Asset Performance Management Explained Author Sticky GE Vernova GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.GE Vernova’s Electrification Software business is focused on delivering the intelligent applications and insights needed to accelerate electrification and decarbonization across the entire energy ecosystem – from how it’s created, how it’s orchestrated, to how it’s consumed. Jul 02, 2026 Last Updated 11 minutes Share What is Asset Performance Management? Asset Performance Management (APM) is a comprehensive approach combining maintenance methodologies and advanced software solutions to maximize assets’ value and performance throughout their lifecycle. Because of the fast pace and complexity of industrial operations, maintaining optimal performance of physical assets, or equipment, is critically important. From across the Oil & Gas value chain to power plants to mining operations, the reliability and efficiency of assets directly impact operational excellence and business profitability.The practice of APM has undergone significant transformation, driven by technological advancements and evolving industry demands. The integration of sophisticated data analytics, the Internet of Things (IoT), and artificial intelligence (AI) has revolutionized how organizations monitor, manage, and optimize their assets. How does Asset Performance Management work? The basic process of an Asset Performance Management program involves: Data Collection: Asset data including technical specifications, real-time sensors and alarms, readings from temperature and pressure gauges, field observations, inspection reports, maintenance history, and other digital and physical monitoring is collected and centralized.Analysis: Through AI and machine learning (ML), analytic techniques, and other maintenance methodologies, the asset data is evaluated for patterns and anomalies, deviations from expected conditions, potential risks, and early signs of stress or failure.Actionable Insights: The analysis identifies and prioritizes Operations & Maintenance (O&M) actions based on what the asset data indicates, with the goal of moving from a reactive maintenance culture to more proactive and predictive maintenance strategies. What are the key features and functions of Asset Performance Management software? APM software digitalizes the process of connecting disparate data sources to O&M strategies and actions. The functions of APM software include: Data Integration: APM software automatically pulls in and centralizes data from sensors and IoT devices, historians, CMMS, Enterprise Asset Management (EAM), and controls systems, then organizes and contextualizes it. Advanced Analytics: Expert-built diagnostic, descriptive, and predictive analytics contextualize data to create actionable information by looking across multiple sites to find patterns and opportunities for improvements. Now, with the emergence of Generative AI, APM has the potential to prescribe maintenance recommendations from structured and unstructured data. Digital Twins: To uncover issues on crictial assets, APM software uses digital twin models of how the equipment should operate compared to near real-time performance data from sensors and monitoring. A statistically significant deviation in how the equipment is actually operating is a warning sign of potential downtime and needed repairs. Maintenance Optimization: By providing a centralized view of asset health through condition monitoring, and helping to evaluate its current and future risk of failure, APM software helps operators answer: Is this asset performing as expected?In what ways can this asset fail, how can I mitigate the risk of failure, and at what cost?What would be the consequences of this asset’s failure on my business?What action should be taken now to prevent failure?What should be our overall asset strategy to optimize business objectives?How can I more efficiently manage and maintain less-critical assets?Am I monitoring the right assets and data for what I am looking to achieve? What are the benefits of Asset Performance Management software? APM software provides the most value for companies as an integrated, connected enterprise solution. Enterprise APM enables asset-intensive organizations to find new trends and insights that help enable safer, more reliable operations while facilitating optimal performance at a lower sustainable cost. The benefits include: Increased Reliability and Availability: By catching performance issues early, operators can prevent unplanned downtime or critical equipment failures that lead to costly downtime. Using APM, enterprises are realizing 2-6% increased availability. Reduced Costs: By optimizing O&M based on asset health and risk, organizations can allocate resources and staffing to critical needs, avoid more expensive repairs with earlier fixes, and better plan spare part holdings to decrease inventory cost by 5-10%. While the exact figure varies by industry, unplanned downtime often costs a business 10X the cost of planned maintenance because of the disruption to the business and lost production. Extended Asset Lifecycle: Helps evaluate asset criticality, risk, and repair or replacement costs so that maintenance can be performed at the right time so that equipment is performing optimally for longer. Operational Efficiency: Helps enable data-driven and faster decision-making so that the most critical actions are prioritized and resources are appropriately directed. Enhanced Safety & Compliance: APM software helps organizations track and execute compliance and safety measures. And by decreasing reactive maintenance, O&M activities can be planned when needed most with the appropriate personnel, equipment, and time allocated. Which industries use Asset Performance Management? Any industrial organization maintaining a large collection of assets across a plant, fleet, or multi-site enterprise can benefit from APM software. Industries that employ APM methodologies and software include: Power Generation; Oil and Gas; chemicals; aviation; manufacturing including automotive, consumer packaged goods, and food and beverage, logistics and transportation, and many others. Asset Performance Management Use Cases Using GE Vernova APM software, organizations are realizing substantial returns on their APM investment.For example, SOCAR Türkiye enhanced operational efficiency and reliability of assets and reduced downtime through their use of use of the APM Strategy and APM Reliability applications, along with their innovative approaches to implementing advanced analytics and data-driven decision-making.Results at the STAR refinery and Petkim petrochemical complex included a 20% reduction in reactive maintenance, 10% reduction in safety incidents, 5% reduction in overall maintenance costs, and 2% increase in availability.U.S. power generation company Xcel Energy has undertaken a digital transformation journey supported by GE Vernova’s APM software. Through this process, Xcel has improved work order risk management, automated health data integration, and adopted Asset Strategies based on criticality and risk. By migrating APM to cloud and adopting SmartSignal, the company enhanced condition-based monitoring and moved toward predictive maintenance. Read more APM Customer Stories What are the challenges that can be faced with Asset Performance Management (APM) implementation, and how are they overcome?. Though the benefits of APM software are substantial, organizations may face challenges with the implementation journey such as: Issues with data siloes, poor data quality, or missing or deficient dataCultural resistance about the shift away from traditional maintenance practicesSkill gaps that require training employees in data analytics software and reliability principlesLack of executive sponsorship or capital for software investment It’s important for IT and OT leaders to build a business case about the ROI of APM software. This should not only include benefits such as increased availability, production output, and reduced maintenance costs, but also outline supporting operational strategies and approaches to cross-functional collaboration. Conclusion: A Holistic Asset Performance Management Program Asset Performance Management is more than technology. It’s a unified strategy that helps people, processes, and systems work together toward sustained operational excellence. When supported by investment in enterprise-level APM solutions and process changes across functional teams, organizations can create transformational value and enable a continuous improvement culture. 4:13 GE Vernova’s APM offers composable and interoperable applications that can be deployed to cover dozens to thousands of assets across a single site or enterprise. Our APM Strategy, APM Health, APM Reliability, and APM Mechanical Integrity applications are available to users as a on-premises solution or a SaaS offering in the cloud. . Additionally, our APM solution incorporates a rich catalogue of content including asset monitoring analytics, predictive analytic digital twins, and business process workflows that help organizations realize faster time to value.If you’d like to experience our APM solutions in action, check out our Demo Hub, or contact us. Author Section Author GE Vernova GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.GE Vernova’s Electrification Software business is focused on delivering the intelligent applications and insights needed to accelerate electrification and decarbonization across the entire energy ecosystem – from how it’s created, how it’s orchestrated, to how it’s consumed.