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:
- Most operations struggle to balance schedule, task and risk.
- Many organizations are predominantly focused on operations and maintenance tasks instead of innovation.
- Visibility across asset classes is often an understated challenge.
- Internal expertise is often poorly allocated and utilized.
- Today, 80% of time is spent on data collection and 20% on analysis.
- 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.