Q: Is Performance Management and Asset Management bundled together as one application?A: No, they are two separate applications. Performance management focuses on monitoring business performance using KPIs and will leverage asset-specific data generated from the asset management solution. Honeywell’s asset management solution is designed to manage the preventive maintenance programs and focus on improving plant capacity and availability.
Q: What are KPIs?A: KPIs are Key Performance Indicators and function as performance benchmarks that your company wants to measure on a regular basis to monitor overall business performance. It’s essentially a scorecard for business operations. KPIs may be based on process, production, financial or safety metrics, such as inventory turnover, safety rating, budget to actual metrics, efficiencies (labor, order), throughput, late orders, etc. If needed, Honeywell services can assist in helping your company define KPI metrics.
Q: How easy is it to access this information?A: It is very easy because it uses a web-based application. Any PC that has a standard web browser can access the information, and will only see the information that is pertinent to their role in the organization.
Q: Will it help with tracking compliance to Sarbanes Oxley, FDA and other agencies?A: Yes, in fact, KPI scorecards are an effective way to track any unusual or abnormal business process that would impact compliance. Metrics can be developed to monitor and track any conditions that would impact compliance to regulations.
Q: Can KPI performance data be exported to other applications?A: Yes. Performance data can be linked with other Business.FLEX applications as well as third-party applications for reporting purposes.
Q: What platform is required for Performance and Asset Management?A: Both applications are part of a complete portfolio of advanced software applications in Experion. The Experion platform provides the foundation for integrating all process control and safety management systems into a single, unified architecture.