As industries increasingly strive to reduce operational costs, extending the life of aging assets will become critical for reducing maintenance expenses. In this checklist, we offer best practices to keep in mind when planning your asset life extension (ALE) process.

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Checklist

What the checklist covers

Organizational factors

The organization of the ALE process is critical for its ongoing success. Make sure roles and responsibilities are clearly defined and identify necessary resources.

Planning and implementation

It is important to have long term plans in place before extending the life of particular assets. Proper planning and effective implementation avoids risks and uncovers possible asset life extension issues.

Monitor, audit, review

After an ALE process is in place, it’s necessary to constantly review and make adjustments as needed.

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