Measurement & Control business and Meridium®, Inc. (www.meridium.com) will introduce Production Asset Reliability (PAR), an integrated Asset Performance Management (APM) offering for an all-in-one view of equipment health at the GE Oil & Gas annual stakeholder meeting in Florence, Italy. Combining GE Bently Nevada System 1 condition monitoring and diagnostic applications with Meridium’s suite of enterprise performance management and asset strategy solutions, PAR provides a holistic and quantifiable view of operations, maintenance, availability and overall operating performance for production assets.

System 1, GE’s patented condition monitoring software, helps users quickly diagnose potential equipment and instrument health issues which can lead to equipment failure. Meridium’s applications provide structured processes and analytics to identify critical assets and failure modes, calculate equipment reliability and determine downtime impacts. The integrated PAR solution provides an end-to-end process that connects the machine diagnostics to the business context and execution to drive optimized maintenance practices and production loss management for all asset-intensive industries.

“Today’s measurement, monitoring and management systems are disconnected, and, as a result, organizations fail to leverage quality data for actionable insights,” said Art Eunson, general manager for Bently Nevada, GE Measurement & Control, a GE Oil & Gas division. “GE and Meridium’s integrated PAR offering empowers our customers with the ability to connect identification, evaluation and execution for greater asset optimization and productivity.”

Asset intensive organizations are challenged to maximize production, minimize costs, follow regulations and manage risk. To balance the demanding requirements, operators require a more cohesive system that assesses equipment performance and manages the resulting data. GE and Meridium provide this comprehensive solution for customers to effectively measure, monitor and manage each connected asset.

“With greater availability of big data and connected assets, there is an end-to-end picture of plant operations waiting to be tapped by organizations from the plant floor to the corporate office in order to stay competitive on a global scale,” said Bonz Hart, Meridium Founder and CEO. “PAR measures performance, quantifies risk and delivers analytics in real-time, providing customers with the insight needed to effect real change, improve efficiency and reduce maintenance costs.”