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Effective data management is an integral facet of maintaining efficient business processes. Because data is used to drive key business decisions, it is critical that the data under analysis is clear, correct and accessible. Well-maintained, accurate, and up-to-date data enables facilities to make informed business decisions that will result in meeting business drivers such as cost optimization, improved safety, and increased compliance. Conversely, data that is not well-maintained causes serious inefficiencies, a false sense of facility reliability, and the lack of ability to accurately forecast a facility’s operational budgets.
Good data management helps facilities achieve the following:
Optimization of maintenance strategies: Organizations that implement good data management practices are able to proactively identify potential risks and mitigate accordingly, thereby reducing a number of unplanned failures. For example, well-maintained data will help facilities identify when to repair or replace an asset, when an asset should receive a material upgrade, whether any engineering services should be performed (i.e. fitness for service to assess remaining life), or which spare parts should be kept on hand.
Improved business planning and forecasting: When it comes to inspection planning, accurate data helps facilities understand the extent of time needed, in addition to which inspections to perform, in order to quickly return the asset to full operation. Therefore, by reducing the uncertainty associated with reliability and overall facility utilization and uptime, facilities can use good data to adequately plan turnarounds.
Cost optimization: By identifying and prioritizing risks, facilities are able to proactively reduce failures, while also reducing the likelihood of over-mitigation (i.e. performing an unnecessary inspection). Likewise, proper management of maintenance procedures and repair documents will help facilities reduce rework. Good data management will help facilities complete the right tasks at the right time and avoid performing redundant corrective activities, which ultimately leads to an optimization of costs.
PinnacleART develops reliability-based asset management programs that are tailored to our clients’ processes, procedures, and tools. For these programs to be effective, key plant data needs to be available and up-to-date. PinnacleART works with clients to define the specific process and asset-type data required to be maintained. These requirements are compared to existing data to identify gaps.
PinnacleART then provides skilled data mining and cleansing of this key data, and organizes it into integrated asset management tools and repositories. This effort can include system and equipment walkdowns, Process Flow Diagram (PFD) / Piping and Instrumentation Diagram (P&ID) red-lining, and development of custom drawings and figures necessary for a comprehensive and effective program.
In addition, PinnacleART specializes in implementation and optimization of Computerized Maintenance Management Systems (CMMS) and/or Enterprise Asset Management (EAM) systems, as well as data clean up and validation. Critical asset data include Asset Hierarchies, Attributes, parts and materials (BOM), and history.
Interested in Learning more? Reach out to us with your questions.