How Asset Integrity Management Impacts Asset’s Lifecycle

Every organization is likely to have an ‘n’ number of assets that handle a wide variety of technical as well as non-technical tasks. However, these assets are always vulnerable to mechanical malfunction and regular wear and tear. Any damage to one equipment can have a drastic impact on the overall productivity of the organization.

This is why the majority of organizations rely on a dedicated asset integrity management software. Asset integrity management is the process of designing, fabricating, installing, and maintaining an asset so that it fulfills desired tasks without experiencing severe damage.

The main objective of having a dedicated asset integrity management solution is to enlist all the potential failures and develop the required solutions to mitigate them. As a result, you can pre-define all the failures and also design countermeasures to tackle them.

So, even if a failure occurs, you exactly know what steps should be implemented so that the productivity is not harmed at any cost. The majority of industries implement asset integrity management using an Asset Integrity Management software.

Now, let’s discuss the impact Asset Integrity Management has over an asset’s lifecycle.

Every asset in an organization goes through a dedicated lifecycle. The lifecycle has four different phases including

Design (Includes designing a blueprint of the Asset. The asset should be designed with a vision to offer high robustness.)
Construction (The next phase involves constructing the actual asset.)
Operation (In this phase, the asset is entered into the operation phase.)
Modification/maintenance (The final phase is to modify the asset from time to time so that it doesn’t undergo any severe damage.)

An Asset Integrity Management program ensures that each of these phases of the asset lifecycle is executed precisely, starting from the design to the maintenance.

If you use a dedicated asset integrity management solution, it’ll list out all the potential failures by analyzing the operation and other situations that are required of the asset. As a result, you can invest your time in designing proper solutions to mitigate the consequences of these failures.

An asset integrity management software also helps in evaluating the risks associated with a particular asset. For instance, how often an asset is likely to undergo damage. Using this information each risk can be associated with a dedicated priority number.

This will help in shifting your focus towards risks that are most likely to happen soon and what precautionary measures need to be taken to mitigate their results.

These are some of the potential benefits of using integrity asset management software for your organization.