The Asset Twin defines the key components needed to monitor asset failure risk and proactively identify emerging threats. By providing an active digital model of the Asset, Failure Modes, and Protections you are able to “operationalize” an asset strategy to ensure your stay in front of unplanned failure through continual assessment of condition, health and preventative maintenance activities.
The virtual definition of an Asset which includes design characteristics, historical failure rates and costs, failure consequences to the business, expected mission time and probability of future failure.
Failure Modes define how an asset can potentially fail and the potential impacts that occur when there is a failure. For each Failure Mode, potential mitigations such as preventative maintenance activities and operating conditions to monitor are established.
Protections are deployed for each failure mode to guard against unexpected failure and the associated impacts. Condition protections monitor equipment health, state and operational parameters. Activity Protections monitor preventative maintenance and inspection activities. When emerging threats are detected, prescriptive actions are triggered.
The Itus process is practical and effectively guides you through the design, implementation, and management of asset strategies and twins. The process has been designed to enable maintenance, reliability and operations professionals to easily measure the effectiveness of their APM program and drive a continuous optimization cycle which increases equipment reliability while lowering operating costs.
Identify high risk assets which can benefit from Asset Twins. Assess dominant failure modes to managed and ensure your business mission is met.
Apply Asset Twin Protections to monitor conditions and activities, identify emerging failure risks and drive prescriptive action.
Utilize real time indicators, health scoring and excursion logging to analyze current state of assets and detect emerging threats.
Act upon proactive advisories and insights from Asset Twins to mitigate failure risks and ensure continual strategy optimization.
The Itus Asset Twin Library contains domain expertise for over 180 of the most common industrial asset classes. Curated for quick implementation as Asset Twins, the library contains failure modes, preventative maintenance activities, analytics, and prescriptive actions which can be used as is or adjusted for your requirements. Whenever you need to protect an asset from failure, simply pull a model from the library, connect to your operational or maintenance data sources, adjust for operating context and activate. From that point forward, Itus will watch and let you know if any threats start to emerge!
Activity Based Protections
Condition Based Protections