Asset Management

Question: Discuss about the Asset Management. Answer: Total labor cost- Date Particulars Cost in dollar ($) 12th January labor cost 300 15th January Labor cost 450 25th January Labor cost 250 TOTAL LABOR COST- 1000 Total cost of parts- Date Particulars Cost in Dollars ($) 11 January Parts 20 8 February Parts 12 TOTAL PARTS COST- 32 Total cost of maintenance- Date Particulars Cost in Dollars ($) 1st January Weekly cleaning 548 8 January Weekly cleaning 590 11 January Invoice cost 150 12 January Invoice cost 450 15 January Invoice cost 600 15 January Weekly cleaning 652 20 January replacement of fan belts 350 22 January weekly cleaning 595 23 January emergency replacement of right side housing 150 24 January Yearly deep cleaning 150 25 January removal of item dropped in vent by guest 250 29th February weekly cleaning 598 7th February weekly cleaning 612 10th February emergency replacement of left side housing 150 8th February replaced all seals to stop leaks 150 15th February Weekly cleaning 660 22nd February Weekly Cleaning 669 Total cost of maintenance 7174 The total cost of maintenance is provide on the above table it provides a clear and precise idea of overall parts of maintenance detail of Air-condition unit for the period of 1st January to 22nd February. There are some significant costs such as weekly clearing costs are consistent other than that there are some emergency replacements such as compressor gas and fan belt are had been carried out. Leakage maintenance cost was also uncertain (Au-Yong, Ali and Ahmad, 2014). The total cost of 7174 dollars can be reduced in upcoming months if the emergency services are not included and weekly clearing change is almost constant with some variation that is very minimal. Furthermore, it can be stated that all the invoices are not checked properly by the cist maintenance department. All through some of the invoice are clearly checked and total maintenance cost is sum of the cost involved such as labor cost, parts cost, downtime cost and other replacements cost (El-Akruti and Dwight, 2013). Asset was unavailable during the period Date Particulars Number of Hours 11 January Fuse replaced 24 hours 23 January emergency replacement of right side housing 24 hours 10 February emergency replacement of left side housing 24 hours Total hours- 72 hours The number of hours the asset was unavailable during the period is illustrated in the above table and this unavailability was only for some emergency work that took place (Fasolo and Seborg, 1995). The total down time is 120 hours. Date Particulars Number of Hours 12th January compressor gas replaced 32 hours 15th January Yearly replacement of all seals on all doors 32 hours 20th January Unplanned replacement of fan belts 48 hours 8th February replaced all seals to stop leaks 12 hours Total Hours- 124 hours The number of hours the asset was unavailable due to unplanned maintenance during the period are shown above and they are the deliverables those took place due to inappropriate maintenance and the total downtime is 148 hours (FIMMM, 2011). Date Particulars Number of Hours 24th January Yearly deep cleaning 24 hours TOTAL HOURS- 24 The above details for the number of hours of were unavailable due to planned maintenance during the period and there was only planned maintenance and the down time is 24 hours. Three key performance indicators that can be used to determine the performance of this asset are as follows- Reliability of equipment- Reliability of the equipment can be measured with the help of mean time between failure, percentage of emergency work and estimated replacement value (ERV) (Galatioto et al., 2013). These factors will help in understanding the reliability and thus better performance measurement can be carried out. Quality and prompt resolution- Quality response is another significant factor that includes schedule compliance and percentage of planned work that will help in better maintenance and performance measurement can be carried out effectively. Maintenance cost and prediction of failure- Percentage overtime, maintenance labor cost and contractor maintenance labor cost should be calculated separately (Koksal and Ozdemir, 2016). On the other hand, the percentage PPM work and percentage schedule compliance will help in better prediction of system failure and effective performance determination will be done. The number of events not checked for quality are- Date Particulars 1st January Weekly cleaning 15 January Yearly replacement of all seals on all doors 29 January Weekly cleaning 7 February Weekly cleaning 15 February Weekly cleaning 22 February Weekly cleaning The above events are not checked for quality and most of them are weekly cleaning process and maybe it is the most significant reason for unplanned or uncertain service occurrence and increasing the complexity level of yearly deep cleaning. There are various risk factors associated with the air conditioning system and primarily health related and they are as follows- Dry skin- If you are going to spend long hour in HVAC system your skin may loss moisture and dryness of skin may occur and for this suitable moisturizers should be used by the individuals. Chronic illness- It increases the symptoms o lower blood resource and it sometimes difficult for pain management in central air conditioning system (Trappey et al., 2015). Breathing problems- If the proper maintenance is not carried out then the micro organism can results in breathing problems and air- bone disease sometimes took place that produces high fever and pneumonia. In unavailable days three process those could be implemented are- Ceiling fans in every roof along with table fans Air cooler may be taken More energy efficient lighting system that will reduce the overall energy omission within the floor. Regular maintenance service and suitable maintenance tools should be used by the team to avoid uncertain failure and better cost management. References Au-Yong, C., Ali, A. and Ahmad, F. (2014). Improving occupants' satisfaction with effective maintenance management of HVAC system in office buildings.Automation in Construction, 43, pp.31-37. El-Akruti, K. and Dwight, R. (2013). A framework for the engineering asset management system.Journal of Quality in Maintenance Engineering, 19(4), pp.398-412. Fasolo, P. and Seborg, D. (1995). Monitoring and Fault Detection for an HVAC Control System.HVACR Res., 1(3), pp.177-193. FIMMM, B. (2011). Performance Improvement through an Asset Maintenance Optimisation System.Journal of Applied Sciences, 11(9), pp.1580-1586. Galatioto, A., Pitruzzella, S., Scaccianoce, G. and Milone, D. (2013). Regional Policies for Sustainability in the Mediterranean Countries: The Role of a Proper HVAC System Maintenance in Museums.AMM, 316-317, pp.1147-1151. Koksal, A. and Ozdemir, A. (2016). Improved transformer maintenance plan for reliability centred asset management of power transmission system.IET Generation, Transmission Distribution, 10(8), pp.1976-1983. Trappey, A., Trappey, C., Ma, L. and Chang, J. (2015). Intelligent engineering asset management system for power transformer maintenance decision supports under various operating conditions.Computers Industrial Engineering, 84, pp.3-11.