28 Jun Managing Capital Asset Information
Every capital asset follows a standardized lifecycle encompassing design, construction, handover, operations, and maintenance. In the CAPEX world, few levers remain for addressing increasingly stringent cost, schedule, quality, and safety requirements. While innovations such as modularization and AWP offer much promise, effective management of asset information is often overlooked as an avenue for addressing these challenges. A critical aspect of effective asset information management is the selection and configuration of a solution that:
- Enables curation and seamless transition of an asset’s information from design through decommissioning
- Is selected based on rigorously defined requirements and expert user input
- Is future-proofed by avoiding customization
- Anticipates handover and O&M requirements
- Represents the “single source of truth” for asset-related documentation
- Balances information security and operational efficiency
- Protects confidential information while supporting its appropriate dissemination
Like many other business challenges, the traditional People / Process / Technology triangle applies to managing information about capital assets. Selecting a fit-for-purpose solution addresses technological needs, but user adoption and effective document management processes are equally critical for establishing a true information asset.
This whitepaper provides context about asset information as it is differentiated from business content, its overlapping, yet unique uses for CAPEX and OPEX, and its gradual evolution from a document-centric to an asset-centric resource. This is followed by an examination of several critical decision-making factors for selecting an asset information management solution, introduces several additional considerations focused on people and process, and concludes with some tactical insights from Access Sciences’ subject matter experts at client accounts.
Examine critical decision-making factors for selecting an asset information management solution.
Download the full whitepaper here.
