Asset Management

Improve asset management and avoid equipment failure

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The power of Maximo

Predict and prevent the failure of power plant assets and equipment, improve management, service levels and lower operating costs.

Use case: Increase operating efficiency and avoid equipment failure

Automated, company-wide asset management is helping this power generation company increase operating efficiency, which helps provide better, more reliable power-generation services to its customers.

For energy companies to provide efficient fuel sources for consumers and businesses, their operations must be efficient. If it takes too much labor or too much money to keep power plants running, output may suffer, and customers end up paying the price. Therefore, it is imperative that power companies run the most efficient plants possible, ensuring that all parts work together cost-effectively and provide high availability for energy output at the lowest price.

For power companies to provide efficient energy sources, their operations must be efficient. If it takes too much labor or too much money to keep power plants running, output may suffer, and customers end up paying the price. Therefore, it is imperative that power companies run the most efficient plants possible, ensuring that all parts work together cost-effectively and provide high availability for energy output at the lowest price.

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An integrated solution with superior functionality

This power generation and distribution company aimed to improve asset management and reduce operating costs to respond efficiently to the company’s strategic plans, regulatory framework requirements and increased service levels required by customers.

The utility needed to replace an in-house solution for asset maintenance and management with one that would integrate with its current enterprise systems. The in-house system could not address preventive maintenance, which left the utility to react to incidents instead of being able to prevent potential issues from growing into problems. It wanted to update current processes with industry best practices applicable to utilities based on consulting services by adding management control.

The company sought a business and technology partner to help it improve its overall asset management and business processes, replacing its current maintenance application with an enterprise asset management (EAM) solution. Ideally, the solution would integrate all processes, monitor and trace all plant components, identify risks in advance and pool all the information for integrated and transparent asset management.

An automated asset management system using advanced analytics

Power plant equipment that breaks down causes energy waste, downtime and ultimately higher energy prices for customers. Power companies need to find and fix those potentially faulty assets even before they begin to cause trouble. This power company implemented an automated asset management system that uses advanced analytics to measure, monitor and maintain its power plant assets.

Through sensors located in the company’s power plants, engineers monitor a display that reveals the state of each asset in a single, comprehensive view, which helps them spot deviations from normal performance. By analyzing this data compared with historical data, the solution helps plant managers identify anomalous patterns and abnormal performance. This enables them to perform preventive maintenance and predict where assets may start to break down in the future, improving plant performance and avoiding costly outages.

To help better manage equipment and operations, the power company worked with IBM® Global Business Services® – Application Innovation Services to implement a solution based on IBM Maximo®, IBM Maximo for Utilities.

Improved data flow, preventive and reactive maintenance capabilities

The solution provides both preventive maintenance recommendations and reactive maintenance programs. The Maximo Asset Management and Maximo for Utilities software allows the power company to anticipate and prevent failures, and correct systems and processes before they are carried out. The solution also helps improve data flow between departments. Better asset management and smoother operating processes mean less downtime in power plants. The new solution provides plant safeguarding as well as planning transparency, proactive issue identification and plant asset management.

Real business results

  • Maintains 100 percent of the company’s distribution and generation assets, and 80 percent of its total assets, including preventive maintenance services
  • Reduces operating, maintenance, logistics and inventory costs
  • Improves safety, efficiency and product lifecycles with improved transparency and tracking abilities and more preventive maintenance

Learn more

IBM Maximo can help plant safeguarding, as well as planning transparency, proactive issue identification and plant asset management. Learn more about how IBM Maximo can be used not only for mainstream maintenance, purchasing, contracting and stores but also for routine preventative maintenance tasks. To understand the real risks for your asset-intensive business, visit our website.

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