The aim of the Asset Management technology domain is to assure that IT/OT systems are focused on creating the value from the assets and that the business can translate that value in order to achieve organizational objectives as informed by risk.
Uptime Elements Reliability Framework and Asset Management System
Terrence O'Hanlon, Reliabilityweb.com
Assured Value from Assets
If you work for an asset intensive organization and your role involves assuring value from assets, you are unlikely to organize the world by software applications as software marketing professionals or software analysts’ do, in order to describe these applications and functions to chief information officers, IT leaders or other chief officers. A translation is sorely needed.
Back in the 1970's organizations invested nearly one out of every two dollars into value producing equipment assets for a total of fifty percent of capital spending. The other fifteen percent was investment in intellectual property and technology and the final thirty-five percent was invested in structures and facilities.
In the 2020's corporations are only investing one out of every three dollars in value producing equipment assets because they are leveraging intellectual property (i.e. data) and technology to get more value from fewer assets.
US Industries Own As Much Technology and IP as they do Equipment Reliabilityweb.com
Many industrial organizations use maintenance work management applications, such as computerized maintenance management systems (CMMS) or enterprise asset management (EAM), to manage their preventive maintenance program and the corrective work management program, which was hopefully created from reliability strategy development [RSD] or other sources. These applications create work orders, store equipment maintenance history (e.g., schedules, failures, repairs, inspection results, material and parts usage, root causes, job plans, bill of materials, observations and notes, other data) and asset data.
Asset Management Technology Offers Superb Opportunity Sets for Safe, Sustainable and Successful Workplaces
According to Reliabilityweb.com's EAM/CMMS/APM Practices Research 2021 when Reliability Leaders were asked about their satisfaction level of the ability of their existing CMMS or EAM to support their maintenance process:
- Only around 13% of the respondent classified their satisfaction with CMMS/EAM as 'Excellent'
- Over 42% of respondent termed their satisfaction level as 'Good'.
- More than 30% of respondents are barely satisfied with their CMMS/EAM while more than 14% classify it as 'poor'.
Obviously there is a lot of room for opportunity. In our opinion, the commonly clogged CMMS and EAM will be a serious constraint to remain competitive against data driven asset management programs.
In other words, settling for a poor CMMS and EAM is a risk to safety, sustainability and success in the workplace. IMC-2022 offers a fantastic opportunity to meet dozens of disruptive technology vendors and organizations that can support your journey to advance value from asset management.
Reliabilityweb.com's EAM/CMMS/APM Practices Research 2021 Reliabilityweb.com
Representing asset owner/operators, you want your assets to deliver the organizational objectives (i.e., value) and you want to remove as much uncertainty (i.e., risk) to do so. The technology and strategy is around having the ability to manage asset performance (i.e., APM) by automating condition monitoring, inspection results, operating data and other observations and conditions, setting rules, possibly adding machine learning (ML) and artificial intelligence (AI), and feeding the results and requested follow-up actions to the work management system (CMMS/EAM). The feedback loop then monitors the effectiveness and efficiency of the task to optimize future task decisions.
As a reliability leader, you begin with a theory of reliability, which, in simple terms, is about a failure-free operation. Leading businesses and mission-focused organizations also include a theory of asset management, which, in simple terms, is coordinating activities across the functional roles in the organization and across the asset’s lifecycle and across the enterprise to assure value is delivered from the assets. A reliability and asset management strategy will usually include a comprehensive collection of technically valid and economically feasible maintenance tasks, including condition-directed tasks, time-directed tasks, failure finding tasks and run to failure decisions packaged as a preventive maintenance program.
Technology is needed to capture Asset Management Knowledge [AK], an organization’s collective understanding about its asset management system and assets. This asset management knowledge is managed by people, not systems. With that said, knowledge is only knowledge if it is available and accessible, otherwise it is only potential knowledge. So, the act of managing knowledge should provide this bridge to access as an asset management technology system.
Digitization, Digitalization and Digital Transformation
Digitization is merely turning analog and physical data into a digital format. Digitalization is the opportunity for a new, more efficient or effective business process. Digitalization is about a digital strategy and the supporting digital processes, including the systems that manage your assets in order to get the most value from them. It is important to automate and follow good business practices to support related organizational roles and responsibilities through digitalization.
