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Jul 19, 2019

Six Roadblocks in the Asset Performance Value Chain

Asset performance today is not efficient or cost-effective. The problem isn’t with the assets themselves or the experts managing them—it’s the entire value chain these assets operate within.

In our second recap of Frost & Sullivan’s report, Optimize Asset and Infrastructure Life Cycle, we take a closer look at the factors impeding today’s asset performance value chain.

Exploring the Six Roadblocks to Performance Value

The problem with present-day asset performance is that it’s not integrative or scalable. The inability to assess the condition of assets, quantify risks or judiciously balance regulations leaves most with a reactive strategy that’s extremely cumbersome and labor intensive.

Here are the six roadblocks impeding most asset performance value chains:

  1. Most operations struggle to balance schedule, task and risk.
  2. Many organizations are predominantly focused on operations and maintenance tasks instead of innovation.
  3. Visibility across asset classes is often an understated challenge.
  4. Internal expertise is often poorly allocated and utilized.
  5. Today, 80% of time is spent on data collection and 20% on analysis.
  6. Less than 5% of data collected is used and acted upon.

To take a closer look at these roadblocks and how industry innovators are overcoming them with the right monitoring and diagnostic solutions, download the full Frost & Sullivan report here.

In our next recap of the report, we’ll explore the components of an effective asset and infrastructure management lifecycle strategy.