Typically however, the asset state is determined isolated from other information such as utilization rates. Remediation in the case of break fix is largely considered an operational concern, and quite removed from the strategic asset management agenda.

The EPN Approach

In leading enterprises, asset management is fast moving towards a more strategic approach in leveraging asset investments for maximum return.
Next-generation asset management combines data about asset deterioration, maintenance and renewal activities, and utilization data to allow for longer term modeling and projection over large asset bases.
This necessitates closer ties between operational management and asset management domains.

Increasingly, assets of many kinds are being telemetry enabled either at initial deployment or in retrospect. Telemetry enablement allows an asset to be treated as an event source, with data emitted for current condition/status and utilization. In such an environment, Event Zero’s Event Processing Network (EPN) can be used to supplement scheduled inspection programs with real-time fault and behavior monitoring for many types of assets. The detection of presence or absence of expected condition state and operations events, including on occurrence detection conditions can then be forwarded to the asset management system for further processing.

As a result, the EPN approach allows:

• The combination of real-time asset condition data with scheduled inspection data.
• Cross correlations between related or dependent asset chains, and between asset classes.

Importantly, the continuous acquisition of asset condition data provides a detailed historical view that is not available with sparse manual inspection data, and lends itself to predictive failure and maintenance analysis.
The EPN approach supports traditional asset maintenance processes by providing asset performance history and detailed drill-down for device activity that triggers asset management events.
Resulting workflow events can also be sent from the asset management system back into the EPN in order to monitor the incident management process and provide additional alerts as necessary (for example, SLA, time to fix, or unassigned tasks).

The diagram below displays a high-level overview of the Event Zero real-time condition monitoring and asset management solution using the Event Processing Network (EPN), which provides comprehensive functionality for all of the event processing stages: capture, process, and respond.

Using Event Zero’s extensive portfolio of end-point adapters and transport protocol support, real-time asset condition management can be implemented against a wide range of assets, for example:

• Electrical assets – distribution stations, substations, or smart meters
• Telecommunication assets – PABX, switching/routing, mobile base stations, or radio communication networks and handsets
• Sub-structure assets – doors, lifts, air conditioning, security systems, or gates
• Industrial control devices using SCADA, PLC, OPC, or MODBUS

The Event Zero EPN-based, real-time condition monitoring has the following specific advantages:

• Continuous asset condition monitoring, both for asset and operational management
• Availability of real-time asset condition assessment, potentially without expensive manual inspections
• More accurate deterioration data based on real (vs projected) asset utilization
• Enhanced asset-based scenario modeling and treatment projection

In addition to specific advantages, the following generic EPN advantages also apply to environmental monitoring:

• A single platform that scales across many different types of asset class and portfolio size ·
• Straightforward integration with existing asset management infrastructure
• Visibility of real-time asset status and utilization in asset management strategic planning and works management
• Opportunities for more accurate forecasting of treatment, enhanced scenario modeling, and operational integration.

 Event Zero’s real time condition monitoring for asset management is delivered in conjunction with our asset management solution partners.

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