Inspection
Work Planning
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A systematic approach to monitoring, analyzing and optimizing asset performance to improve reliability, safety and business value throughout the asset lifecycle.
Asset Performance Management (APM) is the coordinated application of engineering practices, asset health monitoring, inspection, maintenance, reliability analysis and predictive analytics to maximize the availability, reliability, safety and economic performance of physical assets. It combines asset information with operational and condition data to support risk-based decision-making.
APM enables organizations to reduce unplanned downtime, optimize maintenance expenditure, improve equipment reliability and extend asset life through data-driven decision-making.
Asset Performance Management integrates information from Enterprise Asset Management, Mechanical Integrity, Condition Monitoring, Risk-Based Inspection and Digital Twin technologies to improve lifecycle performance.
Asset Performance Management should not be confused with Enterprise Asset Management. EAM manages work processes and maintenance execution, while APM focuses on optimizing asset reliability and performance using engineering and operational information.
Reliability engineering; Predictive maintenance; Condition monitoring; Enterprise Asset Management; Digital Twins; Industrial analytics.
Monitoring equipment health using condition data.; Prioritizing maintenance based on asset risk.; Predicting equipment failures using analytics.; Optimizing inspection intervals through asset performance analysis.
ISO 55000; ISO 14224; ISO 13374; API RP 580; API RP 581
VisualAIM connects glossary concepts to the asset records, inspection histories, and workflows they describe.