With digitalization, the end goal is digital transformation, which is to change the behavior of people, and of organizations to effectively operate in a digital capacity to drive the physical world that is being automated, the data that is digitized and processes that are digitalized.
Both data standards and data governance are keys to providing relevant quality information that informs a range of holistic decisions throughout an organization to realize more benefits and value.
Digitalization is just another word for the new innovative business models that are available because of the combined opportunity sets created by the convergence of:
- Cloud computing, offering a trustworthy, elastic IT infrastructure for processing and storage
- Internet of Things or IoT, a high-speed, low-latency, connected network of devices providing near real time or real time health, condition and performance data for assets and people
- Connected Data, open, high-speed, interoperable systems and data hubs, data warehouses and data lakes provide opportunity to relentless improve transactional data governance to move up the data driven decision-making [DM] value chain to:
4. Ai/Machine Learning,capability to analyze massive data sets and improve recommendations though a foundation of evergreen, trustworthy, synchronized management of change
Uptime Elements Digitalization Strategy Framework
IMC-2022 The 36th International Maintenance Conference collocated with the RELIABILITY 4.0 Digital Transformation Conference [East] curated expo of solution providers offers significant disruptions of the traditional “experience based” decision making approach. Current best practice approach has evolved to include connected data networks and ai-infused “model driven/data driven” machine maintenance recommendations approach to support the former. Traditional maintenance work management software has expanded into fully functional Asset Performance Management and Connected data platforms
This brief guide is designed as a technology planning guide and IMC22 Tech Crawl so that you and your team discover the IMC-2022 Solution Providers that can jumpstart your Asset Management Technology journey.
Asset Management Tech Innovators at IMC-2022
Note: Use the IMC-2022 Attendee Hub to book private appointments with these solution providers
IBM [Booth 301]
What you used to know as IBM Maximo for Work Execution Management: CMMS/EAM is now IBM Maximo Application Suite [MAS] an expanded asset performance management system. The technology is now covering a much wider and deeper set of integrated applications for Asset [Performance] Management that aligns across Uptime Elements Reliability Framework and Asset Management System as well as Uptime Elements Digitalization Strategy Framework. We have experienced dozens of enterprises using Maximo Asset Management technology powered by Uptime Elements Reliability Framework and Asset Management System.
The IBM Maximo Application Suite offers intelligent asset management, monitoring, predictive maintenance and reliability in a single, integrated cloud-based platform that uses AI, IoT and analytics to optimize asset utilization, availability, extend asset lifecycles and minimize operational downtime and costs. We see powerful asset insights, asset management leadership and corporate sustainability for IBM Maximo users powering strategy with Uptime Elements.
Sponsoring IBM Maximo Partners in the IMC-2022 Expo include:
Cohesive , Aquitas Solutions, Asset Analytix , ZproCis Solutions , Interloc Solutions , Strategic Maintenance Solutions , Genesis Solutions/ABS , Starboard Consulting , Banetti and InterPro Solutions
Prometheus Group [Booth 101]
Prometheus Group offers a platform for Planning and Scheduling, EHS, Mobility, Master Data, STO, Contractor Management, Reports and Analytics and much more.
The Prometheus Platform provides asset-intensive companies with an easy-to-use, fully interconnected enterprise asset management system that integrates into leading ERP, CMMS, and EAM providers like SAP, Oracle, and IBM Maximo. Our web-based solution provides a powerful user experience and end-to-end support throughout the enterprise asset management lifecycle.
Visual Planner [Booth 400]
Visual Planner is now used by over ten thousand reliability leaders in Work Execution Management: Planning and Scheduling. Visual Planner encompasses all the elements of the IPSPEC [Identify>Plan>Schedule>Prepare>Execute>Close] maintenance work execution cycle and empowers organizations to execute the right maintenance at the right moment, allowing them to maximize asset reliability, boost craft productivity and lower maintenance costs.
Visual Planner is also available as a mobile, Connected Worker Solution for Maintenance and Operations, a Mobile Work Order Management, Planning and Scheduling, Spare Parts Control Center and easy Work Instructions Authoring.
AVEVA [Booth 300]
AVEVA is best known at the International Maintenance Conference for Asset Performance Management technology, however; the functionality and capability across the AVEVA suite of applications includes Asset Information Management, P&ID Management, 3D Asset Visualization, Digital Twins, IoT, Asset Strategy Management, Predictive Analytics, Mobilization and more across the asset lifecycle. AVEVA is supported globally by a vibrant network of partners.
