Innovation in Condition Monitoring and Predictive maintenance solutions in industrial contexts
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Innovation has become during the last decades the ultimate focal point to the majority of academics, managers and industrial market players due to the enlarged competition and the accentuated need to improve business performance. Industrial institutions around the world were for centuries concentrating mainly on the innovation of their products and processes through emerging technological manufacturing courses leading them to gain remarkable competitive advantages. However, the interactions between these inventive approaches and their surrounding dynamic environments appear to be quite complex and misleading in many cases. This has induced increased levels of uncertainty and unpredictability as well as a continuously variation of the relevant circumstances which are therefore inciting companies on discovering and implementing innovation furthermore in the monitoring, evaluation and maintenance in their related activities. Companies have come to the conclusion that by adopting innovation into their monitoring and predictive maintenance processes, their systems are likely to become more flexible than usual and capable to adapt to multiple situations either they are unexpected or not. The set objectives are still about achieving the best performance with respect to the imposed limitations of cost and time under the full integrated respect of the safety and environmental standards. These inventive programs have already brought a significant interest to the development processes in various programs by enabling frequent testing of new strategies and theories allowing firms to absorb more relevant data and conclude by that better supervision and evaluation in terms of efficiency and accuracy. Over and above, it will convey significant measures on the prognostic and prediction of failures and unsought courses of action. This will permit to acquire better results, more effective policies and improved assets. This thesis seeks to discuss the possible alliances between innovation, monitoring and maintenance solutions chiefly the predictive ones in industrial contexts and the way they are able to operate harmoniously all together. The project has the goal first of all to reveal to what extent monitoring and predictive maintenance as two of the most valuable processes in any given industrial establishment can be highly impacted by the introduction of ingenious tools and how these instruments can allow their analogous activities to reach the necessary outputs with the desired quality and performance targets. This thesis will also illustrate the exiting connections between condition monitoring, predictive maintenance and innovation and how the latter can be perceived as a business concept. The presented discourse will consequently identify some of the most currently breaking through innovative concepts following some study cases and examples in the accordant fields. It will describe additionally some of the primary factors to be taken into account by organizations while implementing such new strategies in monitoring and maintaining their assets that can maximize their utilization and profits. This thesis will finally display some viable enhancement potentials and recommendations for further studies in the matter. This thesis is aimed consequently at providing practical insight on how the application of novel technological practices associated to monitoring and predictive maintenance can provide ameliorated usage of assets in multiple industrial settings and what are the most suited means to achieve so.
Master's thesis in Offshore Technology: Industrial asset management