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The Future of Asset Condition Monitoring Management

The Future of Asset Condition Monitoring Management

The RELIABILITY Conference Uptime Elements Forum – 44:08 
by Jack Nicholas, Author

There is 4th paradigm shift developing in the way organizations handle Asset Condition Monitoring (ACM) (formerly called Predictive Maintenance – PdM – before the ISO 55000 series Asset Management standards were issued in 2014. This shift follows previous major changes in ACM/PdM programs: the first, when equipment went from heavy, cart-transportable packages for data collection and some analysis (1980’s) to microprocessor-based hand-held packages; and the second, when field-portable laptop computers and desktop personal computers with robust software programs and substantial memory capacity came into use (1990’s). Together they transformed collection, storage and analysis of data for asset condition monitoring and prediction. The third shift began with the application of wireless technology to condition data collection and the introduction of highly sophisticated analysis software programs and integration of data from multiple technologies for management, reporting and focusing of maintenance actions on improving asset performance and availability. The latest (fourth) shift involves use of the internet of things (IoT), cloud computing, ‘Big Data’ management, analytics and communications using tablet computers and cellular fourth generation (4G and in a few years 5G) long term evolution (LTE) technology.

This presentation will project into the future to show where ACM/PdM is headed. It builds on a previous prognosis published in 2007 that has proven about 75% correct after almost 10 years.

Actual examples of achievements of leading practitioners, suppliers and organizations in the field of ACM/PdM will be presented to show what the path forward looks like as of 2016 for the next 6 to 7 years.

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