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Modelling the value and production of an asset using traditional methods is time consuming and expensive. It requires different areas of expertise, different software packages and different people, who may not be in the same physical location. It remains the preferred approach for certain stages during an assets life, but may not be the most cost effective way of using precious human resources during others.

The industry has recognised this and integrated asset models are slowly being adopted for decision support in situations where using the full area of dedicated tools is either impractical or too slow. Some examples of situations where it may be better to simplify the asset with proxy models are;

 

Even given the use of simplifications, running an integrated asset model still requires familiarity with all the normal disciplines;

and therefore a user who is at least familiar with all these disciplines. Ideally the predictions made by an integrated asset model should be benchmarked and validated against results generated by their discipline experts using the conventional and more accurate tools.
Once an Integrated Asset Model is built and benchmarked it comes into its own, as it is now much easier to change parameters and watch the impact on the chosen key performance indicator within minutes rather than weeks. A particular advantage is the integration of economics into the work stream as this is frequently partially overlooked during the earlier stages of decision making.
The Ingen engineers are well versed in a variety of integrated asset modelling tools and have the ability to understand the complexities of all the disciplines involved. Our engineers can be deployed to;

We can either use third party products or our own in house IAM software, RAVE. The most important thing to remember though is that integrated asset modelling is a means to an end, not an end in itself.

 

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