range of benefits

PISTEP member Pearson-Harper is a UK-based company that provides expertise and resources to resolve the issues faced by companies who need to improve the information relating to their assets.

Front line engineering staff have long recognised the benefits of good engineering content and the potentially serious consequences of inaccurate or inadequate information, but have consistently found it difficult to quantify this in tangible form. Pearson-Harper has developed a benefits model which helps owner-operators identify savings and benefits and justify the costs associated with enhancing engineering data and documents.

The Pearson-Harper model addresses this problem by taking a range of plant related statistics and running them through a series of validated processes. This produces: -

• a financial model, identifying one off and annual cost savings
• a detailed written benefits case highlighting specific areas which would benefit from enhanced engineering content i.e. compliance, shutdown planning and spares optimisation.

Pearson-Harper has worked closely with a large oil and gas operator to validate the model. The model was run on statistics for a number of plants including a typical offshore platform consisting of some 50 000 tagged items of equipment. The cost of revamping the installations engineering content was calculated at around £1m, but the model identified that the project would pay for itself in less than 12 months with a series of one off savings. The ongoing savings associated with enhanced engineering content were calculated as some £3.1m per annum.

For more information contact Alex.Hayward@pearson-harper.com

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