Green Quadrant: Asset Performance Management Solutions 2022
Verdantix, an independent research firm, has recognized Cenosco for surpassing the boundaries of their expertise in Asset Integrity Management (AIM) and entering the Asset Performance Management (APM) market. In their recent Green Quadrant: Asset Performance Management Solutions 2022, they recognized two of their IMS Suite solutions, both IMS PEI and IMS SIS were highlighted in the report as key elements of a process safety program.
AIM vs APM
The key differences in these markets come down to functionality. An AIM solution will help you manage your assets’ integrity by predicting or planning effective maintenance or inspection plans. An APM on the other hand looks at the overall performance of an asset within a system. Learn More.
Top Capabilities in Asset Performance Management
In the report, Verdantix compared 15 software vendors across 32 categories spanning technical and functional capabilities and market momentum. The report quantified the vendors’ positions in each category using data provided by each vendor, gathered from a 206-point questionnaire and a 2.5-hour live demo. Additionally, Verdantix interviewed 10 asset performance management (APM) software users and included insights from its global survey of 256 operations, maintenance, and engineering professionals.
Cenosco’s top three capabilities as outlined by the report were as follows:
Verdantix cited IMS’s hazard analysis and failure impact assessment capabilities, naming IMS SIS’s support of the full safety life cycle, from design to maintenance. Integrated Hazard and Operability (HAZOP) and Layers of Protection (LOPA) studies ensure Safety Integrity Level (SIL) allocation is based on sound risk analysis before the Safety Instrumented Function (SIF) is designed and proof testing programs are implemented. Additionally, on the pressure equipment side, IMS PEI provides advanced calculations and guidance inside a Risk-based Inspection (RBI) module, ensuring the consequence of a given failure scenario is accurately determined. Cenosco scored the second-highest score in the whole category.
Here Verdantix considered things like:
- What functionality is available to support a quantitative assessment of the risks of asset failure in terms of fatalities, injuries, and environmental damage?
- What functionality is available to support hazard analysis?
Asset integrity management
IMS PEI offers a wide set of tools for streamlining inspection program management, including offline mobile capabilities, 3D visualizations, a risk-based inspection module, and a degradation management framework. Through the degradation management framework, users can manage barriers and historian-linked IOWs. Inspection prioritization is facilitated by applying Shell’s risk-based inspection (RBI) methodology, augmented by advanced corrosion calculations. The platform’s configurable dashboards enable clear data visualization for efficient decision-making. Cenosco finished the category with a score above the average provider.
Here Verdantix considered things like:
- What functionality is available to design and improve the scheduling of operator rounds and streamline data collection?
- What functionality is available to improve the planning, efficiency, and effectiveness of inspections?
- What functionality supports integrity operating window (IOW) programs?
Asset lifecycle management
IMS PEI allows for advanced lifecycle cost calculations by combining pre-defined production loss equations, replacement cost, and maintenance/inspection data. This provides users with data-driven insights to aid investment decisions. Similar cost lifecycle evaluations are also integrated into the capabilities of IMS Civil and IMS RCM. Furthermore, IMS also offers the Manage Equipment Care (MEC) Board, a tool that supports asset strategy optimization activities by pinpointing improvement opportunities. Cenosco tied for second place in the highest rank for the category.
Here, Verdantix considered criteria including:
- What functionality is available to support lifecycle cost analysis?
- What functionality is available to support decisions on asset lifecycle optimization in the context of long-term asset purposes?
Advice from Verdantix
In the report, Verdantix advises that CTOs and COOs should consider shortlisting Cenosco for robust asset integrity solutions. Backed by Fortino Capital and a Shell partnership, Cenosco is well-positioned to guide oil and gas firms in addressing asset integrity challenges. Furthermore, high-risk firms can enhance risk management using Cenosco’s IMS suite. Proven successes like Tüpraş’s safety instrumented functions and Cenosco’s distinctive failure-rate data from Shell highlight its proficiency in risk mitigation.
“Cenosco recognizes the need for process-intensive industries to meet and exceed safety, compliance, and efficiency standards, while delivering industry-leading expertise”
Senior Analyst in the Verdantix Operational Excellence
IMS PEI helps organizations manage the integrity of various types of pressure and civil equipment used in manufacturing and upstream operations. It improves asset reliability and uptime by also facilitating data integration, performance efficiency, and asset lifecycle management. It helps reduce maintenance-related costs through effective inspection planning and risk-based inspection methodology. By optimizing inspection schedules, and addressing maintenance needs in a timely manner, organizations can prevent costly breakdowns and unplanned downtime. IMS PEI also contributes to sustainability efforts by promoting proactive maintenance and reducing the likelihood of equipment failure, minimizing the need for emergency repairs, and extending the lifespan of assets.
IMS SIS offers an end-to-end Safety Life Cycle analysis, ensuring the proper functioning of safety systems to improve asset reliability and uptime. It performs safety instrumented functions (SIF) to prevent unsafe process operations in the presence of hazardous conditions, reducing the risk of costly failures. Additionally, IMS SIS helps companies reduce maintenance-related costs through streamlined safety studies and design processes, providing a centralized platform for safety-related activities, and identifying potential hazards in processes.
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