It could be that your assets are working, unplanned downtime is acceptable, but you know that asset performance can be optimized, and should be optimized to reach business targets. In this case, you would want to establish a Reliability Centered Maintenance (RCM) strategy. This proven method is already many years old but the access to new, relatively cheap and better technology have given RCM a second life.
The biggest benefit of a RCM program is cost reduction through efficient maintenance methods, which are endorsed through EAM and APM solutions and access to OT data. Companies that successfully implement RCM see reduced maintenance and resource costs as well as increases equipment availability. Because criticality is determined through FMEA, a greater understanding of risk levels and consequences are established and limited resources can then be focused on assets that if failed, would cause the most disruption.