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asset management

 AspenTech Extends Optimization’s Reach Across Design, Operations and Maintenance with aspenONE

AspenTech Extends Optimization’s Reach Across Design, Operations and Maintenance with aspenONE

Aspen Technology, Inc., the asset optimization software company, today announced the general availability of aspenONE® Version 10 software. The latest Asset Performance Management, Engineering and Manufacturing & Supply Chain software release supports the company’s evolution from process optimization to asset optimization, the next frontier of optimization that makes the best companies even better by driving increased financial return over the entire asset lifecycle.

 PTC Introduces New ThingWorx Studio Augmented Reality Free Trial Program

PTC Introduces New ThingWorx Studio Augmented Reality Free Trial Program

PTC launched a new ThingWorx Studio augmented reality (AR) free trial program for the Industrial Internet of Things (IoT). The program enables companies to leverage the ThingWorx® Studio AR authoring and publishing tool to rapidly prototype and develop AR experiences that can bring new value to their businesses.

 Is Your Conversation About Managing Assets or Asset Management?

Is Your Conversation About Managing Assets or Asset Management?

The TC251 Committee has recently posted a paper which discusses the difference between Managing Assets and Asset Management. Here is an extract:-

Failure Analysis Starts with Failure Codes

Problem and failure codes give maintenance operations vital insights into corrective maintenance activities. Jump-start your RCM initiative with the industry’s largest Problem–Failure–Action–Cause coding library. Our codes are , so you get deep and precise information about where problems are originating, which components are failing, and which failures are costing the most money.

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Training: Where the Rubber Meets the Road

Training: Where the Rubber Meets the Road

IMC-2016 Maximo Learning Zone 32:44
by Jill Owen, General Motors

Training is one of the key components of success for any company. You can have the best maintenance system in place but if your user community doesn’t understand how to use it, you are doomed to fail. Therefore, it is imperative to understand what business problem you are trying to solve, the importance of training the users to support the maintenance strategy, and how to monitor that the training was successful while focusing on developing an environment of continuous learning. At General Motors, we have faced many obstacles in developing a training strategy for Maximo that aligns with our Global Maintenance Strategy. We have developed different methods of training over time to provide our plants the best chance to be successful. This session will provide insight on how General Motors develops training, what methods we use to deliver the material, how we track progress, and encourage feedback.

Why Have Meetings If They Are the Source of So Many Complaints?

As Winston Churchill once said about democracy, it’s the worst possible system, except for all the others. Consider these alternatives to having a meeting:

  • Phone – a good way to exchange information, except many folks do not answer their phones when you want them to. Sometimes, conference calls work well, although some would just call them meetings by another name, but they introduce their own unique set of problems.
  • E-mail – another way to exchange information, except it can be hard to get people’s attention. Some will not read beyond the first paragraph or so and it is difficult to get the correct read on the person’s tone. Most of all, it is difficult to secure any committed action from an e-mail request.
  • Print and distribute – another tried and true way to communicate, except for the amount of extra work to write up all the issues and the lack of collaboration that goes into the product. This method does have the virtue that reading flyers or other printed summaries can stimulate people to think, if they read them.

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Failure Modes to Failure Codes in Maximo- Part 3

Failure Modes to Failure Codes in Maximo- Part 3

IMC-2016 - 49:58 
by Derek Burley, Blue Sky Reliability Consulting, LLC and John Reeve, Total Resource Management

When organizations wonder why their CMMS contains poor failure data, lacks analytical capabilities and is devoid of any form of failure analysis process, it is because the implementation team assumed the software itself would magically assemble meaningful data to identify worst offenders. Or, it is because the Core Team has not understood the benefits behind chronic failure analysis. Or, it is because the reliability engineer was never involved in the implementation and optimization of the system.
A few months ago, I was told the story of a maintenance engineer who spent 2 months reading through text fields on the work order to glean relevant information to help him identify the key failure modes of the asset in question. So why did this happen? Why weren’t the failure codes properly entered in the CMMS?
There are multiple reasons. But let’s first say this is one of the modern day puzzles within the CMMS community. After 2 decades (based on my field experiences) the majority of all sites - and all industries - have never successfully performed chronic failure analysis by leveraging actionable data direct from the CMMS. This is most unfortunate because 40-60% of all maintenance costs reside in this area.
This 3 hour seminar will involve the audience in a detailed discussion to discover a better solution. Key topic points will include:
Define failure data, failure codes, and failure mode (the language of RCM)
Define the ideal failure analytic, Pareto style.
Define the role of a Reliability Team
Describe how this entire process can be implemented.
Participants will absolutely walk away with an answer to this age old problem. Don't miss out on the largest potential benefit to your CMMS.

 Cohesive Solutions’ Propel Performance Management Solution Awarded at the Solution Awards

Cohesive Solutions’ Propel Performance Management Solution Awarded at the Solution Awards

Cohesive Solutions' Propel Performance Management Solution was awarded for the best in Leadership for Reliability during the Solution Award ceremony at the RELIABILITY conference in Las Vegas.

Failure Modes to Failure Codes in Maximo- Part 2

Failure Modes to Failure Codes in Maximo- Part 2

IMC-2016 - 49:05
by Derek Burley, Blue Sky Reliability Consulting, LLC and John Reeve, Total Resource Management

When organizations wonder why their CMMS contains poor failure data, lacks analytical capabilities and is devoid of any form of failure analysis process, it is because the implementation team assumed the software itself would magically assemble meaningful data to identify worst offenders. Or, it is because the Core Team has not understood the benefits behind chronic failure analysis. Or, it is because the reliability engineer was never involved in the implementation and optimization of the system.
A few months ago, I was told the story of a maintenance engineer who spent 2 months reading through text fields on the work order to glean relevant information to help him identify the key failure modes of the asset in question. So why did this happen? Why weren’t the failure codes properly entered in the CMMS?
There are multiple reasons. But let’s first say this is one of the modern day puzzles within the CMMS community. After 2 decades (based on my field experiences) the majority of all sites - and all industries - have never successfully performed chronic failure analysis by leveraging actionable data direct from the CMMS. This is most unfortunate because 40-60% of all maintenance costs reside in this area.
This 3 hour seminar will involve the audience in a detailed discussion to discover a better solution. Key topic points will include:
Define failure data, failure codes, and failure mode (the language of RCM)
Define the ideal failure analytic, Pareto style.
Define the role of a Reliability Team
Describe how this entire process can be implemented.

