Phys Asset Reliability GE ImagePredictive technology in the asset performance arena seems to be the trend of the week. I wrote yesterday about a solution. Today brings another announcement. I think I’ll learn more about this one next week at the 2015 ARC Forum in Orlando. (By the way, if you’re there, please look me up.)

The headline for this article came from GE. I’ve heard of predictive maintenance (which many aspire to and few achieve) and condition-based maintenance (similar but, I guess, different). Here they combine the two. Check it out and let me know what you think.

GE’s Measurement & Control business and Meridium Inc. introduce Production Asset Reliability (PAR), an integrated Asset Performance Management (APM) offering for an all-in-one view of equipment health. Combining GE Measurement & Control’s System 1 condition monitoring and diagnostic applications with Meridium’s suite of enterprise performance management and asset strategy solutions, PAR provides a holistic and quantifiable view of operations, maintenance, availability and overall operating performance for production assets.

System 1, GE’s patented condition monitoring software, helps users quickly diagnose potential equipment and instrument health issues which can lead to equipment failure. Meridium’s applications provide structured processes and analytics to identify critical assets and failure modes, calculate equipment reliability and determine downtime impacts. The integrated PAR solution provides an end-to-end process that connects the machine diagnostics to the business context and execution to drive optimized maintenance practices and production loss management for all asset-intensive industries.

“Today’s measurement, monitoring and management systems are disconnected, and, as a result, organizations fail to leverage quality data for actionable insights,” said Art Eunson, general manager for Bently Nevada, GE Measurement & Control, a GE Oil & Gas division. “GE and Meridium’s integrated PAR offering empowers our customers with the ability to connect identification, evaluation and execution for greater asset optimization and productivity.”

Asset intensive organizations are challenged to maximize production, minimize costs, follow regulations and manage risk. To balance the demanding requirements, operators require a more cohesive system that assesses equipment performance and manages the resulting data. GE and Meridium provide this comprehensive solution for customers to effectively measure, monitor and manage each connected asset.

“With greater availability of big data and connected assets, there is an end-to-end picture of plant operations waiting to be tapped by organizations from the plant floor to the corporate office in order to stay competitive on a global scale,” said Bonz Hart, Meridium Founder and CEO. “PAR measures performance, quantifies risk and delivers analytics in real-time, providing customers with the insight needed to effect real change, improve efficiency and reduce maintenance costs.”

The Oil & Gas industry demand solutions that can grow with business demand and adapt rapidly to changing technical environments. That is why GE’s industrial solutions such as System 1 are standardizing on GE’s software platform for the Industrial Internet, Predix.

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