Enterprise assessment management (EAM) and asset performance management (APM) are different systems with similarities between them. Understanding the intricacies of both can help maintenance professionals choose the solution that provides the capabilities your organization needs.
What Is Enterprise Asset Management?
EAM refers to a combination of software, systems, and services used to maintain and manage operational assets and equipment. The major goals of EAM are to optimize the quality and use of assets throughout their lifecycle, increase uptime, and reduce operational costs.
The enterprise part of EAM refers to the management of assets in multiple departments, business units, locations, or facilities across the entire organization. Maintenance professionals use EAM solutions to plan, optimize, execute, and track maintenance activities. Additionally, it documents the entire asset life cycle of an asset, from initial procurement through to decommission. That data also provides the basis for long-term planning and budgeting.
What Is Asset Performance Management?
The main purpose of APM is to improve the performance of assets. As a result, they can continue to work in their intended function. It’s taking maintenance to the next level, where it’s easier to spot problems before they occur or identify ways to make your operations more productive.
APM maximizes the predictability and profitability of equipment or facilities with software that offers …
- Real-time data
- Life cycle analysis
EAM vs. APM: What’s the Difference?
Both EAM and APM refer to the care of equipment, facilities, vehicles, and/or tools—anything physical that needs to be maintained. However, the main difference between the two is the emphasis on prioritizing the performance of assets in APM.
EAM covers the key aspects of the maintenance management. That includes work order management, service requests, preventive maintenance, vendor management, documentation and reporting, parts and inventory, etc.
While APM also does those things, it relies on data analytics to optimize asset performance and reliability. Additionally, you minimize unplanned repair work, manage risk, reduce equipment failure, and extend asset life without unnecessary costs.
APM should reflect an organization’s business strategy or plan, so all assets are working towards those larger objectives. As a result, organizations can achieve goals like lower operating costs, higher ROI, reduced downtime, and increased productivity—all of which contributes to the bottom line.
Have questions about EAM, APM, or anything else related to maintenance management? Contact us. We’re here for you.