There is constant, intensive change in the capital projects and asset life cycle management. New challenges and opportunities are continually appearing thanks to dramatic developments in technology, uncertainty in global markets and the reduction in accessible energy and raw materials.
Added to this are the issues that the lack of collaboration between Engineering, Procurement and Construction companies (EPCs) and Owner Operators (OOs) causes. Software and carefully applied innovation have a role in supporting this change and can help organisations to overcome the significant challenges they face.
This paper introduces the concept of the Digital Asset and describes how it is created and used. It outlines the huge impact which the Digital Asset, properly employed, can have in enabling more efficient, more collaborative and more agile business processes at every stage in the life cycle of the physical asset.
This white paper is sponsored by AVEVA.