ARMS Reliability [Booth 100]
ARMS Reliability offers OnePM technology, a centralized, connected, Asset Strategy Management system that enables you to efficiently develop, deploy and sustain effective strategies to all assets.
At the core of OnePM sits a sophisticated matrix of asset type, criticalities and make/model information. These asset strategies can be updated, changed, cloned and deployed rapidly while supporting regional or local variations to cater for different operational or environmental conditions.
Using an Uptime Elements lens, OnePM technology directly supports Reliability Strategy Development [RSD], Criticality Analysis [CA], Root Cause Analysis [RCA] in the Reliability for Engineering Domain and Risk Management [RI], Asset Knowledge [AK] and Strategy and Planning [SP] in the Asset Management Domain.
Uptake [Booth 209]
Uptake offers ai-infused, expert-curated, industry-proven, best-practice maintenance strategies with Uptake Asset Strategy Library® Explorer or ASL Explorer.
Uptake Asset Strategy Library Explorer empowers your team to access baseline preventative maintenance strategies and content from our knowledge base. Analyze tasks, frequencies, and get step-by-step task instructions for quick upload into your computerized maintenance management system (CMMS) / enterprise asset management (EAM) maintenance system.
Now available instantly from the Microsoft Azure Marketplace, ASL® Explorer enables maintenance and reliability teams to improve their preventative maintenance intervals and critical equipment reliability, mitigate future failure events, and optimize maintenance costs. Better maintenance strategies are at hand — no data or IT required.
Using an Uptime Elements lens, Uptake Asset Strategy Library Explorer directly supports Reliability Strategy Development [RSD], Criticality Analysis [CA], Root Cause Analysis [RCA] in the Reliability for Engineering Domain and Risk Management [RI], Asset Knowledge [AK] and Strategy and Planning [SP] in the Asset Management Domain.
IFS [Booth 412]
IFS offers a, Enterprise Asset Management [EAM] technology solution that is a flexible, composable, cloud-native solution designed to handle the complex asset demands of the energy & utilities, construction & engineering, manufacturing, services, aerospace and defense industries. IFS EAM automates the management of assets to control maintenance and optimize asset performance within a single, solution that also allows work online and offline on a native mobile app. The breadth of capabilities enables supports for both current and future needs.
IFS has a mission to provide all its customers with the ability to have the complete and changing view of their asset performance and therefore have the foundation to improve asset availability, utilization, and reliability consistently.
Shoreline [Booth 217]
Shoreline delivers Asset Maintenance & Reliability as a 100% Managed Asset Performance Management [APM] Platform with a single subscription, which provides everything a customer needs – sensors + solution – with zero capex.
Shoreline delivers an end-to-end, zero friction, fully automated solution that remotely monitors and manages asset performance 24x7. It’s easy to use and cost effective for all assets, not just the high-end critical ones. Our unique AI/ML and software driven approach focuses on achieving sustainable, optimal asset and operations performance. Shoreline’s smart sensing and cloud based industrial software platform provides the real-time, actionable knowledge required to stabilize operating performance, prevent equipment failures and realize maximum return on an organization's capital assets.
Shorelines managed Asset Performance Management platform democratizes automated asset maintenance and reliability for all industrial assets and opens-up a new market for unmonitored assets.
Hexagon ALI [Booth 422]
You may or may not be familiar with the Hexagon Asset Lifecycle Intelligence name yet, but you will likely know of DataStream, MP2, and Infor EAM that make up part of the core technology solution sets offered.
In addition to industry leading enterprise asset management software, Hexagon offers supporting technology across the entire asset lifecycle including 3D Visualization, procurement, fabrication, construction engineering and schematics.
From an Uptime Elements lens, we have experienced Hexagon EAM [HxGEAM] technology applications aligned to deliver all Uptime Elements Reliability Framework and Asset Management domains and asset lifecycles at dozens of enterprises.
Atonix [Booth 319]
The AtonixOI Asset Performance Management Platform was developed by engineers with decades of industry domain expertise and was purpose-built to combine the power of predictive analytics with an issue resolution workflow…because AI is meaningless without action.
