What Is Asset Performance Management?

Asset Performance Management (APM) is a comprehensive approach that combines technology, data analysis, and maintenance strategies to optimize the performance, reliability, and lifespan of physical assets within an organization. 

The Benefits of Asset Performance Management

The following are some of the benefits of implementing asset performance automation in your business:  
  • Improve asset reliability by identifying and mitigating potential problems before they cause an asset to fail.
  • Increase asset availability by scheduling maintenance before a failure occurs.
  • Reduce asset costs by preventing unplanned downtime and costly repairs.
  • Increase productivity by freeing up employees to focus on more important tasks, such as production or customer service.

Types of Asset Performance Management

There are a number of different asset performance automation tools and techniques available, each with its own set of benefits. Some of the most common APM tools include:  
  • Condition monitoring: uses sensors to collect data on the condition of assets, such as vibration, temperature, and sound. This data can be used to identify potential problems before they cause an asset to fail.
  • Predictive maintenance: uses data from condition monitoring to predict when an asset is likely to fail. This information can be used to schedule maintenance before a failure occurs, which can prevent unplanned downtime and costly repairs.
  • Reliability-centered maintenance (RCM): RCM is a systematic approach to asset management that focuses on identifying and mitigating risks to asset reliability. RCM uses data from condition monitoring and failure analysis to develop maintenance plans that are tailored to the specific needs of each asset.
If you’re looking for a way to maximize the value and return on investment of your assets, our Asset 360 Management Software will effectively manage your asset's entire lifecycle, from acquisition to retirement.