Asset Performance Management
What is asset performance management?
Asset performance management is the analysis of operational data from connected devices to improve their efficiency and employee productivity while minimizing operational costs. This requires a holistic, real-time view of multiple devices and locations, the ability to analyze this data to predict future events and prevent downtime, and (ideally) standardized and automated asset performance management across the enterprise.
What are the business benefits of asset performance management?
Asset Performance Management provides a single point of truth and a consolidated view of an organization's assets across all locations and a single platform to manage those assets. Better decision making leads to increased efficiency, asset availability, reliability and productivity, as well as reduced costs and downtime through predictive maintenance. Automating processes such as scheduling reduces costs by eliminating manual errors, while inventory tracking facilitates compliance and improves workforce automation process management.
Asset Performance Management (APM) includes the ability to collect, integrate, visualize and analyze data for the explicit purpose of improving the reliability and availability of physical assets. APM encompasses the concepts of condition monitoring, predictive prediction, and reliability-based maintenance (RCM).
Literal Meanings of Asset Performance Management
Asset:
Meanings of Asset:
Something or someone of any value or part of their goods or possessions.
Any part, model, process or value structure that can be used or reused.
Intellectual assets.
(usually plural) Parts of a woman's or buttocks, or of the male reproductive organs.
Sentences of Asset
These stocks are valuable commodities.
Performance:
Meanings of Performance:
The act of performing an act or act by performing an act by performing an act by means of an act.
What is done or done, thing done or done by an achievement, fact, fact, specific act, act of generous or public character.
Live show or concert.
Estimated amount of useful work done in terms of time spent, resources used, etc.
The actual use of the language in certain situations by native speakers as opposed to their system of linguistic knowledge (skills), see :w:linguistic performance.
Sentences of Performance
Fulfillment of an obligation or duty.
Higher productivity means doing more work in less time and/or using fewer resources.
Management:
Meanings of Management:
The leaders of the organization, especially the senior leaders.
