Bentley is proud to offer this series of ARC Advisory Group strategy reports on Asset Lifecycle Information Management (ALIM)

The following excerpts will introduce the important topics covered in this valuable research. We invite you to download your complimentary copies today!

Asset Information Management (AIM) - Part III AIM Technology Solutions

Technology Provides the Foundation for Every AIM program

Technology provides the foundation for organizations to efficiently collect, organize, and manage the volumes of drawings, lists, specs, manuals, and databases associated with a typical capital asset investment. It also allows organizations to sustain the integrity of this information throughout the asset lifecycle.

Selecting the right AIM technology is challenging. Assets vary significantly across industries, and organizations have different asset management strategies. This leads to unique AIM requirements in areas like information content, business processes, and the stakeholders that must be supported. This report provides metrics for current AIM capabilities and offers advice on mapping gaps to functional requirements for new AIM investments.

Asset Information Management – The Case for Developing an AIM Strategy

AIM Impacts All Asset Performance Metrics

Better AIM can improve the financial performance of most facilities, financially and otherwise. The typical asset-intensive facility can reap annual savings equal to 1.5 percent of its sales revenue.

It is important to recognize that a good AIM strategy can improve asset performance across all performance metrics including EH&S (environmental, health, and safety) and sustainability. Too often, organizations discount non-financial performance benefits in their evaluation of IT opportunities. In the case of AIM, a good strategy can help the organization avoid significant financial penalties and other effects that might jeopardize the organization’s reputation and very survival.

Asset Performance Management – An IT Perspective

Asset Information Management (AIM) Is a Key Issue for Every APM Strategy

The intent for AIM is to help optimize asset performance during the operation phase of an asset’s lifecycle. However, the IT organization’s involvement in AIM has to begin with the planning of new assets to enable information to be acquired and processed in a manner that will support effective operations. A multitude of diverse information is created when designing, building, and commissioning facilities. While some is directly useful for operations and maintenance, other information has to be transformed into different forms to meet APM needs.

ARC’s ALM models define asset management as an enterprise-wide activity with visibility to asset-related information at all levels of an organization.

Information Management Strategies for Asset Lifecycle Management

The Staggering Costs of Poor Information Management in ALM

Various studies show that poor information management is a critical problem for stakeholders across the asset lifecycle. During project activities, it significantly increases capital costs and extends project schedules. The impact is even worse for operations and maintenance, as it limits plant availability and raises operating costs throughout a facility’s extensive lifetime. Poor information is also the root cause of many environmental and safety issues that damage the reputation and survival of organizations.

NIST estimated the increased CAPEX and OPEX cost of poor interoperability across the complete design, build, and operate supply chain to be $15.8 billion per year. Of these costs, two-thirds are borne by owners and operators.