Predictive Maintenance in Asset Management

Asset maintenance is a necessity for all asset owners to keep the operations going and lengthen the asset’s life-cycle. Naturally there are costs of doing it, but there are also ways to minimize the costs and increase Return on Assets (ROA) . It is important to base the maintenance decisions to facts and gather data that is easy to use for planning and executing maintenance effectively. This can improve the competitiveness of your business in different ways. 

Preventive vs. reactive maintenance

One way of executing asset maintenance is reactive. You see a sudden failure – a collapse on the quay or broken piles under water, which need to be fixed the soonest. To do this, you may have to shut down the area and arrange the repair, which creates extra repair costs due to the waiting time. Next year, learning from this unfortunate occasion, you plan to do the maintenance works in certain cycles, say, once in a year. That is preventive maintenance -making sure that every asset is in shape and perhaps even overdoing it due not to having exact information about the actual state of the asset.

Make 3D asset data your advisor

What if you could rely your maintenance decisions on pure facts? When you use a digital twin of your asset, enriched with documents, notes, and remarks, you could get cost savings from avoiding shutdowns or excess maintenance operations. You get a good knowledge of the needed frequency of maintenance by monitoring the changes and comparing different datasets. In addition, you can schedule the maintenance works so that there is minimum disturbance to business. Predictive maintenance is also beneficial from the Health, Safety, and Environment (HSE) point-of-view, as you are optimizing asset maintenance, need less materials and fewer risky operations, while lengthening the asset life-cycle.

Benefits of predictive maintenance

  • Increased efficiency
  • Less shutdowns
  • Improved reliability
  • Positive effects on reputation

Efficient maintenance management gives you more benefits than only improved ROA. Less shutdowns and provably good condition of the assets emphasize your reliability to clients, investors and other stakeholders. Clear management and having essential information easily available are important to your maintenance personnel helping them to save time in their daily work and concentrate on the most relevant asset maintenance issues. Additionally, using state-of-art technology strengthens your reputation as an industry forerunner.

Online 3D platform for digital asset maintenance management

There are different types of platforms and software that offer tools for asset maintenance management. GISGRO is a platform designed for digital 3D asset management online.

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It allows you build a digital twin of your asset and easily visualize, share, and utilize asset 3D data in order to improve predictive maintenance operations, anywhere and anytime. This means that all parties involved with the asset – such as surveyors, asset managers, maintenance, designers, and engineers – can work and communicate in the same platform. In addition, all asset related data is stored to one place accessible at all times.

To learn more, watch the video below, read about GISGRO in asset management, book a free 20-minute online live demo with our 3D Asset Management Specialist, or get a free GISGRO demo account . Or, just go ahead and try GISGRO with your own data for free with 14-day trial.

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