Asset Performance Management Process

The optimal asset performance management formula

At the operational level, the purpose of APM is to ensure that an asset safely performs its intended function at the desired levels of performance over the required time horizon.  This means:

managing the availability, reliability and productivity of assets - This requires attention to precision and detail in the disciplines of operations, maintenance, and technical support;

managing the condition of assets; and

controlling the risks of operating those assets over time - requiring careful assessment of condition and performance, projection of condition over the longer term, and the creation and diligent application of loss prevention strategies.

APM is a continuous process that addresses four key questions around complex assets.

1. Are the assets meeting the organisation’s needs?

2. Is the planned asset performance strategy effective?

3. Are the actions complying with the asset performance plan?

4. Are unwanted conditions or events avoidable?

These questions are addressed by Silcar’s APM business process flow summarised in the diagram below.

By institutionalising practices that continually address these questions, Silcar and its clients have been able to realise substantial financial and asset performance gains.

Asset Performance Management Process Flow