Continuous Asset Optimization (CAO) Working Group 

Previously called Asset Performance Management - APM Working Group

Continuous Asset Optimization (CAO) is an approach to managing the optimal deployment of assets to maximize profitability and predictability in product supply, focusing on real margin contribution by asset by product code. Rather than looking at an asset as a “black box” or on the basis of market value or depreciated value, companies can see how the asset is contributing to their profitability by modelling the asset/process and understanding the behaviour for real time inputs. In essence, CAO includes the development of a digital twin of the asset and applying machine learning to arrive at optimality in asset performance. CAO focusses on dynamically arriving at various possible future behaviours for different real time inputs to the model and thus it can act as a very effective tool for decision making for driving continuous optimality.  Since the internal structure of the asset/process is modelled and the different states and state transitions are identified as regards asset performance, CAO will provide for multiple levers at an operational level for achieving increased throughput, availability, reliability, etc., which will all lead towards better profitability. At a strategic level, CAO shall directly drive better return on assets.

Chair: Ananth Seshan, 5G Automatika

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WORKING GROUP:

MESA has formed an CAO Working Group to develop a guideline for the next generation APM practice. This guideline shall be disseminated in a series of workshops and piloted in the respective members' organizations. The outcome of the pilots shall be published. To participate in the CAO working group, please click here for more information.

Have questions or need assistance determining the group(s) that best fit your needs? Contact Abigail Zieger abigailzieger@mesa.org or  +1 480.893.6883. Interested in starting a new group? Contact Brandy Richardson brandy@mesa.org or +1 480.893.6883.


CAO Working Group - Statement of Objectives