Asset Strategies

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.

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

  • One Active Strategy record
  • 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 APM basic components, which are represented by the blue boxes.



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

About Recommended Actions in ASM

Recommended Actions are used in ASM to provide up-to-date information regarding how a strategy is performing. They provide the basis for any modifications necessary to keep the strategy optimized and current.

Recommended Actions provide the greatest value when the user is in the Actions page. The user can compare the findings from the inspector or engineer with the strategy Actions, to determine if the Tasks derived from those Actions are effective.

Tip: For information about additional options available when working with the Recommendation records, refer to the Action Management section of the documentation.

Access an Asset Strategy

Procedure

  1. Access the ASM Overview page.
  2. Select the Asset Strategies tab.
    The Asset Strategies section appears, displaying a list of available asset strategies.
  3. Select the strategy that you want to manage.
    The Strategy Details page for the strategy appears.
    Note: Health status and criticality status indicators appear in the Strategy Details workspace. You can select the Health icon (for example, ) to access the health summary for the asset in a new page, and you can select the Criticality icon (for example, ) to access the ACA for the asset in a new page. If the asset strategy has no linked Health Indicator or ACA records, no indicators will appear on the strategy.

Access a Master Strategy Template

Procedure

  1. Access the Asset Strategy for which you want to access the associated master strategy template.
    The workspace for the selected asset strategy appears.
  2. In the workspace, select , and then select Go To Master.
    The workspace for the master strategy template associated with the select asset strategy appears.
    Note: The Go To Master option does not appear if the selected asset strategy is not associated with a master strategy template.

What To Do Next

Create a Strategy

Procedure

  1. Access the ASM Overview page.
  2. In the page, select , and then select Create Asset Strategy.
    The Enter Parameter Values window appears.
  3. In the Asset section, select .
    The Hierarchy window appears, displaying the asset hierarchy.
  4. Select a hierarchy level associated with the asset to which you want to assign a strategy, and then select Done.
    Note: You can search through both Hierarchy and Groups by selecting the respective tabs in the Hierarchy window.
    The assets associated with the hierarchy level appear in the Select Asset window.
  5. Select the asset to which you want to assign a strategy, and then select OK.
    The Strategy Details workspace appears, displaying the datasheet for the strategy.
  6. As needed, enter values in the available fields.
  7. Select .
    Your strategy is created and saved.

What To Do Next

Activate an Asset Strategy as Baseline

Before You Begin

This topic assumes that you have a pre-existing asset strategy in the Draft state.

Tip: Reference the following topic if you want to create a new asset strategy before you start this set of instructions.
There are two activate operations in ASM:
  • Baseline: This is mostly used to approve existing strategies for assets without going through the Pending Review state.
  • Propose: This allows the asset strategy to go through a review workflow so that the strategy can be modified before it is activated.

Procedure

  1. Access an asset strategy.
  2. Select the asset strategy you want to activate as Baseline.
    The Strategy Details workspace for the selected asset strategy appears.
  3. In the workspace, select , then select Baseline, and then select Done.
    A window appears, asking you to confirm the proposed changes to the strategy.
  4. Select Yes.
    You will receive a notification that the strategy is activated.

Save a Strategy as a Template

Procedure

  1. Access an asset strategy.
  2. Select the asset strategy which you want to save as a template.
    The Strategy Details workspace for the selected strategy appears.
  3. Select .
    A template is created based on the strategy and a new tab appears containing the details for the new template.
    Note:
    • A strategy can only be saved as a template if its state is Active.
    • The secondary actions that are defined for the actions in the strategy are also applied to the template.

Delete an Asset Strategy

Procedure

  1. Access the ASM Overview page.
  2. Select the Asset Strategies tab.
    The Asset Strategies section appears, displaying a list of available asset strategies.
  3. Select the row containing the asset strategy that you want to delete, and then, in the upper-left corner of the section, select .
    The Confirm Delete dialog box appears, asking you to confirm that you want to delete the asset strategy.
  4. Select Yes.
    The asset strategy is deleted.
    Note: You can also delete the strategy using the delete button () while viewing the strategy that you want to delete.

Remove a Master Strategy Template

Procedure

  1. Access the Asset Strategy from which you want to remove the associated master strategy template.
    The workspace for the selected asset strategy appears.
  2. In the workspace, select and then select Remove From Master.
    A Confirm Remove from Master dialog box appears, asking you to confirm that you want to remove the asset strategy from the master strategy template.
    Note: The Remove from Master option does not appear if the selected asset strategy is not associated with a master strategy template.
  3. Select Yes.
    The association with the master strategy template is removed.

Export an Asset Strategy

Procedure

  1. Access the ASM Overview page.
  2. Select the Asset Strategies tab.
  3. Select one or more strategies that you want to export.
    The selected strategies are highlighted.
  4. Select , and then select Export.
    The Export to a File window appears.
  5. In the Please provide a File Name box, enter a file name for the export.
  6. Select Export.
    The Jobs Log page appears, displaying a list of jobs in progress, including the export job that you have initiated just now. After the asset strategies are exported to an Excel workbook, the job appears in the Successful section.
    Tip: Even if you close the Jobs Log page, the export will happen in the background. You can reopen the Jobs Log page by selecting and then Export History.

Access Recommended Actions in ASM

Procedure

  1. Access the ASM Overview page.
  2. Select the Asset Strategies tab.
    The Asset Strategies section appears, displaying a list of available strategies.
    Note: You can access Action Management by selecting , and then selecting Action Management from the Asset Strategies section.
  3. Select the asset strategy from which you want to access recommended actions.
    The Asset Strategy workspace appears.
  4. Select .
    The Recommended Actions pane expands.
    Tip: For information about additional options available when working with recommendation records, refer to the Recommended Actions section of the documentation.

Access Reference Documents

About This Task

In the Asset Strategy module, you can add Reference Documents to the following record types:

  • Asset Strategies
  • Actions
  • Risks
  • System Strategies

Procedure

  1. Access a datasheet for the record type to which you want to add a Reference Document.
  2. Select , and then select Reference Documents.
    The Reference Document workspace appears.
    Tip: For more information, refer to the Manage Reference Documents section of the Record Manager module for additional options when working with reference documents.