Asset Management


SMEC’s asset management is a specialist business having the benefit of being a part of a much larger design and engineering professional services company.

We have been delivering complex assets and solutions in highly technical and regulated environments for over 40 years across 52 countries.

When working on specialist Asset Management initiatives and related projects clients benefit and are supported by our front end technical capability. This approach has led to the development of best practice and world-class processes, systems and technology in a broad range of industry sectors to help clients unlock the hidden potential and reduce costs in assets to achieve:

  • Improved performance and productivity outcomes through increasing the overall return on investment (ROI)
  • Improved safety and environmental management
  • Increased productivity through asset reliability
  • Lowered total cost of ownership and ownership (CAPEX & OPEX)
  • Efficient and optimised operations and maintenance organisations and systems

Our asset management services offer the optimum balance between risk, performance and cost for clients. These services are complemented by our extensive engineering expertise, allowing asset management solutions to be developed and incorporated at one or every stage of a development’s lifecycle.

This differentiates SMEC from other asset management service providers.


Contact the Asset Management team



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Thomas Hynes

Chief Operating Officer - Asset Management

E: thomas.hynes@smec.com



SMEC provide strategic advisory services throughout a project’s or operating assets life cycle by accessing and working with client’s asset management philosophies and strategies, which encompass the three main foundations of integrity (design, technical, operational) and may include such considerations as Asset Reference, Operations and Maintenance excellence and Health and Safety plans.

Typical services offered:

  • Design, technical, operational frameworks
  • Development of HSE cases
  • Risk and bowtie analysis
  • Maintenance strategies aligned to performance standards
  • Review and rework of associated corporate standards
  • Assurance embedded through structured audits and review
  • KPIs (Key Performance Indicators) review
  • Real time reliability and bad actor solutions
  • Equipment criticality and asset verification
  • Maintenance builds and asset register
  • Criticality identification and Safety Critical Equipment (SCE).

SMEC’s Health Check process identifies the condition of an asset (or assets) through our subject matter experts and an extensive range of industry specific questions. Questions range from operations, organisation, people through to plant and production looking at operational and technical integrity to rank an asset’s performance risk according to:

  • Immediate enhancement required
  • Potential for improvement
  • Effective practice
  • Best practice.

Outputs include:

  • Practices currently being used, identified and made transparent
  • International and Client standards, procedures and recognised international safety standards are complied and optimised
  • A reported gap analysis between industry best practice vs good practice is clearly identified
  • Where improvements and enhancements are identified a full set of solutions will be provided
  • Measuring against industry average
  • KPIs (Key Performance Indicators)
  • Gaps and risks identified.

Delivering assured and improved plant asset availability, while minimising risk and hazards to support optimised production and emissions on a risk assessed basis, measured by robust process simulations.

Services include:

  • Improved plant start-up/shut-down efficiency
  • Improved trip event reduction
  • Improved quality procedures and processes
  • Energy management strategies
  • Reducing day-to-day operator faults
  • Simulated testing
  • Role play training and drills.

Attaining and maintaining higher levels of operational effectiveness and production is now a primary focus for all global businesses.

Benchmarking and auditing identifies best in class performers in terms of operations and maintenance, and conducts improvement analysis using accurate best in class industry benchmarked peer data to:

  • Quantify and understand strengths and weaknesses relative to industry peers
  • Gain insight into competitive position
  • Analyse costs and operating practices to improve efficiencies
  • Evaluate existing capital and resources to reallocate to other assets
  • Evaluate company (or asset) performance.

We provide a complete range of benchmarking services to a broad range of industries, globally. These benchmarking programs and tool sets are designed on a client-by-client basis to compare performance and costs, not only internally but against industry competitors or within their own global organisation (intra-company).

Key corporate business and functional areas performance are improved through analytical services and capabilities to provide clients with detailed insights into specific areas through:

  • Benchmark Data Surveys
  • Benchmark Data Gathering Analysis Surveys
  • Modelling Surveys (people, operational, maintenance, organisational, projects, layout, plot etc.)
  • Performance and Efficiency Improvement Workshops
  • Business Model Evaluations and Survey.

We provide our customers with a comprehensive service to improve the efficiency of supply chain, materials and spares availability for maintenance and operational contingency. These services range from specific supply chain processes, spares philosophy, criticality studies, bills of materials (BoMs) preparation for equipment and maintenance, original equipment vendor identification, inventory management, preservation management and fit for service assurance and other supply chain optimisation.

  • Identify and verify Safety and Production critical equipment in the asset management register for completeness to ensure current materials, spares and inventory are assigned
  • Assess materials and spares philosophy and strategies to enhance production and performance
  • Review materials and spares criticality by type, lead time and suppliers
  • Develop and assign equipment BoMs (Bills of Materials) so current materials are catalogued
  • Materials and spares management inventory optimisation.

We provide services that significantly improve the quality of performance and effectiveness of a client’s operations and maintenance processes. Our services are individually tailored to align with the client’s practices and best in class industry standards which, when implemented and executed correctly, result in significant savings.

Services include:

  • A robust maintenance archive database to establish minimum standards
  • Planned maintenance cleansing and optimisation
  • Detailed deep dive analysis of maintenance data within a client’s CMMS (Computerised Maintenance Management Systems)
  • Asset register CMMS clean up and enhancement for maintenance planning and execution purposes
  • Focused identification of equipment bad actors with tailored solutions
  • Review and development of key maintenance philosophy, strategies and procedures in aligned with defined standards
  • Energy efficiency audits to reduce consumption costs
  • Performance standards and assurance tasks review and alignment
  • Safety and production critical element reviews
  • Development of maintenance strategies using robust industry and SMEC’s maintenance library
  • Analysis and benchmarking of historical maintenance efficiencies.

Our multidiscipline operations and maintenance execution and support services deliver safe, more predictable and efficient operation for clients across a range of industries.

Click here for more information on Operations and Maintenance.

Operational readiness is a systematic approach to integrate organisational capabilities with project delivery. This process ensures an asset is ready to safely start-up its operations on time and perform in accordance with its best of design in a safe, efficient and sustainable capacity that meets operational and name plate production.

This is achieved through ensuring:

  • Physical assets are ready: Equipment and processes starting within an operational context will deliver optimal performance
  • People are ready: People are on-board, trained and equipped
  • Processes are ready: Seamless integration into existing business processes
  • Information Systems are ready: Critical business information is available from the first day of operation.

Why is it important for projects to undertake Operational Readiness?

The ability of the Operations team to start-up and ramp-up once a project is handed over is a critical factor in achieving the business case benefits. Any delays achieving an efficient start-up and ramp-up leads to lost output and achieving a planned return on investment.

Studies show the majority of projects valued at over $500 million will experience cost overruns and project delays. This causes a significant impact to production when the project is handed over to the operator.

Operational readiness ensures risks are identified and mitigated early, in addition to minimising the gap between expected and actual performance.