Data-Driven Methodology Aligns Near-Term Operational Decisions With Longer Term Strategies
July 21, 2011 — Ivara Corporation and CopperLeaf Technologies Inc. today announced a partnership to deliver an exclusive solution for the Electric Power industry. Ivara and CopperLeaf are recognized leaders in Asset Performance Management (APM) and Asset Investment Planning and Management (AIPM) software and methodologies respectively. The integrated solution is designed to align near-term operational decisions with longer term strategic decisions using a data-driven methodology considering asset risk, cost, reliability and performance. The solution is also designed to integrate the engineering and financial communities in an effort to optimize those decisions and ensure both capital and operations & maintenance investment activities are aligned across all time horizons.
CopperLeaf C55 is an Asset Investment Planning and Management solution that helps organizations make risk-informed decisions by optimizing budgets and plans, forecasting performance, and comparing investment options – i.e. managing their asset investments effectively. It is an enterprise-wide, purpose-built software solution that provides the analytics and reporting to support planning and budgeting of expenditures over multiple years given financial constraints, performance obligations, and risk tolerances. In particular, C55 is the must-have tool for the optimization, communication and defense of asset plans in utility rate case applications.
Ivara EXP Asset Performance Management software is an enterprise system used by Engineering, Maintenance and Operations to improve asset performance and reliability, increase equipment availability and reduce operating costs. EXP is a cohesive and integrated platform to develop, implement and manage a living equipment reliability program; automating the collection, consolidation and analysis of equipment condition data and its relative risk to the organization. EXP is the central system that integrates asset data management tools with field and plant process and other day-to-day operational systems, and is the engine for proactive analytics and decision making related to managing asset health, extending asset life, and mitigating risks associated with equipment failure.
Ivara/CopperLeaf joint customers will use Ivara EXP asset health indices along with reliability and performance metrics as input to investment projects for maintenance, upgrade, life extension, and replacement that is managed using CopperLeaf C55. Together, EXP and C55 provide the foundation for fact-based decisions to get the right balance between ongoing maintenance, capital replacement, and overall risk mitigation. With this solution, utility rate applications become more defensible because they are backed by engineering data; decision-making and planning processes become more transparent and efficient; cycle-time to explore scenarios and generate new plans is reduced; and savings are achieved through optimized maintenance and capital plans.
“The Ivara / CopperLeaf partnership is in response to the emerging demand for an unmet need in the transmission industry but is relevant in all capital intensive businesses” said Paul Marshall, CEO, Ivara. “Ivara and CopperLeaf combine two best-of-breed enterprise applications to achieve significant savings by considering asset performance and reliability in investment planning decisions.”
“Our two applications are a perfect match” commented Judi Hess, CEO, CopperLeaf. “Both apply the leading methodologies in risk-informed decision-making to optimize our customers’ asset fleet performance, enabling them to meet their organizational objectives. The EXP / C55 combination sets the standard for complete asset life cycle management.”
CopperLeaf and Ivara will discuss their strategy for asset performance management and investment planning at a workshop hosted by Exelon Corporation on September 15, 2011 in downtown Chicago. For more information, contact Ivara at 1-877-746-3787, ext. 287.
About CopperLeaf Technologies
CopperLeaf helps asset-intensive organizations re-think the traditional approach to capital planning, asset life-cycle planning, and budgeting. We pioneered Asset Investment Planning and Management (AIPM) to help organizations integrate planning, analysis, approval, and execution so that they can make risk-informed asset related decisions that are effective, transparent, and focused on the long-term performance of the organization. Since 2000, we have been empowering utilities and other asset intensive organizations to make decisions with greater confidence.
VP Marketing and Business Development
TEL: +1 604 4840251
email: CopperLeaf Media Relations
Ivara is the leader in asset performance management software and consulting services to instill a proactive process for Maintenance and Operations to care for production equipment. Ivara® EXP Enterprise prevents industrial equipment failure, increases production and lowers costs for better business performance. EXP transforms data into real-time intelligence enabling plant management to make fast and accurate business decisions. Customers worldwide, representing a cross section of asset intensive industries, realize the benefits of EXP every day. For more information about Ivara, visit www.ivara.com.
Director of Marketing
TEL: +1 905 632-8000 ext. 271
email: Ivara Media Relations
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