Asset management in mining: A practical case on obtaining a reliable performance, risk and cost measurements

The traditional performance (availability and MTBF) and cost (material, labor and contractors) metrics were maintained, but two new metrics were identified as proactive and will be used to translate the risk within the utilize and maintain stages of the asset´s lifecycle. To assure reliable information a quantification of the data´s quality was very important to identify gaps in the recording process. The application of ISO 14224 recommendations was essential to fulfill the gaps. With the asset performance measured, it can be compared to its service level required to accomplish the business strategy. This comparison will enable a rank that will identify the low performance assets that need special attention.