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Risk-Based Asset Management (RBAM): Accounting for Risk in Your Asset Management Strategy

Sept. 14, 2023
What if you could get more out of assets, reduce the risk of critical failures AND keep all your stakeholders happy? It’s called risk-based asset management, or RBAM, and it’ll change how you evaluate every piece of equipment in your plant.

A risk-based asset management (RBAM®) strategy can help optimize your physical assets while preserving their capital value, optimize your maintenance schedule for increased asset uptime, and meet stakeholder requirements. It’s also a critical step in building a strong foundation for digital transformation (sometimes referred to as Industry 4.0).

This white paper explores the importance of asset management, presents the asset life cycle stages and cost implications, outlines a risk-based asset management strategy and explains the five phases of a risk-based asset management implementation model.

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