[This article published in the Feb'2018 edition of Fluid Handling Magazine, NA]
Automation technology developed for industrial applications is continuously being improved to achieve end user requirements for efficiency and safety around the world. In the case of predictive maintenance, the expected financial impact of a single or cascaded failure in an industrial operation is relatively easy to calculate and formulate an economic value proposition. However, since future events could jeopardize the safety of personnel and the surrounding community, the need arises to forecast such events with actionable precision. Failure event prevention is always better than dealing with the consequences that can ensue after such event. Thus, one of the best practices available is to have access to credible dynamic asset information and the means for predicting future failure events with considerable accuracy.
Predictive safety management can be achieved by monitoring online devices and identifying any shifts or changes in key operating parameters that can indicate potential safety issues. In some cases, such as rotating equipment, changes in these parameters can even cause secondary collateral damage. With the understanding that risk mitigation, reduced downtime and cost savings can be achieved by predictive safety management, it must be viewed as a direct profit-impacting function by operators.In addition to these bottom-line benefits, operations personnel can also use dynamic asset information to implement steps and adjust existing processes to avoid a future safety events.