In the previous columns, we became acquainted with the general concepts and principles of physical asset management. Then we stated the physical asset management requirements for the implementation of asset management for industrial valves. In the following columns, we explained the asset management plan during the construction period in the factory, the selection of valves in engineering plans and projects, the operation and maintenance plan, as well as the asset management plan for the removal of valves. In other words, the activities of asset management for the life cycle of industrial valves were reviewed. In the concluding part of this material, the method of evaluating and auditing the physical asset management for industrial valves is stated in order to understand how far we are from the optimal level of asset management for the management of industrial valves. We hope to be able to use the capacity of the physical asset management system to improve efficiency, reduce risk, and optimize cost and energy consumption for industrial valves in production, service, and infrastructure facilities.
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