AtonixOI runs thousands of models across a diverse set of assets in real-time to detect changes in asset performance. The OI machine learning algorithms provide operators and engineers with an up-to-the-minute view of infrastructure health and effectiveness.
The AtonixOI Solution is built with asset and process experts in mind; making complex predictive analytics easy to consume for the people who know plant operations.
AtonixOI combines the best of connected data, automated work flows and decision flows as a superpower for asset management domain experts and plant engineers.
Aspen Tech [Booth 315]
Machine learning technology can now predict equipment failures weeks in advance. But how do you decide when and how to perform the repair to maximize productivity and minimize risk? Improve Asset Knowledge-based [AK] Decision Making [DM] Agility with Aspen Mtell® and Aspen Fidelis™ which enable you to quickly evaluate hundreds of possible future scenarios, and understand the financial consequences and risk involved in different operational decisions.
Asset Analytix [Booth 106 ]
A streamlined new approach to assess your Reliability & Asset Management (RAM) program; RAM-GPS is the first ever high-level assessment tool powered by Uptime Elements Reliability Framework and Asset Management System.
DEVELOP A LINE OF SIGHT – A stand-alone module of Asset Analytix’ Precision Assessment System, RAM-GPS is the 1”-Deep / Mile-Wide asset management evaluation that establishes maturity, adoption, and performance helping you map your route directly to your business objectives.
KloudGin [Tower ]
KloudGin is all about smarter assets and smarter workers. KloudGin is a combined, one cloud field service and asset management solution on a single easy-to-use platform
Combining Field Service Management and Asset Management into a single, integrated cloud solution means a more optimized operation. This results in a single mobile app for field crews to use for all types of work with digital transformation as the backbone of the business. Eliminating these traditional information and process silos and focusing on a single platform to work together on this important last mile, enables existing business models to transform to serve new market opportunities and combat competitive threats.
In God We Trust. All Others Bring Data
For decades, some reliability leaders have had to make decisions with incomplete information sets, missing data and gigabytes of useless maintenance information collected without data governance. The technology productivity gains possible in the seventies was much lower than the technology productivity gain in the twenty-twenties. It is time to raise the level of value we can expect from our technology investments and use data to guide and advise our decisions for safe, sustainable and successful plants.
Note: Use the IMC-2022 Attendee Hub to book private appointments with these asset management technology solution providers
Top Challenges for Asset Management TechnologyReliabilityweb.com
Top 3 CMMS/EAM Asset Knowledge Success Factors you can discover at IMC-2022
- Executive Sponsorship
- Clear Strategy and Plan
- Ease of Use
Top 3 Asset Knowledge Success FactorsReliabilityweb.com
More Asset Management Technology Success Factors to uncover at IMC-2022...
1. Managing asset management information is a critical enabler of transparent, long-term, risk-based decision-making.
2. Identifying asset information requirements is a cross-functional task, not the job of the IT department.
3. Information requirements should be directly linked to asset management objectives and risks.
4. Information requirements should be documented in an asset management information strategy.
If you are attending the 36th International Maintenance Conference please make time for the IMC-2022 Expo Tech Crawl - Thursday Dec 8, 2022. You will be able to meet each of these technology solution providers.
Check out the Asset Management Services Disrupters Report at IMC-2022
The Asset Management technology context is supplied by following references
1Reliability-centered Maintenance by Nolan and Heap 
RCM, Gateway to World Class Maintenance by Anthony “Mac” Smith 
10 Rights of Asset Management by Ramesh Gulati and Terrence OHanlon 
Uptime Elements Reliability Framework and Asset Management System 
Asset Condition Management Domain Passport 
Uptime Elements Digitalization Strategy Framework 
Digitalization Strategy Framework and IoT Domain Passport 
The DIPF Curve 
SDIPF Curve 
Uptime Elements: The Way Things Fail Poster 
Uptime Elements: Five Sources of Defects Poster 
Uptime Elements Performance Management System 
Uptime Elements Work Categories and Work Types 
Uptime Elements Sustainability Map 
Uptime Elements Implementation Guide – Enabling the Sustainability and Reliability Journey, Second Edition 
Uptime Elements Implementation Guide: 5-Why Project Failure Causes and Remedies .xls 
From Your Site Articles
Related Articles Around the Web