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Asset Performance Management

Discover how Asset Performance Management within Asset Integrity Management improves operational excellence and asset lifetime.

2 May '24

sunset behind oil plant

Asset Performance Management (APM) refers to a set of strategies and technologies directed at maximizing the efficiency and effectiveness of assets throughout their lifecycle. This methodology involves monitoring asset health, predicting possible failures and optimizing maintenance schedules to minimize downtime and maximize productivity.

While APM primarily focuses on performance optimization, it’s important to differentiate it from Asset Integrity Management (AIM), which prioritizes ensuring assets operate safely and reliably.

Why is Asset Performance Management (APM) important?

The importance of APM extends across many industries such as Oil and Gas, Chemicals, Pulp and Paper and more.
The Oil and Gas Industry particularly emphasizes its implications, where asset reliability directly impacts operational efficiency and profitability.

These solutions provide companies with indispensable insights into the health of their assets – allowing proactive maintenance interventions. By proactively addressing issues and optimizing maintenance schedules, companies can minimize expensive and unplanned downtime and avoid related risks, ensuring smooth operations and maximal productivity.

Additionally, Asset Performance Management (APM) enables organizations to make data-driven decisions improving overall asset performance fostering long-term success.

How is APM different from AIM?

While APM offers valuable functionalities for optimizing asset performance, it’s essential to recognize that ensuring asset integrity is the core of operational excellence. AIM ensures that.

Asset Integrity Management (AIM) goes beyond basic performance optimization; it prioritizes the safety, reliability, and regulatory compliance of assets throughout their lifecycle.

Best of both worlds

Cenosco’s IMS Suite is a group of integrated software solutions designed to support various equipment types and operations within asset-intensive industries. This suite offers a wide range of features that improve asset integrity management, reliability, and safety instrumentation. In recent Verdantix’s Green Quadrant assessment, Cenosco was recognized as an emerging APM for robust asset integrity solutions. In the report, Verdantix advises that CTOs and COOs should consider shortlisting Cenosco for robust asset integrity solutions. This comes down to their IMS Suite’s ability to support users in making smart inspections and maintenance decisions to increase safety, maximize asset availability, and optimize asset management costs 

IMS offers a unique perspective on asset integrity as well as comprehensive solutions adapted to the requirements of the Oil and Gas Industry. Similar industries, such as Chemical Manufacturing and Renewable Energy, also use these practices, making IMS an excellent choice for businesses operating in asset-heavy industries.

By integrating APM functionalities within an AIM framework, IMS empowers organizations to achieve operational excellence, minimize risks, and maximize the lifetime of their critical assets.  

So, if you’re seeking a solution that prioritizes asset integrity without compromising on performance optimization, IMS is the answer. Verdantix’s Exclusive Report has recognized Cenosco for incorporating extensive asset integrity knowledge into IMS Suite, highlighting its position as a leading solution for the energy and petrochemical industries. Moreover, providing detailed overview of assets and a thorough understanding of failure mechanisms and maintenance techniques, making it a perfect choice for organizations seeking to enhance safety, reliability, and operational efficiency.  

Want to learn more about IMS?

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