Sponsored Technology Workshop - A Risk-Based Approach to Asset Integrity Management Improving Cost, Safety and Productivity - Siemens Process & Safety Consulting

Managing assets, in any industry, optimally has become crucial for organizations to stay competitive in today's global market. Industries are on the edge of a new trend in asset efficiency improvement, with the current pressures in realizing optimal value from their assets. Many old plant assets are at risk of failure from age-related damage mechanisms requiring mitigation actions. These assets cannot be replaced and need to have their useful life extended. Therefore, the common challenge is to maintain production capability cost-effectively while preserving the integrity of those assets. This workshop is intended to provide an overview of the techniques and capabilities of an advanced asset integrity management approach through the application of risk-based decision tools using big data, Inspection Database Management System (IDMS) software, and customized engineering analysis. Asset owners/users will be able to utilize all elements of this advanced approach towards Asset Integrity Management (AIM) to manage the risk exposed by the application of their inspection and mitigation strategy for current and future.