How to drive real results with an APM strategy
Asset Performance Management is a discipline that covers a wide range of technology and processes. When executed effectively, asset performance management can enable dramatic improvements in a company’s ability to achieve overall corporate objectives. A well thought out asset performance management strategy could include technology like predictive maintenance, augmented and virtual reality. Or it may involve in-depth risk analysis to understand the criticality of assets and draw correlations between reducing unscheduled downtime and improved plant throughput. The key to driving a result oriented and effective asset performance management program is to first develop a well thought out strategy.
Before technology and processes are evaluated and adopted, an asset performance management strategy must be developed and refined to meet overall business imperatives. Otherwise, companies may run into long, drawn out pilot projects requiring significant investment over several years that deliver no tangible results.
Matt Newton, Senior Portfolio Marketing Manager, AVEVA