Asset Performance Management in Plant Maintenance: Technical Framework and Implementation

Authors

  • Mohan Kumar Dalai

Keywords:

Asset Performance Management (APM), Predictive Maintenance, Degradation Modeling, Risk-Based Decision-Making, Prognostics.

Abstract

Asset-intensive sectors are also increasingly adopting the‌ use of Asset Performance Management (APM)‌ software to move from a reactive and execution-oriented, labor-intensive maintenance process to a risk-informed and engineered discipline. Reactive maintenance and scheduled preventive maintenance are inadequate for handling the‌ complexity and interdependency of industrial‌ systems․ One of the most relevant aspects of the‌ digital transformation of industry, fueled by the ubiquitous proliferation of sensors and data acquisition systems, is the evolution of‌ maintenance concepts from experience-driven to evidence-driven and predictive scheduling. APM software solutions converge operational data, analysis‌ models, and decision support‌ to optimally manage capital assets' portfolios. APM incorporates principles of reliability engineering, asset economics, and systems thinking to realize modern asset management strategies, including predictive maintenance, failure‌ mode and effects analysis, estimation of remaining useful life, and risk-based decision-making. Key functions include estimating asset health using degradation modeling, forecasting failure, interfacing with computerized maintenance management systems (CMMS), and providing analysis of‌ system‌ interdependencies. APM implementation requires cultural changes like embracing‌ data-driven decision-making and knowledge acquisition/management, along with continuously monitoring‌ performance. Results include‌ reductions of unplanned downtime‚ reduced maintenance costs of 10-40%‚ improved asset availability‚ and improved safety‌ performance․ Future directions include the use of artificial intelligence, digital twins, and Industrial Internet of Things platforms for more‌ advanced maintenance planning tools and adaptive decision-making in increasingly complex industrial environments.

 

Downloads

Download data is not yet available.

References

R. Keith Mobley, "An introduction to predictive maintenance," 2nd ed. Butterworth-Heinemann, 2002. https://shop.elsevier.com/books/an-introduction-to-predictive-maintenance/mobley/978-0-7506-7531-4

ISO, "ISO 55000: Asset management – Overview, principles and terminology," International Organization for Standardization, 2024. [Online]. Available: https://cdn.standards.iteh.ai/samples/83053/c7a77e84adba4194bb69c940a17ac16c/ISO-55000-2024.pdf

Andrew K.S. Jardine et al., "A review on machinery diagnostics and prognostics implementing condition-based maintenance," ScienceDirect, 2006. [Online]. Available: https://www.sciencedirect.com/science/article/abs/pii/S0888327005001512

Sherif Mostafa et al., "Lean Maintenance Roadmap," ScienceDirect, 2015, https://www.sciencedirect.com/science/article/pii/S2351978915000773.

Jay Lee et al., "A cyber-physical systems architecture for Industry 4.0-based manufacturing systems," ScienceDirect, 2015. [Online]. Avail https://www.sciencedirect.com/science/article/abs/pii/S221384631400025X

Gartner, "Market Guide for Asset Performance Management Software," Gartner Research, 2025. [Online]. Available: https://www.gartner.com/en/documents/6300115

ISO, "ISO 55001: Asset management – Management systems – Requirements," International Organization for Standardization, 2024. [Online]. Available: https://www.iso.org/standard/83054.html?utm

Panagiotis Mallioris et al., "Predictive maintenance in Industry 4.0: A systematic multi-sector mapping," ScienceDirect, 2024. [Online]. Available: https://www.sciencedirect.com/science/article/pii/S1755581724000221

Marvin Rausand, "Reliability-centered maintenance," ScienceDirect, 1998 [online]. Available: https://www.sciencedirect.com/science/article/abs/pii/S0951832098830056

Wei Yan, W. Q. Chen, "Structural Health Monitoring Using High-Frequency Electromechanical Impedance Signatures," Hindawi Publishing Corporation, Advances in Civil Engineering, 2010. [Online]. Available: https://www.researchgate.net/publication/42387402

M Bevilacqua, M Braglia, "The analytic hierarchy process applied to maintenance strategy selection," ScienceDirect, 2000. [Online]. Available: https://www.sciencedirect.com/science/article/abs/pii/S0951832000000478

Tongdan Jin et al., "Allocating redundancy, maintenance, and spare parts for minimizing system cost under decentralized repairs," SpringerNature Link, 2024. https://link.springer.com/article/10.1007/s42524-024-0145-3

Minou C.A. Olde Keizer et al., "Condition-based maintenance policies for systems with multiple dependent components: A review," ScienceDirect, 2017. [Online]. Available: https://www.sciencedirect.com/science/article/abs/pii/S0377221717301881

VECTOR, "IEC 61508: Understanding Verification and Validation of Software Under IEC 61508" https://www.vector.com/int/en/lp/us/iec-61508/?utm_source=google&utm_medium=cpc&gad_source=1&gad_campaignid=739469470&gbraid=0AAAAAD_bKWX3UN98wddYUskQ-QxVSTQ9V&gclid=Cj0KCQjwyr3OBhD0ARIsALlo-OkE5xfPJngjbBYldVdh84L1Xa_2bPOno5L7gZLEZPqpVx1vAGXMgeYaAiovEALw_wcB#

Vlatka Hlupic et al., "Modelling and simulation techniques for business process analysis and re-engineering," ResearchGate, 2006 [online]. Available: https://www.researchgate.net/publication/228381990

Downloads

Published

20.06.2026

How to Cite

Mohan Kumar Dalai. (2026). Asset Performance Management in Plant Maintenance: Technical Framework and Implementation. International Journal of Intelligent Systems and Applications in Engineering, 14(1s), 1565–1572. Retrieved from https://ijisae.org/index.php/IJISAE/article/view/8387

Issue

Vol. 14 No. 1s (2026)

Section

Research Article

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

All papers should be submitted electronically. All submitted manuscripts must be original work that is not under submission at another journal or under consideration for publication in another form, such as a monograph or chapter of a book. Authors of submitted papers are obligated not to submit their paper for publication elsewhere until an editorial decision is rendered on their submission. Further, authors of accepted papers are prohibited from publishing the results in other publications that appear before the paper is published in the Journal unless they receive approval for doing so from the Editor-In-Chief.

IJISAE open access articles are licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. This license lets the audience to give appropriate credit, provide a link to the license, and indicate if changes were made and if they remix, transform, or build upon the material, they must distribute contributions under the same license as the original.