The golden cycle of painless prognostics

29 February 2016

Getting a prognostics project off the ground requires justification of the upfront investment and the cost of designing, developing and rolling out a sensing solution can often scare companies off. 

However, thinking about the data that is currently available is often over looked as the initial expectations for a project are set at an idealised level.  How about taking an iterative approach following our golden ‘3 Es’ principal of Establish, Exploit and Enhance?

painless_prognostics.png

Establish

Utilising the data and sensing capability in the Establish phase allows a prognostics project to start with minimal investment, with the objective of establishing a capability that can be exploited to deliver a positive result and benefit to the business. 

Exploit

During the Exploit phase the evidence is gathered to define the gaps in the prognostic solution along with evidence that some benefits are tangible and demonstrated to be achievable.  All this evidence drives the definition of the Enhance phase.

Enhance

With the greater understanding of a prognostics problem and the ways in which it provides benefit, the Enhance phase will have the required evidence to justify spend on additional sensing hardware and capability.  For the next iteration through the ‘3 Es’ cycle.

Once the Enhancements are implemented, it’s possible to establish capability and continue the cycle.

The benefits

There are several benefits to an iterative approach:

  1. It does not require vast capital budgets that need to be justified with returns on investment that span several budget periods
  2. Shorter lead times to deployment and showing the benefits that can come from a prognostic approach
  3. Allows evidence to be gathered that will be needed to convince budget holders of the benefit of investing
  4. In contrast to a ‘big bang’ solution there is an opportunity to stop at any point once an optimal level of capability is recognised.

Prognostics for some is revolutionary enough, so an implantation approach of evolution not revolution will seem far more appealing across an organisation, making it as painless as possible!

Tell me more

We’re working with world-leading companies to help them embrace prognostics. Right now, we’re offering a 3-month free trial of our PROGNOSYS prognostics and condition monitoring software. PROGNOSYS will let you predict when your machines are likely to fail, without the cost or complexity of traditional solutions.

Let's get started

 

machining.jpg

Keep me notified

Most Read

Try Our Free ROI Calculator