Asset Manual Essay

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Asset Management Manual Contents 1 2 3 4 5 6 7 8 9 10 Asset management strategy 2 Asset management organisation 10 Asset management systems 16 Asset management standards 22 Asset management core competencies 28 Acquiring assets – asset operational readiness 34 Asset maintenance tactics development and management 42 Reliability modelling approaches 48 Operate for reliability 54 Work management 60 11 12 13 14 15 16 17 18 19 20 21 Shutdown management 66 Condition monitoring 72 Hydrocarbon management 80 Defect elimination 86 Asset Lifecycle planning 94 Material management 102 Contractor management 110 LEAN asset management 116 Asset management collaboration 122 Metrics 128 Sustainability 134 This material is confidential and proprietary to the companies of Rio Tinto, and must not be disclosed to others or used for any purpose other than that for which it was provided. Foreword Welcome to the second edition of the Rio Tinto Asset Management Manual. It has been nearly five years since the launch of the first edition of this manual. At the time, the Improving Performance Together (IPT) programme was only in its infancy and being piloted in North America; terms such as operate for reliability and defect elimination were only just entering our language; the Rio Tinto Business Solution was still in the early stages of design; the Rio Tinto Reliability Solution hadn’t been conceived; and global metrics were unheard of. Rio Tinto has come a long way since those days and our approach to asset management has matured significantly. So it is appropriate that the manual be refreshed to reflect our latest thinking. But some things haven’t changed. Asset management is still one of the key business drivers for Rio Tinto and remains a source of considerable competitive advantage, and a major source of value creation. It is

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