About Asset Strategies

An asset strategy is the combination of actions and risks that are associated with a piece of equipment or location. An asset strategy consists of the following:

Multiple Risk records, which represent ways in which the piece of equipment or location can fail.
Multiple Action records, which represent the physical actions that you want to perform to maintain the piece of equipment or location.
Multiple Risk Assessment records, which represent the risk rank associated with a failure.

The first step in building an asset strategy is to create an Asset Strategy record. You can then further define the asset strategy by adding risks and actions. After your database contains one or more asset strategies, you can build system strategies. Then, you can build unit strategies.

As shown in the ASM data model, each Asset Strategy record is linked directly to:

One Active Strategy record.

-and-
One Proposed Strategy record.

The Active Strategy record and the records to which it is linked represent the strategy that you are currently using to maintain the piece of equipment or location. Likewise, the Proposed Strategy record and the records to which it is linked represent the strategy that you want to start using to maintain the piece of equipment or location.

In other words, for each asset strategy, there is always one active strategy and one proposed strategy.

The following image shows an illustration of how the steps in the Asset Strategy Work Process relate to one another. Each step in the work process is represented by a green circle. In addition, you can see that the entire work process is built upon the GE Digital APM basic components, which are represented by the blue boxes.

Within the GE Digital APM product, each of the steps listed above can be accomplished using one or more of the following modules: