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Enterprise asset life cycle management

Enterprise Asset Life Cycle Management

Enterprise asset life cycle management means the optimal management of the physical assets of an organization to maximize value, minimize negative environment effects and energy consumption over the life of the asset. Prevas is focusing on the production operation in this context but most of the solutions and processes can be implemented to manage any physical assets in an organization.

It covers such things as the planning, budgeting and design of plants, construction, commissioning, production operations, maintenance, rebuilds and upgrades, and finally the management of the decommissioning/replacement of the plant, equipment or facilities.

"Enterprise" refers to the management of the assets across departments, locations, facilities and, in some cases, business units. By managing assets across the facility, organizations can improve utilization and performance, reduce capital cost, reduce asset-related operating costs and extend asset life and subsequently improve ROA (Return On Asset). Multi organization and multi-language support are some fundamentals in an efficient cross organization EAM solution.

The fundamental principle of asset life cycle management is to upload the structure of the plant already in the planning and predesign phase. Budgets, and all other information such as engineering and purchasing information, is then collected and tied into the plant structure as it evolves. Potential suppliers are requested to upload their information according to the structure making the information management efficient. The solutions from Prevas are 100% web solutions to facilitate this. When the final designs are approved, the plant is already in the EAM system including all documentation, spares, purchasing information, instructions, preventive maintenance plans, consumption target values, guarantees and KPIs for asset performance management. The asset performance data is then collected from the very start and compared with target values – forming the foundation for asset lifecycle management based on facts and data analysis.

Prevas Infor EAM offering comprises all the functions and capabilities to manage assets from the investment planning phase, through the production operation phase and finally through the decommissioning phase. Project and budget management, purchasing and inventory management, asset performance management are integrated modules in Infor EAM that enables life cycle management of assets.


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