Good Asset Information Maximizes Asset Performance
Reliable, high performing, capital assets are the lifeblood of today’s technological economy. Staggering sums are spent each year to build, operate, and maintain these critical investments. Organizations need a strong asset management program to ensure that expected benefits are achieved.
Asset information is a quintessential part of every successful asset management program. Organizations need Asset Information Management (AIM) to ensure that this vital resource is fully leveraged in driving higher asset performance.
Organizations that lack good AIM programs incur significant losses. ARC estimates the impact of these problems for a typical asset-intensive organization to be 1.5% of sales revenues. Poor AIM also increases the risk of safety, health, and environmental incidents.
While the opportunity for improvement is incredible, many organizations continue to suffer the pains of poor AIM. Some don’t recognize the opportunity. Others understand that they have problems, but don’t know how to solve them or can’t justify the required investments.
This report provides guidance to help all of these organizations. It clearly identifies the challenges, provides models to analyze an organization’s AIM losses, and offers specific advice on what organizations can do to build an effective AIM program. This report also includes chapters on the associated challenge of information handover. Poor handover can reduce ROA by 2.5% and limit asset performance throughout its lifetime. Guidance is provided for assessing losses, establishing good handover processes, and selecting IT solutions.
Strategic Issues
Owner/operators and solution providers alike have significant opportunities in AIM. Owner/operators can reduce risk and gain improved asset performance. Solution providers can leverage existing capabilities in new, expanded markets. This report provides answers for questions such as:
- How is AIM different from other information management challenges? How is it the same?
- What does a good AIM strategy and technology solution look like?
- How can I leverage existing IT investments in meeting my AIM needs?
- What standards and technology should I consider in my AIM strategy? How do I implement them across my organization?
- How can I rollout my AIM program to every facility in my enterprise?
