Data Consolidation into the Asset Register

Many people work hard in the background to provide all required data in order to take wise decisions and contribute to success.

 

  Like the hard work of Sherpas in the Himalaya in transporting vital material before climbing the top much time and effort is required to consolidate financial, technical, GIS, and management information. Besides the technical hurdles to link these heterogeneous data sources most time and effort will be spent in improving the quality of the data to ensure right decisions are taken based on good data. This work is invisible for others but it is key to success.

 

To ensure that there is no disconnect between the operational level on the one hand and the tactical and strategic level on the other the Asset Register has to be based on data from your operational environment. Usually there are four types of data sources;

Financial data: Costs such as acquisition, maintenance, replacement, decommissioning and residual costs are extracted from your operational financial systems. Various depreciation methods - each with its own parameters - can be applied to each asset. Finally, all financial, technical, economical, fiscal, regulatory and/or management costs, are stored in the Asset Register according to their specific calculation rules.

 

Technical data: All assets are stored in a customer-defined hierarchy. Data such as installation date, technical or maximum or minimum lifespan and replacement date are also loaded besides information on physical characteristics. All events that have occurred or may occur during the remaining asset life span—such as maintenance, defects, production losses or shutdowns - are also stored in the Asset Register.

 

GIS data: The physical location of an asset may be an important management aspect. Data from GIS systems are extracted in order to identify and visualise assets. In this way missing links in a network can be easily detected.

 

Management data: Decision-support data, such as risk matrixes, organization-specific KPIs, quality requirements, performance expectations and environmental or risk targets are usually available in spreadsheets. They can be incorporated into the Asset Register for analytical processing.

 

Data Consolidatie

Read more about the other components of Integrated Asset Management:

Strategic Vision  | Corporate Knowledge | Data Consolidation into the Asset Register  | Value Creation