What Is Total Asset Performance Management?

Asset performance management (APM) systems act to improve the reliability and availability of physical assets while minimizing risk and operating costs. ARC defines asset performance management (APM) to include five key domains: plant asset management (PAM), asset reliability, enterprise asset management (EAM), field service management (FSM), and asset integrity management (AIM).

Plant Asset Management: PAM systems are a combination of hardware, software, and services intended to assess the health of plant assets by monitoring asset conditions to identify potential problems before they escalate. PAM provides predictive asset health information by using data embedded in smart field devices, control systems, and various sensors with an intelligent analytical engine to predict potential asset problems. PAM solutions monitor automation and rotating equipment, along with virtually all assets installed on the plant floor.

Asset Reliability: Asset reliability solutions enable manufacturers to consistently achieve higher levels of operational efficiency and safety by balancing costs and risk to optimize safety and benefits. Reliability solutions apply analytics to EAM system data and data historians to assess risk and identify opportunities for improvement in operations and maintenance.

Enterprise Asset Management: EAM provides the visibility required to manage assets and operations within an organization. The key functional areas include asset information, work orders, MRO materials, labor skills, service contracts, finance, and analytics.

Field Service Management: FSM is used to provide maintenance services to asset owner-operators. Generally, the user is a service company that provides maintenance services to customers who are usually under a contract. “Field” refers to places other than the central site. “Service” refers to engaging with a third party for maintenance. This application type also includes suppliers of specialized equipment that also offer maintenance.

Asset Integrity Management: AIM refers to the software and services utilized in systematic and coordinated activities involved in preventing the catastrophic release of hazardous material or energy. AIM ensures the availability of critical safety systems to mitigate the effects of such events while protecting health, safety, and environment.

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