APM 2.0 is an intelligence-based approach to continuously improve asset performance. APM 2.0 is implemented to achieve one or more strategic goals, e.g. improving RONA (return on net assets), removing unplanned downtimes and decreasing regulatory risks.
APM 2.0 is not a one-time initiative but a continuous improvement, cross-functional process across the enterprise that encompasses asset lifecycle management, asset intelligence management and industry standard data models for acquisition, storage, sharing/communication and extracting intelligence from asset data.
Multiple stakeholders (e.g. operations, IT, maintenance, finance) are involved in a collaborative manner during the implementation of APM 2.0, but the department/division with maximum stake/investment in realizing the goals must be the owner/driver.
Collaboration can be enhanced using tools such as the RACI diagram that identify conflicts in the roles and responsibilities to be resolved during implementation.
APM 2.0 implementation must drill down strategic goals into tactical and operational components/metrics tracked in real-time. Establishing a practically viable, bi-directional traceability between the strategic and operational levels is necessary to successfully track and achieve strategic goals.
Date Published: April 2017
- Mike Williams
- Ananth Seshan, Fifth Generation Technologies India (P) Ltd.
- Karen Smiley
- Peter Matthews, Durham University
- Jim Toman, Grantek
- Dennis Brandl, BR&L Consulting
- Eric Cosman, OIT Concepts LLC
- Mark Spafford, Anchorage Water and Wastewater Utility
- Kevin Christenson, Ford Motor Company
- Glen Green, Ford Motor Company