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Asset Information Management for Capital Projects and Operations

Accelerate access to relevant content throughout a project lifecycle to speed milestones, reduce shutdowns and increase revenue

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25%
increase in capital project team collaboration and handover efficiency achieved with OpenText solutions[1]

Overview

When safety, deadlines and compliance are priority, immediate access to accurate information is critical.

Access to accurate procedures and information is crucial for technical staff across the entire industrial asset lifecycle. However, many asset information management systems still store procedural and engineering information in multiple, uncontrolled silos, reducing quality and accessibility for project, operations and maintenance teams. This can lead to project delays, costly rework and increased production downtime.

With capital project management software, teams have immediate access to critical information, minimizing costs and risks to project schedules and increasing production revenues.

Key benefits

Speed cross-team collaboration, keep projects on track and ensure efficient and safe operations and maintenance.

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  • Increase team productivity

    Shorten feedback cycles and accelerate task completion with controlled access and automated exchange, project collaboration and review/markup processes.

  • Accelerate commissioning

    Ensure a safe and efficient startup, optimize processes and provide operations and maintenance teams access to actionable content at commissioning.

  • Keep projects on schedule

    Proactively identify and resolve issues and enable concurrent revision control to allow teams to work in parallel.

  • Reduce downtime

    Use digital twins with integrated procedure and engineering information access to reduce shutdown, turnaround and outage downtimes and increase uptime revenue.

  • Optimize processes and asset management

    Automate information identification and metadata extraction during migration, divestiture and acquisition with AI and machine learning to accelerate operations.

Business impacts

  • Project set-up

    Project teams need to quickly establish new projects to meet business requirements. Outdated systems can take weeks to manually set up and configure. Define reusable templates to streamline project setup.

  • Information control

    Owner-operators must ensure governance and accessibility throughout the asset lifecycle. Older engineering systems are not compliance-configurable, causing inefficient information control. Manage document access to optimize projects and operations.

  • Internal and external collaboration

    To complete projects, contractors, suppliers and internal engineering teams must share huge amounts of information. Aging systems cannot handle the complexity, leading to delays and rework. Optimize document management, exchange and collaboration.

  • Digital twins

    Engineers use a “digital twin” to proactively manage and maintain a physical asset. Upon commission, operations must spend years manually gathering the metadata needed to build it. Create it during construction with a progressive handover.

  • Document access

    Operations and maintenance teams need engineering and procedural documents to complete jobs right the first time. With siloed information, finding needed information can take days. Streamline operations with intelligently connected information.

  • Operations management of change (MOC)

    Field staff need current documentation to maintain safety and optimize operations. A lack of MOC results in outdated information and leads to accidents and downtime. Enable in-field change requests for up-to-date documents.

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Energy solutions provider overcomes oil-price challenges with lean, integrated operations

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North American petroleum refiner deploys OpenText solutions in the cloud

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Explore the components of the solution

Products

Solve Asset Information Management for Capital Projects and Operations challenges with OpenText.

AI and Analytics

Augment data-driven decision making and accelerate business with advanced artificial intelligence in a pre-built machine learning and big data analytics platform.

Solution Extensions

Extend product capabilities by leveraging partner technologies.

Professional Services

OpenText Consulting Services combines end-to-end solution implementation with comprehensive technology services to help improve systems.

Asset Information Management for Capital Projects and Operations resources

Integrating OpenText Extended ECM for Engineering and SAP PM speeds tasks to increase uptime revenue

Watch the video

What is asset information management?

Read the blog

Get a single source of truth across the asset lifecycle of capital projects

Read the brief

Effective engineering document management lies at the heart of successful construction and capital projects

Read the blog

Accelerate engineering collaboration for capital projects

Read the blog

The Cloud fuels energy companies to modernize and provide innovate solutions

Watch the video

SAP xECM for Microsoft Office 365 and Capital Projects and Operations

Take the tour

Frequently asked questions

Asset information management is the business processes and solutions that ensure the availability and accuracy of content and data. It enables asset-intensive organizations to make informed decisions and safely execute work tasks throughout the project lifecycle of large revenue producing assets.

Asset information management systems aid project collaboration across internal and external teams, as well as subsequent operations and maintenance personnel, to access and control information and work processes across the lifecycle of projects and operations increasing team efficiency and production uptime revenue.

Asset information includes anything that describes the design, operation, maintenance and real-time status of assets and their components, including design documents and models technical specifications, safety, operational and maintenance procedures, manuals and enterprise asset management (EAM) data.

Capital projects encompass the approval, design, construction and acquisition of components or machinery. They also include the commissioning of a large revenue-producing asset, such as an electrical generation plant, chemical factory or distribution grid or a large infrastructure asset, such as a railway or freeway.

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Footnotes

Footnotes

  1. [1]Forrester, The Total Economic Impact™ of SAP Solution Extensions for Asset Intensive Industries, May 2020