The Role of ISO in Strategic Asset Lifecycle Information Management

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1 The Role of ISO in Strategic Asset Lifecycle Information Management Summary Utilizing IS enables organizations to meet their asset information requirements while reducing the costs associated with defining, collecting, transforming, deploying and sustaining this information over the lifecycle of assets and facilities. Author: Jeff Bonnell, Director of Product Management and Solution Engineering Company: NRX Global Corp Created on: 07 January 2008 Author Bio Jeff is the Director of Product Management and Solution Engineering at NRX Global. His team works with customers, partners, industry analysts and thought leaders to thoroughly understand customer needs, market trends, and technology, as inputs to guide the NRX Solution Roadmap. Jeff holds degrees in business and industrial engineering and will complete an MBA in January Jeff is a registered Professional Engineer and possesses a PMP designation from the Project Management Institute. Jeff has industry experience in reliability and industrial engineering with a global manufacturing company and prior to NRX lead the project services division for a leading EAM software company SAP AG 1

2 Table of Contents The Role of ISO in Strategic Asset Lifecycle Information Management...3 Trend to Increasing Information Needs in Capital Asset Intensive Facilities...3 Costs of Information Management...3 Access to Relevant and Precise Information is Key to Asset Lifecycle Information Management...3 Information Relevancy...3 Information Precision...4 Information Availability...4 Why ISO Satisfies the Key Asset Lifecycle Information Management Issues...4 Conclusion Disclaimer and Liability Notice SAP AG 2

3 The Role of ISO in Strategic Asset Lifecycle Information Management Trend to Increasing Information Needs in Capital Asset Intensive Facilities Asset Lifecycle Information Management is becoming increasingly important to the design, construction, commissioning, operation, maintenance, and decommissioning of capital asset intensive facilities. Factors driving the trend towards an increase in the depth and coverage of information include: Improving ROA and access to capital Global competition and reducing risk Increasing complexity and sophistication of new assets Changing workforce demographics Higher health, safety and environmental awareness and regulation Improving asset availability and reliability Information creation, distribution, management, retrieval and application all play a substantial part of the cost base for every organization in the capital project value chain. This information is derived from Original Equipment Manufacturers (OEMs) and Suppliers, through Engineering, Procurement and Construction companies (EPCs) and their subcontractors, to Owner Operators (OOs) and their service providers. Costs of Information Management The size and complexity of today s capital projects, coupled with the degree of inter and intra company collaboration required for successful project execution, has elevated information management to an area of strategic importance. The result of increasing information requirements is a deluge of data and documentation that is making any single piece of information much more difficult to find. Information management practices today are inefficient and ineffective, repetitively creating and recreating local, non-reusable information using solutions that are not interoperable. Each group involved with the design, manufacture, construction, maintenance and operation of assets, independently defines and develops their own information requirements. This involves substantial duplication of information, resources, and effort. In addition, separate information requirements cause even further delays and costs when the data must be shared, because each group must go through the process of defining, collecting, and often repurposing the data before they can reuse it. This lack of complete and accurate information being available at the right place at the right time results in businesses: Taking longer to bring products and services to market Consuming more resources and incurring more costs Forfeiting asset reliability Creating health, safety and environmental issues Access to Relevant and Precise Information is Key to Asset Lifecycle Information Management Information Relevancy Today s skilled workers need immediate access to diverse information from enormous libraries in order to solve the issues they encounter on a daily basis. The optimal solution finds and retrieves exactly the information required, no more and no less. Currently, specific information is buried and hidden within exorbitant amounts of non-relevant information. Provided information must be relevant, accurate and concise SAP AG 3

4 Information Precision Pervasive automation of information exchange and information management requires precise, agreed meanings for engineering data. The meaning of a term and corresponding value in one system must carry over to another system, with all of the technical nuance implied in its original specification. If the meaning of the data changes, even slightly, in conversion from one system to another, the value of the information is reduced and the potential for design errors, additional build costs, regulatory mismatch, and health and safety impacts increases. Information must be cohesive, complete, and consistent. Information Availability There is still a large gap between what most information systems can provide and what users need and expect. Current legacy information systems cannot address these issues due to structural limitations and the lack of consistent information categorization. Getting accurate, reliable and consistently categorized information into these systems in a timely manner provides immediate and substantial benefits for the users and businesses that rely on them. Information must be current, correct, and available. Why ISO Satisfies the Key Asset Lifecycle Information Management Issues ISO is the International Standards Organization s standard for capital equipment and related information and is designed specifically to address these asset information management issues. Using the ISO standard for information exchange allows: Use of reference data defining standard terms with precise meanings Accurate expression of relationships between data Retention and query of the full lifecycle history of the data Exchange of structured data in a standard format with a standard protocol Automatic collation from multiple external sources on demand Freedom from the need to identify, map and transform between applications Definition of deliverables suitable for inclusion in contract language SAP AG 4

5 Conclusion ISO addresses the key business issues for asset information through a well-developed and robust technical infrastructure. The ISO framework allows information to be created once, managed between organizations and across systems, and made available to all authorized users as required to improve timely decision making. Utilizing IS enables organizations to meet their asset information requirements while reducing the costs associated with defining, collecting, transforming, deploying and sustaining this information over the lifecycle of assets and facilities SAP AG 5

6 Related Content Please include at least three references to SDN documents or web pages SAP AG 6

7 Disclaimer and Liability Notice This document may discuss sample coding or other information that does not include SAP official interfaces and therefore is not supported by SAP. Changes made based on this information are not supported and can be overwritten during an upgrade. SAP will not be held liable for any damages caused by using or misusing the information, code or methods suggested in this document, and anyone using these methods does so at his/her own risk. SAP offers no guarantees and assumes no responsibility or liability of any type with respect to the content of this technical article or code sample, including any liability resulting from incompatibility between the content within this document and the materials and services offered by SAP. You agree that you will not hold, or seek to hold, SAP responsible or liable with respect to the content of this document SAP AG 7