Health indices in asset management
SAGA Products

Health indices play a key role within APM (Asset Performance Management) systems. In a nutshell, a health index describes the state or technical condition of an asset by means of a score, and therefore its current performance and degradation. They can even go further, indicating what its state will be in the future.

In companies with a large number of assets, such as utilities, the calculation of health indices for each of them is not a minor issue. In fact, each asset must have a particular mathematical model, which, through a series of precursor variables, will determine this index that measures its state of health. Because of the heterogeneity of assets, APM systems require standardisation that allows data to be collected, integrated, modelled and analysed efficiently, thanks to Data Governance policies. This standardisation is complemented by a process of normalisation when calculating and displaying the asset health index to facilitate the interpretation of asset condition and decision-making.

On the other hand, health indices do not work independently. The information they provide facilitates and is enriched with other very important indices, such as the probability of failure of the asset, its criticality or impact on the activity, or the risk presented by each of the assets. In this regard, SAGA (Advanced Asset Management Solution, by its Spanish acronym) provides a holistic view of the asset fleet in relation to these indices, going one step further thanks to the intelligent aggregation of the information related to the resources necessary to carry out the maintenance actions that the business experts provide individually with the aim of minimising the risk of unavailability of the assets and, in aggregate, of the entire network.

SAGA APM

Furthermore, these indices not only provide a snapshot of the current state of the asset, but also of its future state, making it easier and more realistic to evaluate assets in order to decide on the best maintenance and replacement strategies in the short, medium and long term. Knowledge of asset health allows maintenance strategies to be based on asset condition, improving efficiency relative to frequency-based systems, and facilitating the development of predictive and preventive maintenance strategies.

In this way, the performance of the asset fleet is optimised and adapted to the needs of the moment, substantially improving long-term planning, which is so important in critical sectors such as energy.

Thanks to the information provided by SAGA on these indices, together with that provided by business experts, decision-making for the development of strategic plans and asset management becomes a more comprehensive and objective process, contributing directly to optimisation in all areas of action.

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