Visualize Asset Performance Management

Maximize return and reduce risk across the asset lifecycle with a Digital Twin

Posted: July 19, 2019

Asset Performance

Visualize Asset Performance Management

We live in a world that is being flooded with 2,500,000 terabytes of data every day! And that volume is only increasing with the growth of the Industrial Internet of Things (IIoT) and Industry 4.0. But is this data supporting your organization’s digital transformation and driving actionable insights? Or are you drowning in big data challenges?

Learn how a large oil and gas company was able to save up to 60% of their time in planning and executing a Risk-Based Inspection program to address Corrosion Under Insulation

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Data Silos are bad for business

It’s common to see businesses storing P&ID information in one place, CAD models in another, historian data in yet another, and so on. A major issue that arises from this approach is incompatible data formats. As a result, data stored in different silos creates a severe lack of transparency, efficiency, and trust within organizations.

To lead in a competitive landscape, companies must accelerate accurate decision-making to improve efficiency and boost performance. Insights, decisions and actions must be rooted in fact and trusted data.

People need to be empowered to make decisions in real-time, quickly analyzing multiple sources of data to effectively manage business and operational risks.

 

Transform data into value with Visual Asset Performance Management

But how can we reduce the complexities of dealing with big data, enabling analytics-based insights to drive operational efficiency?

By using existing digital twin technology, Visual Asset Performance Management (APM) funnels multiple silos and formats of information into a single functional lens, with visualization capabilities that garner real-time, actionable insights.

Visual APM distills multiple sources and formats of engineering, operations and information technology data into a single source of truth – the digital twin. Through digital twin technology, users can visualize how assets and business are operating in real-time, easily track anomalies and decide which actions will result in optimal business outcomes.

Visual APM provides the ability to visualize an asset's digital twin in context throughout its entire lifecycle. Information transparency throughout the enterprise enables real time situational awareness from personnel in the field to decision makers at headquarters. Data correlation occurs in real-time providing contextualized insight across the entire asset lifecycle to ultimately improve business and customer outcomes.

 

Getting improved outcomes – Real world examples

Visual Asset Performance Management augments existing APM solutions by making use of information management tools to visualize and contextualize information, providing the workforce with an improved management platform for critical asset performance data.

For example, with Visual APM, an engineer can quickly compare the health of two adjacent pumps. Where a non-visual system would identify them separately (and their proximity and location would not immediately be apparent), with Visual APM, engineers can not only see that the pumps are adjacent, they can also see relative health status from color coding on the 3D model of the pumps.

Reference to the relevant P&ID reveals the roles of both pumps in plant operation, and a drill-down to real-time operational data shows the underlying problems: one has a leak, whereas the other shows excess vibration.

An informed decision can now be made to apply best practices and schedule repairs to both pumps to maximize asset reliability. The picture below shows an example of a navigable visualization of the digital twin.

AVEVA_Engage_Image_2_0116

Mechanical integrity can also be visualized based on historical data obtained during plant inspections. Data such as pipe thickness, wall loss, corrosion and replacement date are all visualized through a single lens.

With Visual APM, reliability engineers and plant maintenance personnel can identify the proximity of areas of concern on the 3D model (for example, understanding the mechanical integrity of a particular section of pipe by highlighting critical areas) and then making appropriate decisions for corrective action. The engineer can also see the status of nearby equipment, so that all outstanding issues in the surrounding area can be addressed in a prioritized, safe and compliant manner as shown in the illustration below.

pipesCompanies adopting a Visual APM approach have reported improvement in workforce effectiveness by 25%, increased asset availability by up to 15% and reduced maintenance and inspection costs by 50%.

 

Are you ready for the future?

AVEVA’s Asset Information Management & Digital Twins eliminate data silos to improve decision-making and accelerate collaboration across the enterprise. By bridging operations, engineering and information technology, AVEVA’s pioneering solutions add context to data enabling you to visualize analytics-based insights and drive operational efficiency.

Free your teams to spend less time analyzing data and more time increasing the speed and efficiency of your operations with AVEVA’s Visual Asset Performance Management.

Download our infographic to discover the key pieces for making Visual APM a reality in your organization.

author
Written By
Kim Custeau

Kim Custeau has 30+ years of experience in industrial asset management software and services. She is currently responsible for the strategic direction, commercialization and development of AVEVA's Asset Performance software portfolio globally, delivering solutions that help customers improve asset reliability and performance to maximize return on capital investments and increase profitability.

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