Asset Performance Management – An Introduction

About Course

Asset Performance Management is similar to Condition-Based Maintenance yet it goes well beyond CBM’s capabilities. It leverages technologies now available in this fourth Industrial Revolution (Industry 4.0), like the Industrial Internet of Things (IIoT), Artificial Intelligence (AI), Machine Learning (ML), the Cloud, and high-speed data networking. Leveraging the stream of data that can be produced by your own production equipment, it promises to go far beyond early warning of some machine breakdowns and truly enhancing production efficiency.

Conventional CBM technologies are limited in scope and scale of what they can do for us. Industry 4.0 opens up a much broader spectrum and capabilities. We can now have real-time warnings about a far greater range of problems in much more of our installed capital asset base. The ability to identify problems and forecast the remaining time before failure exceeds what many CBM technicians and reliability engineers are capable of doing with conventional technologies.

The rapidly expanding availability of sensors and analytics software makes it possible to continuously monitor more than just your most critical assets. That expands APM well beyond CBM for larger companies. The low cost of devices and analytics, coupled with the ability to get expert advice without hiring and training expensive reliability engineers opens continuous monitoring up to a much wider market of medium and smaller enterprises.

Can’t find skilled trades and technicians for maintenance? APM helps with that too – it leverages the very knowledge and skills that are more common in younger generation new hires. The need for lots of experience to achieve results with CBM is not going away entirely, but it is being reduced.

Completion of this course is recognized with a certificate of completion and earns the student 0.3 CEUs.

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What Will You Learn?

  • Understand Industry 4.0
  • Add meaning to "digital enterprise"
  • Understand the IIoT, Artificial Intelligence, Machine Learning
  • Understand basics of Condition Monitoring & Proactive Maintenance
  • Understand the relationships among APM, Industry 4.0, and CBM
  • Learn the benefits and pitfalls of APM

Course Content

Asset Performance Management

  • 1 – Industry 4.0
  • 2 – Artificial Intelligence and Machine Learning
  • 3 – Asset Performance Management
  • 4 – Proactive Maintenance
  • 5 – Applying Industry 4.0 to CBM and APM
  • Final Exam

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