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Overview and Benefits of Physical Asset Management

Current Practices Combine in Physical Asset Management

Financial Results ? the Key to Success

Metrics/Measures of Performance

Major Elements of Physical Asset Management

The Physical Asset Management Process

Physical Asset Management for Capital Projects

Industry Best Practices, Results, Issues, Challenges and Lessons Learned

Condition Assessment Technology and Systems

Vibration Signal Processing Algorithms for Equipment Defect Recognition and Identification

Fundamentals of Fluid Analysis for Industrial Machinery

Electrical Analysis: Static (off-Line) and Dynamic (On-Line)

Decision Support

The Future

Equipment Management Oriented Specifications


Physical Asset Management Handbook
by John S. Mitchell

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Physical Asset Management Handbook $145.00 


An incredible collection of information on a subject that is not concisely documented in the literature.  John Mitchell is to be congratulated for developing a working handbook with in-depth knowledge on the subject. Any manager who is either new or experienced in the introduction of asset management principles and procedures will surely greatly benefit from study and implementation of the information contained in the Handbook.
     Ronald L. Eshleman Ph.D., P.E., Director, Vibration Institute

The concepts [in this book] go beyond the theoretical and accurately reflect the actual experience of our enterprise asset management improvement project. The practices in the handbook work. Our external benchmarking before (1999) and after (2004) has moved us as a company to first-quartile standing, in part due to implementation of the strategies recommended in the handbook. it will be a resource tool in the continuous improvement of our enterprise asset optimization program.
     Tim Stovall CMRP, NOVA Chemicals, Inc.

This neatly revised and thoroughly updated handbook emphasizes the practical aspects of asset management. It goes well beyond general philosophizing and adds value by presenting facts rather than mere general concepts? it allows others to become doers instead of philosophizers. As was the case with previous editions, Mitchell's handbooks have become the "Gold Standard" in the field of asset management.
    Heinz Bloch, P.E., Process Machinery Consulting
"Great work... a seminal document."
     Jack Nicholas, P.E., CEO, Maintenance Quality Systems, LLC

Physical Asset Management defines a "best way" of managing corporate physical assets to gain greatest return. It blends the best processes, practice and technology used effectively by industry leaders to assure highest effectiveness in your specific business, operating, organizational and material conditions. The purpose of Physical Asset Management is to ensure that the means of production/operation are available to meet mission, availability, yield, schedule, quality, and cost commitments effectively at optimum return.

This definitive handbook provides a practical "how to" for executives, managers, and team members charged with gaining maximum productivity and effectiveness from physical systems and equipment in response to stated mission/business/operating imperatives.

Physical Asset Management, Fourth Edition, is a major update and expansion of more than 100 pages of the valuable material contained in the acclaimed third edition. John Mitchell and editor John Hickman have crafted their experience-based contributions, and those of ten leading practitioners of Physical Asset Management, into a top-to-bottom description of the processes, practices, technology, implementation, and results attainable with Physical Asset Management in a highly practical, experience oriented, results directed format.

Physical Asset Management consists of a mix of processes, systems, practices, and technologies strategically implemented to achieve a specific mission and/or objectives. It considers market, business, and operating conditions; related opportunities; and site-specific conditions and requirements. The Physical Asset Management strategy addresses issues as diverse as safety, environmental compliance, reliability, operating efficiency, maintenance costs, work and spare parts management. All of these elements are fully examined and analyzed in this major new work.

The book addresses financial requirements, including conservation of capital. It illustrates how generic processes and technology can be assembled to provide maximum results for a given mission, business, and set of operating conditions. "Soft" issues such as culture, organization, communication, ownership, compensation, and training are addressed as integral elements that are vital to the success of Physical Asset Management.

New material includes a chapter on lifecycle cost analysis, contributed by a noted expert in the field; individual chapters on change management, leadership and organization and greatly expanded information on metrics; work and stores management; TPM, RCM and RCA. There are two new chapters describing experience implementing programs and a third chapter describing the program of an industry leader that has been updated from the previous edition. The definitive chapters on data and information, condition assessment technology, fluid and electrical analysis from the third edition have been updated and expanded. The chapters on identifying improvement opportunities, program development and implementation are also greatly expanded with detailed ideas for justification and implementation for maximum results. Three comprehensive scorecards for evaluating the scope and effectiveness of Reliability, Vibration and Lubrication programs are included to provide a sound basis for auditing existing programs as well as assuring complete coverage for a new program.

Twice retired and still going strong, John Mitchell currently conducts Asset Management/Optimization workshops and provides coaching for organizations committed to improving the productivity, utilization and effectiveness of physical assets. Prior to his last retirement he was Site Manager leading the implementation of a comprehensive asset productivity improvement initiative in a large petrochemical complex. During his 40 years' professional experience Mitchell has been Vice President Maintenance Operations and Engineering with a large international company; founding president of MIMOSA, the Machinery Information Management Open Systems Alliance; Manager, Condition Monitoring Systems, Brel & Kjr, AS and President and CEO, Palomar Technology International.

John has been a strong and visible advocate for the development and implementation of business, technical, and operating strategies for optimizing the lifetime performance and utilization of industrial equipment. He has authored more than 100 technical papers and articles and has delivered numerous presentations and workshops throughout the world detailing the technology, financial, and business benefits of Asset Optimization, Profit-Centered Maintenance, vibration analysis and condition assessment.

In addition to Physical Asset Management, Fourth Edition, John is the author of the book An Introduction to Machinery Monitoring and Analysis. He is a graduate of the US Naval Academy, Annapolis, Maryland.



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