1. Know the Health of Your Assets
Asset health is not only about condition, but also the extent to which an asset delivers the required performance now and in the future. This applies to the RAMS preconditions: reliable, available, maintainable and safe (RAMS). Gaining insight into asset health, therefore, means getting insight into these RAMS conditions. If we relate this to the overall asset portfolio, it is also important to add criticality. In other words, understanding asset health is more important for critical assets than for non-critical assets. A workable model for asset health is:
- Technical condition: where is the asset on the degradation curve and to what extent can the asset deliver the requested performance?
- Performance: How certain is it that the asset can deliver its performance? What are availability and reliability?
- Compliance: To what extent are internal and external regulations met?
- Life cycle: In what stage of the life cycle does the asset reside? Are spare parts still available? Is lifetime extension required? How does the asset family (similar assets) perform?
- Asset criticality: What is the effect of asset failure? It is important to minimize the risk of occurrence for assets with a large effect of the failure? For this reason, understanding asset health is crucial.
2. Smart Use of Data
As the above figure of the asset knowledge triangle shows, we can make the triangle larger by making better use of available data to better understand our assets (Reliability Engineering). As far as the data is concerned, we often see that not all available data is used. Typical systems managing asset data include maintenance management systems (CMMS ,EAM), and systems used by other departments (ERP, PLC, Historian, alarm databases, GIS, planning, etc.). Modern technologies enable us to bring all data from those systems together on a platform; creating a comprehensive overview. Our main tip is to focus on the foundation first before taking a next step; keep your data organized as data accuracy and completeness are essential.