You are here

Asset Performance Management at a glance

Asset Performance Management (APM) has become a popular catchphrase for anything that helps asset intensive organizations to get the most value out of their costly equipment. An APM solution can help you to prevent equipment failure, increase production and lowering costs. Depending on how you use it, any tool or equipment can have a utility ranging from useless, if you keep it in its box, to extremly useful, if you know how to operate it in an excellent manner.

If your company is asset intensive and you are trying to save money by better operating your assets, you need an asset performance management solution, which can

  • prevent unplanned downtime,
  • optimize maintenance strategies and resources,
  • maximize the operational life of your assets,
  • increase asset availability, utilization and performance and
  • reduce maintenance costs,
  • find the root causes of failures and faults.

How can asset performance management help you?

First of all, any asset performance management system needs data to give you the best results possible. So data needs to be gathered from all relevant sources and managed so you can understand what the performance of your assets is and how it can be improved. 

APM deals with the optimal management and operation of assets through their whole life cycle. It represents a cross-disciplinary collaboration to achieve best net, sustained value-for-money in the selecton, design/acquisition, operations, maintenance and renewal/disposal of physical infrastructure and equipment.

An asset performance management solution empowers managers, engineers, operations and maintenance teams with decision support information, providing the right information to the right people at the right time and in the right context, thus improving operational performance, increasing asset availability/utilization and ultimately driving business value and real financial gains.

What APM is, and what it is not

Asset performance management is not just a piece of software, but a strategy which includes business processes and workflows to provide a well-marked path to operational excellence through the effective management and optimization of risk and expenditure across the asset lifecycle. APM is not only used to save money, it can also be used to manage risks (such as accidents, unplanned interruptions, etc.) and to ensure compliance with local or international rules and regulations. 

Learn how PARASUITE can help you to address the above mentioned challenges.

 

    

Copyright (c) 2000-2014 Cognidata GmbH