Articles - Asset Integrity Management

By now, the benefits of cloud computing for asset integrity management (AIM) are well known. The ability to store all asset data securely in the cloud – thereby outsourcing the complex and expensive IT support and maintenance involved in hosting it in-house – can be leveraged for tangible and immediate cost savings. However, when it comes to selecting the right software for cloud-based inspection data management, things are not quite as cut and dry.

The Industrial Internet of Things (IIoT) has transformed the landscape of Asset Integrity Management for the Oil and Gas industry. By empowering owner-operators with the ability to interconnect a vast array of physical assets on one digital platform, IIoT facilitates improved productivity, profitability, inspection scheduling, and corrosion mitigation – all while significantly reducing the likelihood of asset failure.

An API Recommended Practice (API RP 584), Integrity Operating Windows (IOW) are an essential component of any asset integrity management (AIM) system. IOWs improve predictive accuracy. They facilitate the collection, retention, and analysis of variable data – providing early warnings when a pre-defined process variable’s boundaries are exceeded. This helps to predict and prevent corrosion, increase productivity by allowing for predictive maintenance, and reduce the likelihood of asset failure.

The key to success for any asset integrity management (AIM) program lies in the development of its workflow process. For owner operators of plants, pipelines, and facilities, efficient and seamless inspection data management is key. The more effective the workflow and its application, the more reliable the equipment – reducing the chances of costly shutdowns or unnecessary repairs.

Technology in the asset integrity management (AIM) sector is now more advanced than ever. Risk-based inspection planning, seamless connectivity between software platforms, real-time monitoring and alerts of asset performance conditions, and the ability to synchronize inspection work from the field form a small sampling of the technology available to operators of plants, pipelines and facilities today.

For owner operators of asset intensive corporations, a primary challenge is often that of budget allocation. Specifically: How can I garner the most profitability from my assets within the confines of the budget resources available to me?

In our first article of this series, we examined the differences between the terms Asset Performance Management (APM) and Asset Integrity Management (AIM). That article took a quick look at the differences between the two terms at a high level. Today, we are taking a deeper look into the components of the two terms and how they complement each other for ultimate profitability, both for owner operators and for shareholders.

Owner operators of asset-intensive corporations are starting to realize the operational and profit potential of harnessing new technologies, namely the Industrial Internet of Things (IIoT). IIoT refers to the phenomenon of utilizing technology to connect a series of physical assets to measure and/or enhance industrial processes. Essentially, it equates to digitalization. In the world of asset integrity management (AIM), this means intelligent analytics to modernize the plant to an asset-control environment. Adopting IIoT helps owner operators to automate, improve and transform their processes for increased profitability, enhanced safety, and reduced loss of containment.

By now, the benefits of utilizing a comprehensive Asset Integrity Management (AIM) software have been firmly established. Yet, an AIM product is only as good as the sum of its parts. One of the key elements of any AIM software – indeed, the building block from which it is formed – is one of the least discussed. Namely: Integrity Manuals (IM).

Risk Based Inspection (RBI). A pillar in modern asset integrity technology, its benefits have become widely known and accepted (we examined all of the ways RBI reduces shutdowns and improves profitability in previous articles, here and here). The intelligent risk analysis afforded in comparing an asset’s unique likelihood of failure vs. its consequence of failure allows operators to reliably extend inspection intervals. In fact, RBI has been shown to reduce inspection points by 80-95%, and cut down the likelihood of unplanned shutdowns by more than half.