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Question

Looking for examples of exciting Enterprise Asset Management innovations, such as predictive analytics, automation, IoT… or anything new and exciting?

Enterprise Asset Management systems, such as IBM Maximo, have come a long way in the past twenty years. I’m leading a discussion on the the next wave of EAM advancements in an online session next week, and thought I’d reach out to this network for insights and inspiration.

My talk covers the next wave of advancements – including cloud, IoT enablement, or advanced analytics. Are there any ground breaking EAM innovations that you have you come across, either in your own organization or elsewhere in the energy sector? Please share!

Answers

Hi Mark! It is a pleasure to meet you and looks like a great upcoming discussion. I have a colleague at West Monroe who may be able to contribute and discuss further. Please contact me at japrice@wmp.com and I'll put you in touch with this SME. 

Mark  Damm's picture
Mark Damm on Oct 15, 2020 3:16 pm GMT

Thanks Jason!

Attached please find an article I authored with my Wired Group colleagues on predictive asset replacement (part of predictive asset management).  We are not fans of it.  For investor-owned utilities, we believe it's a way to grow rate base (and profits) without justification. 

Link to article

 

Mark  Damm's picture
Mark Damm on Oct 15, 2020 3:29 pm GMT

Thanks Paul. Interesting read and I see your point with the statement "there is no justification for using accounting practices to inform operating practices."

Curious to know your thoughts on the move towards predictive analytics based on data from the devices themselves, such as data from IoT devices and sensors in the field. 

Hello Mark,

We have developed a Real-Time Asset Information Management System (AIMS) that calculates, based on inspections, tests, monitoring (IoT) and operational data, the condition, health Index, and predictive analysis of assets both at the asset and at the component level. It is complementary to existing Enterprise Asset Management platforms and it provides visualization of the Condition Assessments, Health Index, and Alarms of assets and statistics at specific dates. It therefore supports both CAPEX and OPEX optimization.

 

Mark  Damm's picture
Mark Damm on Oct 15, 2020 3:51 pm GMT

Thanks. This is really interesting.

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