Gartner Report: Top Practices for Utility CIOs Evaluating Enterprise Asset Management Software
Now more than ever, power plant operators must consider next generation data management and digital operations for their asset integrity management – to reduce the hurdles presented by multiple data silos, and to capitalize on digital workflows and critical insight.
According to Gartner, “utility companies have been slow to replace legacy asset management and EAM systems, due to lack of “ROI” as well as “complexity and cost,” resulting in challenges that are “causing them to lose out on new opportunities. One of the most important opportunities is digitalization.”
The Intelligent Power Plant of the future will be influenced by:
- Industrial internet of things (IIoT) to create real time analytics
- Visualizations to bring context and clarity to massive amounts of data
- Risk based inspection approach to maintenance spend
- Integrations for a single version of the truth
When considering EAM and asset performance management (APM), it is imperative to factor in mechanical integrity and risk of your critical equipment to improve safety, increase reliability, and reduce cost. While APM is a nice feature for the dynamic equipment that it affects, asset integrity management is a regulatory requirement, and a must have for mechanical integrity of the most critical assets. For the purposes of achieving digitalization via an intelligent power plant, it’s crucial to be selective about the AIM program utilized and ensure its digital offerings are ready for future intelligence.
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Top Practices for Utility CIOs Evaluating Enterprise Asset Management Software
Published 9 March 2021 – ID G00744962 – 21 min read
By Nicole Foust, Kristian Steenstrup