Best three practices

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As industies increasingly strive to reduce operational costs, extending the life of aging assets will become critical for reducing maintenance costs. 

So this Checklist offers three best practices to keep in mind when planning your asset life extension process.

1. Organizational Factors

The Asset Life Extension is critical for it ongoing success for your organization. Therefore it is important to make sure that the roles and responsibilities are clearly defined and identify recources.

2. Planning and Implementation

Also it is important to have a long term planning in place before extending the life of assets. The benefit of a proper planning is to avoid risks and uncovers possible asset life extension issues. 

3. Monitoring, Audit & Review

After the implementation, it is necessary to constantly review and make adjustments as needed.