Asset Life Cycle Management

Plan › Design › Procurement › Operate › Maintain › Modify › Dispose

Every asset within an organization’s portfolio is acquired for specific business objectives. Assets go through various stages over its life cycle and in each of these stages it generates lot of data from maintenance, condition monitoring, instrumentation, automation control and production systems. This asset related data can be compiled together and analyzed, using various statistical techniques to get insight into their overall performance. Depending on the industry some assets are more critical and to optimize their performance effectively, end users and decision makers require comprehensive timely analysis to make informed decisions, during different phases of its lifecycle.

Advance statistical models can help predict and analyze …

• residual life of an asset or fleet
• repair v/s replace policy decisions
• buy v/s lease
• plant and equipment risk assessment
• vendor performance
• cost of ownership
• residual value of the equipment