Integrated Asset Performance Management: a true, holistic view of asset health and risk

Abstract

The benefits of optimised operational asset effectiveness are compelling; however, deployment of Asset Performance Management (APM) platforms has often been handicapped by organisational demarcation, localised APM ‘heroes’ driving for success against the headwind of a reactive business culture and ongoing erosion of corporate operational asset knowledge. Increasingly, APM initiatives are also overrun by the increasing scope of corporate ‘Big Data’ projects, whereby data volume rather than informational context inadvertently becomes the objective. Execution of maintenance strategies is one of the single biggest influencers on asset performance, and optimising that program requires accurate insight into the constantly changing operating context, environment and asset health. Asset maintenance plans need to change dynamically, ideally updating in real time. Integrated APM harmonises the asset management functions, which may otherwise sit in independent silos, including reliability strategy, asset health, root cause analysis and defect elimination. Integration ensures consistency and standardisation in policies and strategies, accelerating improvement and enabling corporate learning and best practice to propagate. This paper illustrates how edge data processing, Industrial Internet of Things (IIOT) connectivity and cloud computing come together to deliver real outcomes for innovative enterprises. Plant-wide data systems that link failure-mode specific data sets directly with asset strategy, lead to faster root cause determination, work planning and execution. Practical examples of where this crucial step of parsing machinery information according to operating context and known failure modes drives tangible benefits within the integrated APM process are discussed. Well-considered technologies, policies and practices will deliver predictable, optimal asset performance and the ensuing business benefits.