Project Announcement: Asset Reliability and Risk Interoperability to Optimise Maintenance Execution and Improve Risk Management of Energy Producers

August 10, 2022

Data and analytics silos existing in industrial organisations, such as energy producers, hamper the ability to combine analytics models to derive further benefits over their original purpose. In particular, the ability to incorporate operational reliability model outputs—which have the primary purpose of informing operators of asset health and probable failures—as the inputs to risk models utilised to optimise maintenance planning and execution. In addition, maintenance activities are provided as input into the operating reliability model to refine the probable asset health and performance. This creates dynamic risk models which provide major benefits to risk management and cost-effective maintenance in asset intensive industries.

This project aims to demonstrate the benefit of using standards-based interoperable interfaces to bridge the gap between siloed reliability and risk models. It will develop standards-based interfaces for the exchange of information between reliability and risk models; create open reusable ontologies for the description and verification of the interfaces and relevant information across reliability/risk model boundaries; apply the interoperability methodology on a concrete use case of improving work order prioritisation for improved asset health and risk management and achievement of work execution efficiencies.

See here for more details.

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