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ACHEMA, held every three years in Germany, is the world's largest and most important event for the process industries. Topics covered include process engineering, laboratory technology, plant engineering and construction, instrumentation, control, and automation, and I -- in recent years -- the cross-topical themes of biotechnology and environmental protection.
In the hall dedicated to instrumentation, control, and automation solutions, the industry associations, ZVEI and NAMUR, in collaboration with ARC Advisory Group, organized a series of presentations and panel discussions that were open to the general public. In this ARC Insight, we review the takeaways from the session on information-driven asset performance in the critical operate and maintain phase of the asset lifecycle.
Asset Lifecycle Management's Principles and Goals
Physical assets used in the process industries can range in scope and size from a single instrument or controller to a full plant or multi-plant complex. These assets represent a significant investment and it is generally accepted that their respective lifecycles must be managed to achieve optimal return. As discussed in detail in previous ARC reports, overall as-set lifecycle management (ALM) involves a set of interconnected, iterative processes:
- In the design and build phase of a project, programs are managed for project performance (PPM).
- During the much longer operate and maintain (O&M) phase, the process focuses on asset performance management (APM).
- Asset and project portfolio management (APPM) aligns the overall portfolio of investments in assets with the company's strategic objectives.
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Keywords: Information, Condition Monitoring, Predictive Analytics, Asset Lifecycle Information Management, ACHEMA, Mobility, Industrial Internet of Things (IIoT), ARC Advisory Group.