APM in an Operations Asset Management System
SCIO Asset Performance Management (APM) Framework
The APM Framework distills information into knowledge to enable decisions optimizing asset cost, performance, and risk.
SCIO has presented its Asset Performance Management concept, principle and practice, with asset condition, in a value chain. Here, we show how APM works within a broad operational asset management system.
SCIO has developed an integrated and functional asset management system for leadership to reduce and eliminate value leakage on their odyssey to operational excellence.
The APM Framework fits within the operations asset management practices in the top left grey box with strategy deployment, risk management, investment planning, and APM all underpinned by sound decision management. These are what SCIO considers core practices, the critical mass of having a functional asset management system in the operation and maintenance phase of the asset life cycle.
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The management system also has a value network map to monitor performance objectives through a cascading series of leading and lagging metrics from our practices to our desired business outcomes. Last but not least, the system has governance features, including management review, audit and assurance, continuous improvement and innovation. The management system can be built and implemented as a self-financed achievement model starting with any element.
The APM Framework includes a playbook outlining the business processes and expectations, training courses for APM principles and practices to develop people’s competencies, and a software solution to manage asset cost, performance, and risk.
The APM Framework serves as a middle ground, bridging the two valid but different perspectives of leadership and practitioners on asset performance management. It distills information from the organization’s Enterprise Asset Management (EAM) and Asset Performance Management (APM) applications and subject matter expertise as knowledge to make decisions that optimize asset cost, performance, and risk.
SCIO’s Asset Performance Management (APM) framework empowers you to challenge the status quo and achieve optimal performance outcomes. See. Think. Decide. Act.
