SEARCH
REVEAL’s SEARCH Process characterizes each asset by analyzing its historical performance and current health as well as future risk factors. Accordingly, an organization’s decision makers can instantly spot assets that need remedial attention. SEARCH discovers and analytically quantifies the following asset parameters in each of these software modules:
Performance graphically presents each asset’s metric performance score (KPI) against its level of business impact. A comparative assessment of similar assets is presented with a scatter plot graph. Assessing each asset’s historical volatility/trend, SEARCH diagnoses past asset performance and if any assets are moving in a precarious direction.
Health quantifies and displays each asset’s current condition via user friendly dashboards incorporating engineering data. Maintenance and RCM feeds display data as an Asset Health Index.
Risk & Forecast metrics are calculated using data revealed in the prior two SEARCH steps:
- Risk (probability of failure) is calculated for each asset comprehending the Asset End of Life models. This final SEARCH assessment offers a collective view of the Risk of all assets relative to a selected performance measures (e.g. SAIDI, SAIFI, etc). Thus those assets needing remedy are easily identified.
- Forecast calculates the number of years to where it is optimal to replace a given asset. Some assets may be performing optimally but are nearing their end of life. Consequently, the quantification of past performance alone does not provide adequate data to determine when to replace equipment in the field. FORECAST measures both maintenance cost and depreciation against replacement cost to determine optimal time windows for replacement.