Out of Control Asset Performance!
Elevated levels of asset performance are being attained for non-industrial assets. Look at the progress made with autonomous automobiles. Twenty years ago, how many would have guessed there would be self-driving cars on non-intelligent roadways today? Yet there are! There are many other examples of asset performance improvements. Why is the performance of industrial assets so far behind? Real-time controls have been effectively applied to improve the efficiency of industrial operations for over a century. The result has been industrial assets pushed to their operating limits through better control. As efficiency increased and equipment was driven harder, reliability declined. Industry reacted by focusing on maintenance management to improve the asset reliability as can be seen by the broad emergence of sophisticated asset reliability measurements, such as vibration, ultrasound, casing temperature, and sound devices for predictive failure analysis. Over the past 2 decades the sophisti...