Introduction

Asset Performance Management (APM) strives to optimize the performance of production assets across several areas:

• Production throughput and efficiency
• Process safety
• Asset integrity
• Reliability and availability
• Sustainability

Balancing the needs of each area is a multidimensional task that must take into account varied and sometimes conflicting business drivers.  Asset health can contribute to refining the asset strategies by measuring actual conditions and identifying early signs of deterioration.  Asset health may be used to monitor operating conditions in order to prevent unwanted downtime or production constraints

To achieve optimum asset performance – or Operational Excellence – the different area objectives for each asset need to be clear. In each area, a target performance may be defined which reflects a best practice level.  Content like Asset Health Indicators can also expedite implementation of technology like OESuite®.   Asset health synthesizes asset data sources into asset health information and provides actionable intelligence for asset management via a dashboard – providing a cockpit for reliable operations. 

This white paper discusses what an integrated view of asset health looks like along with how to implement it.