Asset performance management (APM) is a decision-making process to manage assets and improve asset efficiency, availability, reliability, maintainability, and overall lifecycle value while reducing downtime (opens in new tab). The APM process begins when an asset is in the design stage and continues through its entire lifecycle to measure, monitor, and improve its reliability, availability, maintainability, and safety.
A variety of industries and organizations use asset performance management solutions, including:
The steps involved in APM are detailed below:
Here are a few benefits of using APM:
Below are some tips to keep in mind when using APM to improve your assets' efficiency and reliability.
Asset performance management (APM) is a subset of enterprise asset management (EAM) that focuses on monitoring and improving the performance of individual assets. EAM is defined as the process by which an organization manages its capital resources, including people, technology, and financials. This includes everything from buying new equipment to managing contracts for services. APM uses data gathered from EAM to make decisions about how to optimize the use of individual assets.
Asset performance management is a decision-making process to manage assets and improve asset efficiency, availability, reliability, maintainability, and overall lifecycle value. The APM process begins when an asset is in the design stage and continues through its entire lifecycle to measure, monitor, and improve its reliability, availability, maintainability, and safety. It employs data analytics to monitor asset utilization, maintenance costs, equipment failure, predictive maintenance, asset health, lifecycle, reliability, and more.
Leverage the cloud to work together, better in the new connected age of maintenance and asset management.