Example use cases for Asset Risk Predictor

This article provides some examples for how you might use Asset Risk Predictor for the following types of use cases:

• Reacting to high-risk events
• Reacting to medium-risk events
• Ongoing use and monitoring

Reacting to high-risk events

Immediate maintenance based on high risk

You can configure the Asset Risk Predictor dashboards to automatically send alerts when an asset is listed as high risk. When you receive the alert, you can then:

1. Review past maintenance records and sensor data.
2. Check if there are any open work orders for this asset:
   • If there are open work orders, follow up on them.
   • If there aren’t, create a work order and assign it to a technician to address the issue.
3. Create a work order and assign it to a technician to address the issue.
4. Implement necessary repairs or changes to prevent future equipment failures or downtime.

To learn how to set up alerts, see the Set up alerts section in Asset Risk Predictor tips & tricks.

Enable risk-based work orders

In addition to sending alerts, you can also automate the creation of work orders in the following situations:

• When there’s a high risk score for any hour in the past day
• When there was a medium risk score for 3 consecutive hours or 6 hours total in the past day

To learn more, see Enable risk-based work orders.

Contractor involvement based on high risk

If there is high-risk alert on an asset that requires specific licensing to address (e.g. assets that use natural gas), you may need to call in a contractor if the in-house technicians do not have the proper licensing to troubleshoot the issue.

Reacting to medium-risk events

Further preventative maintenance based on medium risk

In cases where an asset is listed as medium risk, you may want to organize and action planned maintenance within a week. For example:

1. Medium risk is flagged on the Asset Risk Predictor dashboard.
2. Plan an inspection for the next day. Check your predictions the next day and prioritize the inspection if the risk has increased.
3. Schedule maintenance for the following week.
4. Continue to monitor the asset during the medium-risk event to prevent it from escalating to high risk. If the risk score increases (even if it's not yet high risk), prioritize the asset's inspection and maintenance.

Reassess risk thresholds

If you find that assets assigned a medium risk score are failing before a high-risk event occurs, you should consider adjusting your risk thresholds so that high-risk events trigger at a lower threshold. For example, if you find that assets are failing at a risk score in the 700s, you could lower the threshold for high-risk events to 600. That way, when an asset’s risk score hits the new threshold of 600, a high-risk event will be triggered.

To learn how to change your risk thresholds, see Change risk level definitions for Asset Risk Predictor.

Ongoing use and monitoring

Daily monitoring on critical equipment

In addition to reacting to specific risks, you can also use the dashboard for ongoing monitoring by checking that all of your assets are listed as low risk every day. For example, you could schedule the dashboard to be delivered to you automatically each morning. If everything is “green” (i.e. low risk), no action is needed. However, if a medium or high-risk event is identified, you can address them by following the suggestions in the sections above.

To learn how to schedule dashboard delivery, see the Schedule dashboard delivery section in Asset Risk Predictor tips & tricks.

Add Asset Risk Predictor on new (or pre-owned/refurbished) equipment

Asset Risk Predictor can be particularly useful for plant operators who want to track and evaluate the performance of new, pre-owned, or refurbished equipment, as well as equipment that has been transferred from other locations and the maintenance history is unknown.

Switch assets after 6 months

You can use Asset Risk Predictor to strategically target mission-critical equipment as part of reliability projects. Once Asset Risk Predictor has successfully evaluated one piece of equipment, you can switch to another.

Model cycle time over several cells on a single assembly line

You can input cycle time from each asset to train the algorithm while the line is performing without bottlenecks, micro-stops, or starved/blocked situations. When the equipment starts to wear or slow down, the change in cycle time will trigger an elevated risk, allowing you to monitor and detect emerging issues, including upstream or downstream production fluctuations.

Monitor chemical tanks for foreign contaminants

Similar to cycle time, you can input sensor dosing pump rates, temperature, and product rates while running normally. An elevated risk will occur when dosing pumps becoming out of sync with product rates. If the pumps increase feed rates to maintain chemistry, you can investigate the diluting of chemistry that is out of proportion to consumption on product.

Monitor viscosities

If you input temperatures and measurements from an inline viscometer, viscosity adjustments without temperature changes will generate an elevated risk. That could indicate leaky valves in the consumption lines, a bad valve stack, the operating hooking up the wrong material, etc.

Monitor pressure differentials

If you monitor pressure differentials on either side of filtration and input production rates, an elevated risk on these inputs could indicate contamination or a failure in the machine abnormally filling up filters out of sync with production rates. This could indicate a blown pump seal and oil filling air lines, construction outside contaminating supply air, etc.