A transformer failure in the field doesn’t just cut power—it triggers massive fires, destroys property, and can result in loss of life.
Manufacturing equipment that goes down unexpectedly costs industrial companies billions annually. These scenarios happen every day, creating a perfect storm of disruption that touches communities, economies, and ecosystems worldwide.
The hard truth: while not all disruptions can be foreseen, most absolutely can be. The key lies in what I call the three P’s of operational resilience: Predict, Prevent, and Perform.
The Price of Playing Catch-Up
Most organizations run equipment until it fails, then scramble to fix it. This reactive approach isn’t just expensive—it’s dangerous.
According to research from IFS, oil and gas companies lose an average of 32 hours of productivity each month to unplanned downtime, at a cost of $220,000 per hour. That’s $84 million per facility annually. Meanwhile, a single hour of network downtime now costs over $1 million—more than triple the price tag from just ten years ago.
The challenge intensifies when you factor in operational constraints. Utilities must modernize and prepare for climate change impacts while maintaining aging infrastructure with fewer skilled workers than ever before. They’re pressed to invest in sustainable energy technologies while keeping the lights on—all with inadequate budgets and a shrinking workforce.
But financial losses tell only part of the story. When critical infrastructure fails, the ripple effects extend far beyond balance sheets into environmental disasters and global supply chain disruptions.
Predict: Seeing Problems Before They Strike
The first “P” represents a fundamental shift from reactive to proactive asset management. Enterprise asset management technology now leverages artificial intelligence, machine learning, and IoT sensors to detect problems before they manifest as failures.
Modern predictive maintenance analyzes patterns in vibration, temperature, pressure, and dozens of other variables to identify subtle changes that precede equipment failure. This isn’t fortune-telling—it’s data science applied to operational assets.
Mining company LKAB exemplifies this approach. Advanced EAM technology has given them transparent processes and consolidated data that provide high-quality business insights. This visibility helps them predict equipment issues while tracking progress toward their goal of carbon dioxide-free production by 2045.
Prevent: Stopping Failures in Their Tracks
Prediction without action is merely expensive monitoring. The second “P” transforms insights into interventions. When sensors detect that a pump’s vibration patterns indicate bearing wear, smart EAM systems automatically trigger maintenance workflows before failure occurs.
This preventive approach extends beyond individual assets to encompass entire operational ecosystems. Advanced platforms optimize maintenance schedules across multiple facilities, balance resource allocation in real-time, and adjust production schedules to accommodate planned maintenance—all while maintaining productivity targets.
The prevention imperative becomes even more critical when organizations face workforce constraints. With fewer skilled workers available, every service call must count. Modern mobile workforce management systems intelligently match work orders to the most appropriate technicians, bundle multiple tasks to reduce travel time, and leverage augmented reality to connect field workers with remote experts when specialized knowledge is required.
Take BW Energy for example. The global oil and gas exploration company has achieved lower development costs, faster project delivery, and reduced carbon emissions through comprehensive EAM technology—proving that prevention delivers benefits across multiple business objectives simultaneously.
Perform: Optimizing for Maximum Impact
The third “P” focuses on continuous optimization. Preventing failures isn’t enough; enterprises must ensure their assets consistently operate at peak efficiency while adapting to changing conditions and resource constraints.
Contemporary EAM technology provides enterprise-wide visibility that enables organizations to set consistent business objectives across sites and geographies, standardize best practices, and achieve multiple goals simultaneously—productivity, sustainability, and regulatory compliance.
With advanced workforce planning and scheduling optimization systems that provide a singular, real-time view of operations, planners and dispatchers can explore what-if scenarios before settling on the safest, most efficient, and most cost-effective plan. These systems calculate outstanding work based on business value, assess job criticality, and assign the most appropriate technician to perform the right work at the right time.
This holistic approach recognizes that enterprise assets contribute far beyond operational productivity. They generate critical data that informs strategic business decisions, supports sustainability initiatives, and ensures regulatory compliance. When assets perform optimally, they become enablers of broader business success.
Building for an Uncertain Future
Organizations that master the three P’s will find themselves better positioned to navigate whatever disruptions lie ahead. They’ll experience fewer unexpected failures, lower operational costs, and improved sustainability performance. Most importantly, they’ll have the agility to adapt and thrive in an increasingly volatile world.
When it comes to maintaining operations, the choice is clear: continue reacting to disruptions as they occur, or proactively predict, prevent, and perform your way to operational resilience. The technology exists. The methodologies are proven. The question is whether leaders will seize this opportunity before the next disruption strikes.
About the Author
Kevin Price is the Global Head of Enterprise Asset Management at IFS, where he leads the development of next-generation EAM solutions for companies worldwide. With more than 20 years of experience in asset management and operational technology, he specializes in helping organizations build resilient, data-driven operations.
Featured image: Pugun & Photo Studio
