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Asset Twin

What is an Asset Twin™

How Asset Twins™ Boost Asset Performance Management

Placing Asset Twins at the core of an APM platform allows organizations to evolve their asset strategies and optimize them even further. As a digital, virtual representation, the asset twin includes:

  • Design characteristics
  • Historical failure rates and costs
  • Failure consequences to the business,
  • Expected mission time

 

More importantly, it defines the key components for maintenance, reliability, production, and operations professionals to monitor asset performance in the context of its use. Going one step further, asset twins assess failure risk and proactively identify emerging threats.

 

Asset Failure Modes and Protections

Another advantage that a digital asset twin approach offers is accurately defining an asset’s failure modes. But the benefit doesn’t stop there. Maintenance, reliability, production, and operations professionals can mitigate failure risk by conducting preventative maintenance activities by having a line of sight into failure modes. Also, they can establish what operating conditions to monitor for each asset. With failure modes understood, your organization can take the next step of implementing asset protections. Properly protecting an asset means continually assessing its condition and operation. An effective APM platform provides condition protections by monitoring equipment health, state, and operational parameters.

Similarly, it affords activity protections by monitoring preventative maintenance and inspection activities.  When the platform detects emerging threats, it can automatically trigger prescriptive actions.  Then, you can deploy those actions armed with the confidence of dodging unexpected failures and their associated negative impact.

See more information on how Asset Twins drive reliability management.