Businesses at risk due to poor asset integrity management technology

Source: IFS North America

Mar 28, 2012

While many industrial companies in a recent study report having asset integrity management plans and sustainability plans on file, only 21% are using information technology that would ensure those plans are being followed.

While many industrial companies in a recent study report having asset integrity management plans and sustainability plans on file, only 21% are using information technology that would ensure those plans are being followed.

This, according to IFS North America (www.ifsworld.com), means that adequate measures are not being followed that would protect stakeholder investments - and in many cases the environment - by preventing asset failure.

IFS North America conducted the study of more than 200 executives from medium sized to large companies with help from Mint Jutras Principal Analyst Cindy Jutras. While 58% of study respondents report having an asset integrity management or risk mitigation plan in place, few are using centralized enterprise technology like an enterprise asset management (EAM) system to track the key elements of that plan, including documents about the equipment and assets themselves and information on the training and certification of employees working on the assets.

Download the complete study on asset integrity management