To date, Asset Performance Management (APM) has been a poorly understood and underutilized opportunity for asset-intensive industries. Too often, reliability and maintenance professionals’ ideas for creating value through maintenance have been sidelined by larger objectives.
New opportunities to push APM now emerge through the Digital Transformation Framework, Industrial Internet of Things (IIoT) platforms, and smart connected assets. As this framework and related technologies come together, there is confusion about what is new, what is repackaged as new but is novel, and what is purely marketing hype. To clarify where APM is headed, the market requires a clear understanding and definition: APM 4.0.
This eBook discusses the evolutionary path of APM and how to reach APM 4.0 by managing the asset lifecycle in the IIoT era.