APM can play an important role in your overall reliability strategy, but it won't proactively structure your asset maintenance strategies which is the biggest driver of asset performance. That is where Asset Strategy Management (ASM) comes into play.
Make asset performance more predictable by leveraging APM insights to sustain optimal strategies on all assets, all the time.
For companies considering implementing Asset Performance Management (APM), establishing your Asset Strategy Management (ASM) process first will help ensure you get the most value from your APM initiative. ASM provides a structure and process to develop and sustain the reliability strategy of a global asset base.
ASM sets the foundations to deliver target performance levels, rather than a standalone APM program that looks to simply monitor asset health and response to alerts. When the Asset Management environment includes Work Execution Management (WEP), APM, and ASM best practices working together, world-class performance is the result.
Establish the Strategy for APM.
Implementing ASM first will support the development of the APM requirements and establish the value and cost benefit of implementing APM on key assets.
Start with Optimized Reliability Strategies.
Combining ASM and APM means you will have coverage of 100% of failure modes, both preventative and predictive maintenance practices, and ultimately make performance more predictable.
Ensure Best-in-Class Work Execution.
ASM is built upon the concept of generating and deploying best in class strategies, on an asset type basis. Utilizing a connected dataset, for ongoing evolution of the strategies, for all instances of an asset type.
Integrate Asset Strategy Management with APM.
Asset Strategy Management (ASM) is a best-practice approach to managing your asset reliability strategies, organization-wide. Together ASM, APM and Work Management sit alongside one another to make sure routine maintenance strategies and whole of life asset strategies are optimized and aligned to business performance requirements to deliver world-class asset performance.
A Guide to Asset Performance Management vs. Asset Strategy Management