Maximizing Asset Performance: The Importance Of Implementing An Effective Asset Integrity Management Programme

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Maximizing Asset Performance: The Importance Of Implementing An Effective Asset Integrity Management Programme

Assets are the backbone of any industrial firm, and their performance plays a crucial role in determining the overall efficiency and profitability of the business. Increasing pressures to deliver on net zero commitments and the impact of recent geopolitical conflicts have intensified the importance of managing assets effectively for optimized performance, meeting volatile demands, and ensuring safe, secure and environmentally responsible operations. In response to these challenges, organizations are turning towards asset integrity management (AIM) solutions to safeguard their assets. AIM solutions aim to enhance plant dependability and safety while lowering unexpected maintenance costs through a combination of predictive analytics, condition monitoring, and asset maintenance strategies. In the recent Verdantix operational excellence global corporate survey, 34% of the 301 respondents disclosed plans to invest in AIM software in 2023, the highest out of all asset-management-related solutions.

Vendors such as AVEVA, Cenosco and GE Digital offer strong AIM software modules. AVEVA’s Mobile Operator tool reduces risk by equipping fieldworkers with asset information such as operating history, thus improving availability, productivity, safety and compliance. In partnership with Shell, Cenosco developed its Integrity Management Solution (IMS), a cloud-based, mobile-friendly predictive maintenance software that uses risk-based inspection methodologies and corrosion calculations to manage equipment integrity. GE Digital’s APM Integrity solution enables the calculation of risk and remaining useful life of assets to produce optimized inspection strategies while streamlining auditability and compliance governance.

By deploying an AIM solution, firms optimize safety and operations throughout the entire asset lifecycle. With a structured integrity management plan, personnel buy-in and governance, organizations can identify and manage critical assets, minimize the risk of failures, extend useful lifecycles and reduce the cost of ownership. 

To understand more about the capabilities of AIM software providers, please read the Verdantix Green Quadrant: Asset Performance Management Solutions 2022 report.

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Kiran is an Industry Analyst in the Verdantix Operational Excellence practice. His current research agenda focusses on emerging solutions and global market trends across the process industries. Prior to joining Verdantix, Kiran worked at Siemens PSE where he gained experience in advanced process modelling and digital twin technologies. Kiran holds a MEng in Chemical Engineering from the University of Nottingham.