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Last updateThu, 19 Oct 2017 5pm

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Market Outlook 2018: A Sunnier Mood with a Few Caveats

Market Outlook 2018: A Sunnier Mood with a Few Caveats

The atmosphere at VMA’s 2018 Marke...

Is it Time to Toss Those Commissions?

Is it Time to Toss Those Commissions?

It’s tough to pinpoint exactly wha...

Cybersecurity for Process Control

Cybersecurity for Process Control

Security for any process plant has alway...

Young Valve Professionals: Megan Johnston

Young Valve Professionals: Megan Johnston

In 2014, VMA's leadership created the Val...

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Industry Headlines

Crude Oil, Petroleum Product Exports Reach Record Levels

Thursday, 19 October 2017  |  Chris Guy

According to the U.S. Energy Information Administration ( EIA ), crude oil exports in the first half of 2017 increased by more than 300,000 barrels per ...

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Industry Headlines

Emerson Agrees to Acquire Paradigm

3 DAYS AGO

Emerson has agreed to acquire Paradigm for a purchase price of $510 million, reflecting a multiple of 13 times expected 2017 EBITDA. Paradigm will be joined with Emerson’s existing Roxar automation software. The acquisition is expected to close within the next 60 days, subject to various regulat...

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ValvTechnologies Receives ISO 15848 Certification

4 DAYS AGO

ValvTechnologies’ EcoPack technology has received ISO 15848-1:2015 certification from Odin Heavy Industries. To earn ISO 15848 certification, ValvTechnologies underwent a stringent evaluation process that included a series of 17 helium leak tests and eight thermal cycles on a fully assembled v...

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Crude Oil, Petroleum Product Exports Reach Record Levels

2 DAYS AGO

According to the U.S. Energy Information Administration ( EIA ), crude oil exports in the first half of 2017 increased by more than 300,000 barrels per day (b/d) from the first half of 2016, reaching a record high of 0.9 million b/d. Petroleum product exports also grew over the same period with propan...

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Energy Intensity in U.S. Manufacturing Decreased

2 DAYS AGO

Energy intensity in manufacturing in the U.S. decreased from 2010 to 2014. U.S. manufacturing overall fuel intensity decreased by 4.4% from 3.016 thousand British thermal units (Btu) per dollar of output in 2010 to 2.882 thousand Btu in 2014. According to the Manufacturing Energy Consumption Survey (M...

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Fed Reports Economy Growth in September, Early October

2 DAYS AGO

Reports from all 12 Federal Reserve Districts indicated that economic activity increased in September through early October, with the pace of growth split between modest and moderate. The Richmond, Atlanta, and Dallas Districts reported major disruptions from Hurricanes Harvey and Irma in some areas a...

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Industrial Production Up 0.3% in September

3 DAYS AGO

Industrial production rose 0.3% in September. The rates of change for July and August were notably revised; the current estimate for July, a decrease of 0.1%, was 0.5% lower than previously reported, while the estimate for August, a decrease of 0.7%, was 0.2% higher than before. Manufacturing output...

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Asset Management: A Plant Manager’s Best Friend

vmfall11_maintenance_tabletInformation about the performance of a facility’s valves has never been more readily available—or more important. Digital positioners and distributed controls can provide valuable data about the operation of the overall system. At the same time, the growing complexity of today’s facilities, increasingly stringent regulatory and reporting requirements, and growing pressure to improve plant performance have combined to make that valve data more vital than ever.

But how can an operations or maintenance manager get the best information? To be useful, the data must be readily available and presented in a user-friendly manner. Asset management systems can fulfill this need by providing easy access to a database containing details of the history and health of every valve in a plant.

WHAT IS AN ASSET MANAGEMENT SYSTEM?

An asset management system is the valve equivalent of the electronic medical recordkeeping systems used by hospitals and clinics. For medical applications, the patient’s electronic record contains such information as test results, prescription history, diagnostic images and notes on previous appointments. The physician can access this data with just a few clicks of a mouse, no matter the time of day or night or whether he or she is in the office the patient typically visits, or at a sister facility. Having this complete record helps the physician identify any changes in the patient’s health over time, make accurate diagnoses, alert when routine tests and procedures should be completed and properly bill the insurance provider.

Similarly, an asset management system for valves stores performance data, maintenance records, test results, piping and wiring diagrams, photos and other vital and diagnostic records in a simple and logical manner. The information can then be easily retrieved for use in tasks such as performance analysis, outage and maintenance planning, inventory management, validation reporting to inspectors and loop analysis. An asset management system also can help plant personnel see trends in valve performance over time, diagnose performance problems, determine whether a valve should be repaired or replaced, streamline plant turnarounds and other maintenance activities, and more easily meet documentation and reporting requirements.

Various types of asset management tools are in use today, ranging from spreadsheets and other user-designed tools to sophisticated Web-based programs. The following are key factors to consider when evaluating the options and choosing the right solution.

RANGE OF CAPABILITIES

A key objective of implementing an asset management system is to simplify and streamline processes. To aid in this goal, plant personnel can choose a single tool that will meet all of the plant’s needs, rather than juggling multiple tools to accomplish different tasks.

This single tool should be able to capture data about all types of valves in a plant—control, pressure relief, line, gate, motor-assisted, etc. It also should record information about a valve and all of its accessories, not just an individual component, such as a positioner.

SUPPLIER SUPPORT

It also is important to have confidence that the system’s developer will stand behind the product and provide ongoing support and service, including adding new features and modules. The college student next door who is home for the summer may be a software development whiz; but he or she is not likely to be available come fall, let alone years down the road, to field technical questions and ensure a tool meets evolving needs. A wiser move would be to choose a strong provider committed to its product.

DATA INPUT

Because asset management is about the quality of data, the old adage “garbage in, garbage out” holds true. Data input and maintenance must be regular and accurate if a tool is to provide expected benefits. Some plant operators prefer to handle these tasks in-house. Those who do not have on-staff resources to accomplish these tasks faithfully, however, should consider other options. Some valve service providers offer managing their customers’ asset management systems as a value-added benefit at no additional cost. The end user still owns the data and links to that information, but the service provider handles the data entry and system maintenance.

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