4206 Getting Started with APM Strategy

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Asset Strategy Work Processes

• APM Foundation, Asset Health & Policies, Core Analysis, Recommendation Management, Asset Taxonomy, Event History, and Asset Criticality

• Perform Investigation, Determine Solutions, implement solutions, Track performance, Evaluate asset performance, Identify opportunities

• Communicate improved plan, implement strategy, Execute strategy, Evaluate risk and performance, Mitigate risks with action plan, Optimize mitigation

• Define Mitigation strategy, Execute strategy, evaluate and communicate results, Collect or update asset data, Identify potential degradation mechanisms, Perform risk analysis

• Consolidate plan to achieve safety Integrity Level (SIL), Execute strategy, Operate & Monitor performance, Assess operating risk, Determine Safety Integrity Level (SIL), Validate instrument design

• Determine your organization’s appetite for risk based on the different kinds of risk, quantify risk using various methods, and mitigate risk by creating an action plan

Asset Strategy Management

• Reviewing Strategies and the ASM Data Model, Reviewing the Asset Strategy Work Process, Understanding Security Groups and the Baseline ASM Security Groups

• Reviewing the difference between Performance and Strategic Recommendations, Promoting Proposed Recommendations to ASM

• Reviewing the Risk Matrix and its components, Building an Asset Strategy manually, Creating a new Risk record, Defining Mitigating Actions

• Understanding Template application methods, Creating an Asset Strategy Template, Applying a Template as a Master, Applying a Template as a Copy, Applying selected Risks and Actions from a Template, Linking Mitigating Actions to Risks, Consolidating Actions, Undoing Actions, Modifying Risk and Actions

• Reviewing the ASM State Configuration process and Roles, Activating the Strategy

• Viewing a Strategy’s Revision History, Changing Administrative Settings for Risk Analysis, Purposes, Filtering Actions, Simulating the Removal of Actions from a Strategy, Changing Action Intervals to improve the Strategy, Proposing and Activating the modified Strategy

• Reviewing the ASO capabilities

• Implementing Actions as Rounds Measurement Locations, Adding an ML to serve as a Health Indicator Source, Implementing Actions as Health Indicators, Reviewing how to Implement Actions in an EAM System, Using Action Management to implement Bulk Actions