Managing Strategies by Using Risk-Based Approach
APM Strategy provides a common methodology to develop and manage asset strategies by using a risk-based approach to conduct analysis of individual assets, a group of assets, or an asset system. By balancing risk, production goals, and resource investment, APM Strategy allows asset-intensive organizations to focus costs on the most critical assets, thereby reducing maintenance and inventory costs, increasing availability and reliability, and moving away from reactive maintenance practices to a proactive approach.
APM Strategy can help your business:
- Analyze: Identify potential failures of individual assets and entire systems, reducing unplanned downtime
- Determine: Perform optimal maintenance, inspection, or redesign activities, while most effectively balancing risk and costs
- Optimize: Implement strategies based on failure modes and effects analysis (FMEA), predictive analytics, health indicators, policies, and reliability analyses
- Develop: Create strategies in various work management and control systems for complete integration and improved productivity