Strategy

Asset Performance Management

Strategy

A risk-based maintenance approach to manage and optimize asset strategies at a system, fleet, and enterprise level.

Asset Strategies

Overview

Trim your O&M expenses and boost profits

APM Strategy is a collection of integrated tools within GE Vernova’s Asset Performance Management (APM) that helps users to:
  • Prioritize overall asset strategy investment allocation based on asset criticality, risk, and operating context
  • Ensure optimal asset performance, mitigate costly unplanned failures, and improve overall safety of the plant
  • Build a sustainable, closed-loop continuous improvement cycle to control and improve asset strategies
Key work processes in APM Strategy include:
  • Assess Criticality of Assets
  • Identify Risks and Mitigating Actions
  • Optimize Mitigation Strategies for Risk and Cost
  • Manage and Implement Asset Strategies
  • Drive Corrective Actions and Continuous Improvement
Asset Strategy

Asset Strategy Outcomes

  • Reduce unplanned downtime and increase asset availability by monitoring critical assets
  • Minimize costly reactive emergency repairs by detecting problems early
  • Optimize spare parts inventory and holding costs
  • Protect the health and safety of employees by reducing asset related incidents
  • Improve workforce productivity and effectiveness
  • Extend asset life and improve overall Return on Assets (ROA)
  • Enable compliance with ISO 55000 standards

Customer Story

Learn how SOCAR Türkiye reduced reactive maintenance by 20% and inventory costs by 7%

Asset Strategy Outcomes
Asset Strategy Outcomes

Asset Strategy Outcomes

  • Reliability Centered Maintenance (RCM): Designed to help reduce the effects of functional failures at the system level.
  • Failure Modes And Effects Analysis (FMEA): Facilitates the identification and mitigation of critical failure modes defined at the equipment level.
  • Asset Strategy Management (ASM): Evaluate existing plans with basic qualitative risk analysis.
  • Asset Strategy Optimization (ASO): Extends qualitative risk/cost analytical capabilities through advanced, quantitative strategy modelling and Monte Carlo simulation.
  • Asset Strategy Implementation (ASI): Build implementation packages containing maintenance plans and items, task lists, and operations that can be linked in SAP.
Asset Strategy Accelerators

Asset Strategy Accelerators

Asset Strategy Accelerators are a collection of predefined templates that contain the known failure modes and prescribed mitigating actions for specific asset or equipment types. Besides critical assets, predefined strategy templates are also available for Balance of Plant (BoP) assets that include various supporting and auxiliary equipment such as rotating, mechanical, electrical, safety, and controls. Currently, our library has over 860 maintenance templates catering to the energy markets.

Benefits include:

  • Rapid deployment and standardization of best practices across the enterprise
  • Thousands of hours of embedded subject matter and domain expertise
  • Reduce plant personnel and resources required to perform strategy development and configuration
  • Accelerate customer time to value
Resources
FAQs
Customer Stories

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