For asset-heavy industries like energy, asset-related issues like downtime, catastrophic failures, and suboptimal performance pose significant financial and reputational risks.

To address these challenges, asset-intensive enterprises must confront aging infrastructure, data gaps (including missing historical data), reactive maintenance practices, and complicated asset ecosystems. In the age of data, asset management functions are transitioning to condition-based approaches to improve maintenance. Condition-based asset management requires historical maintenance history coupled with vital data points like criticality and compliance. A highly structured Asset Strategy Template Library helps companies go beyond isolated tools and methodologies to make data-driven decisions.

What is an Asset Strategy Template Library?

An Asset Strategy Template Library is a groundbreaking system that offers a tangible and highly adaptive approach to managing asset maintenance and reliability. These templates are meticulously defined digital blueprints. Each template serves as a customized set of instructions, outlining the specific data points, protocols, and strategies tailored to a particular asset type. Key elements commonly found in asset strategy templates include:

  • Asset Classification: Categorizing assets based on their type, criticality, and function
  • Data Input: Gathering and inputting relevant data related to asset performance, historical maintenance, and failure information
  • Customization: Tailoring the template to suit the specific needs and characteristics of different types of assets
  • Monitoring: Establishing protocols for continuous monitoring of asset performance and condition
  • Compliance: Ensuring maintenance activities adhere to regulatory requirements and industry standards 

How Asset Strategy Template Libraries Elevate Asset Reliability

Without historical data, asset teams struggle to pinpoint the root causes of asset failures, resulting in delayed responses and increased costs. The Asset Strategy Template Library precisely defines the data points to be collected for each asset type, ensuring historical data with a clear lineage. These templates serve as living documents, evolving with the asset's life cycle. This structured, data-driven approach enables real-time monitoring, predictive analytics, and seamless integration with compliance standards.

Our Asset Strategy Template Library solution leverages a future-ready technology platform with a structured conditional-based analysis incorporating comprehensive data for every asset, enabling a 360-degree review to optimize maintenance. This solution integrates seamlessly into any enterprise tech stack, transcending traditional methodologies.

Asset Strategy Template Library

The solution also includes:

  • Transition from time-based to condition-based strategies using failure mode and effects analysis (FMEA) linked to maintenance plan actions
  • Known failure modes, failure conditions, and prescribed mitigating actions for each equipment type
  • Recommended actions detailing necessary steps and actions to improve performance
  • Risk ranking and cost optimization, including directional values for risk matrix parameters and cost analysis as well as ROI analysis 

Collecting and structuring asset maintenance data can be transformational, with tangible benefits that include cost savings, risk reduction, enhanced profitability, and long-term asset reliability.

Transform your maintenance approach with our future-ready technology platform and unleash the power of data for optimized asset reliability, cost savings, and sustained profitability.

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