Streamlining Operations: Standardizing Processes with Composable Asset Performance Management

This presentation explores bridging the gap between industry and academia to quantify value creation from GE Vernova’s Asset Performance Management (APM) in business operations. By collaborating with university academicians, PETRONAS developed an algorithm to accurately quantify value creation using real-time data. The methodology distinguishes between tangible and intangible values, focusing on reliability modeling and risk analysis. Key concepts include preventive maintenance deferment and anomaly intervention. This data-driven approach enables precise risk assessment and value quantification, advocating for continued industry-academic partnerships to enhance APM capabilities and justify investments in advanced software solutions.