Participants will absolutely walk away with an answer to this age old problem. Don't miss out on the largest potential benefit to your CMMS.

Failure Modes to Failure Codes in Maximo- Part 1

Failure Modes to Failure Codes in Maximo- Part 1

IMC-2016 - 45:20
by Derek Burley, Blue Sky Reliability Consulting, LLC and John Reeve, Total Resource Management

When organizations wonder why their CMMS contains poor failure data, lacks analytical capabilities and is devoid of any form of failure analysis process, it is because the implementation team assumed the software itself would magically assemble meaningful data to identify worst offenders. Or, it is because the Core Team has not understood the benefits behind chronic failure analysis. Or, it is because the reliability engineer was never involved in the implementation and optimization of the system.

A few months ago, I was told the story of a maintenance engineer who spent 2 months reading through text fields on the work order to glean relevant information to help him identify the key failure modes of the asset in question. So why did this happen? Why weren’t the failure codes properly entered in the CMMS?

There are multiple reasons. But let’s first say this is one of the modern day puzzles within the CMMS community. After 2 decades (based on my field experiences) the majority of all sites - and all industries - have never successfully performed chronic failure analysis by leveraging actionable data direct from the CMMS. This is most unfortunate because 40-60% of all maintenance costs reside in this area.

This 3 hour seminar will involve the audience in a detailed discussion to discover a better solution. Key topic points will include:

Define failure data, failure codes, and failure mode (the language of RCM)

Define the ideal failure analytic, Pareto style.

Define the role of a Reliability Team

Describe how this entire process can be implemented.

Participants will absolutely walk away with an answer to this age old problem. Don't miss out on the largest potential benefit to your CMMS.

Asset Management in the Era of the Internet of Things

Asset Management in the Era of the Internet of Things

Before addressing the way asset management changes in the Internet of Things (IoT) era, it is worth summarizing what has happened since information technology (IT) became one of the main forces influencing the global economy and the competition.

 Siemens Launches New Business to Digitalize the U.S. Rail Industry

Siemens Launches New Business to Digitalize the U.S. Rail Industry

IoT platform virtually monitors, analyzes and predicts rail operations for smarter, safer and more reliable systems

Industry-leading technology guarantees 100% availability of rail assets

Siemens to partner with Atlanta on operational insights for downtown streetcar and Charlotte on pilot program for prescriptive maintenance

A New Context: The Industrial Internet of Things

A New Context: The Industrial Internet of Things

IMC-2016 RAP Talk - 20:12 
by John Murphy, Reliabilityweb.com

What is the Industrial Internet of Things? In this RAP Talk from IMC-2016, John Murphy breaks the term down by explaining the various pieces of it. According to Murphy, the new context is Industrial Internet of Things is part of asset management. Asset managers must be thinking about that as they make any investment going forward.

Tethered Drones in Enterprise Asset Management?

Tethered drones offer the industrial sector a different vantage point when it comes to EAM.

Does drone mania have your head spinning like a propeller?

Six out of 10 active drones today are used in

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 April - May 2017

April - May 2017

Click to read all articles from this issue. You can also download the full PDF.

Asset Management: Buzzword or VALUE Creator?

Asset Management: Buzzword or VALUE Creator?

Asset management is the science of making the right decisions and optimizing the delivery of value.
Is asset management (AM) a new buzzword or a “flavor of the month” management initiative? AM is becoming a frequently used term in the industry around the world. It is a term being used more frequently by engineers, designers, facility planners and regulators, as well.

The NEW Asset Management Passports for Uptime Elements

The NEW Asset Management Passports for Uptime Elements

IMC-2016 - 37:59
by Rhys Davies and Claire Gowson, Discursive

In this presentation from IMC-2016, Rhys Davies and Claire Gowson outline the history and intention behind the new asset management passports for the Uptime Elements. When creating the new elements, they wanted them to do two things. The first was to introduce a new block of elements, which describe the processes and provide additional connections between various elements. The second was to provide a visualization of the process elements into an asset management framework. Learn more by watching this video.

Maximo Asset Management, Made Simple

Maximo Asset Management, Made Simple

This document provides insights from a maintenance perspective, the day-to-day user of the system and the information contained within it. Identifying all maintainable assets and their physical locations are critical to the maintenance function. From this functionality, data to identify the required maintenance strategies, develop logical maintenance routes and identify routine spare parts can be understood.

 Bentley Systems Issues Call for Submissions to the 2017 Be Inspired Awards

Bentley Systems Issues Call for Submissions to the 2017 Be Inspired Awards

Year in Infrastructure 2017 Conference Being Held in Singapore, a City Recognized Globally for BIM Advancements 

 Roborace Becomes First Company in Driverless History to Race Two Cars Simultaneously

Roborace Becomes First Company in Driverless History to Race Two Cars Simultaneously

Roborace, the driverless, electric racing series, today completed a world first by performing the first ever live demonstration of two driverless cars on the track at the same time. The demonstration took place using Roborace’s development cars ‘DevBot 1 and 2 on the city streets of Buenos Aires.