Lloyd’s Register (LR), a professional services company specializing in engineering and technology solutions, announces the latest release of LR AllAssets. This release adds new functionality to the AllAssets Asset Performance Management (APM) platform with the addition of a Maintenance Optimization module, which includes RCM, FMEA, FMECA, and Maintenance Optimization capabilities and libraries.
LR’s approach to APM brings together facility-specific asset data and engineering expertise with industry best practice. The platform’s risk-based algorithms, and library of extensive engineering knowledge across reliability and maintenance optimization, enable customers to determine the most effective maintenance strategies.
LR’s optimization technologies have been market proven over a 10-year period with AllAssets’ predecessor, RTAMO. Customers can continuously tune their maintenance program based on changing asset conditions, equipment reliability criteria, and production demands to determine the optimum intervals for planned maintenance.
The AllAssets platform uses advanced analytics to help customers mitigate business risk and optimize plant performance. Preconfigured risk and reliability models and a unique model builder tool enable customers to configure the templates for their own environment without the need for software coding – helping to reduce costs and provide faster time to insight. A cloud-based solution, AllAssets frees the workforce from spreadsheets and allows a systematic approach to capturing human knowledge and best practices, all in one place and accessible across the organization. The platform includes a module for Risk Based Inspection (RBI) as well as best practice and failure history libraries.
Inderpreet Shoker, ARC Advisory Group, commented, "Owner/operators are looking for solutions that could help them improve the performance and reliability of their assets. They realize the benefits of preventative maintenance and rely on RBI, RCM, FMEA, and FMECA to manage their plant assets and reduce corrective maintenance costs. However, with hundreds of assets to manage and fewer qualified personnel, managing assets remains a major challenge for them. Offering all the necessary tools through Maintenance Optimization module, along with advanced analytics capabilities and extensive library for maintenance optimization, Lloyd’s Register’s AllAssets platform is in excellent position to help owner/operators address this challenge.”