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Key Performance Indicators (KPIs)

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Key Performance Indicators (KPIs) are those metrics used by organizations to track and measure the performance or success of quantifiable values. KPIs can be used by individuals, businesses, facilities, and organizations to keep track of how close or far away they are to completing their goals. These goals can be process related, tied to efficiency or production, or related to an organization's finances, among a number of other useful metrics. KPIs should be selected in consideration of an organization’s overall goals. They should also be specific so that everyone within the organization is aware of exactly what they are attempting to measure

As they relate to asset integrity management and inspection engineering, some examples of KPIs include:
  • Reliability KPIs such as amperage draw on a machine,
  • Fixed equipment reliability KPIs such as leaks, overdue inspections, and exceedances of Integrity Operating Window limits,
  • The frequency of a Fitness for Service (FFS) assessment (Level 1, Level 2, or Level 3),
  • Number of inspectors per vessel,
  • Number of unscheduled shutdowns related to the fixed equipment reliability program,
  • Inhibitor performance, perhaps by corrosion rate measurement; and,
  • Risk-based inspection implementation

One important thing to remember about KPIs is that they are not ends unto themselves. Each KPI should be tied into the organization's overall goals, but they are not themselves the goal. It’s also important to note that every organization is different, thus every organization will have different goals and different indicators of performance. Just because a KPI metric works for one company, doesn’t mean it will work for another.

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Articles about Key Performance Indicators (KPIs)
Blog

We live in a world of metrics and key performance indicators. This isn’t a bad thing; in fact, it is vitally important. Good PSM requires accurate and complete metrics in order to ensure the systems are working the way they should.

Authors: Inspector Frank
May/June 2020 Inspectioneering Journal

Despite the recent challenges that the oil and gas industry has faced over the past couple of months, facilities have the unique opportunity to embrace change in company culture, build data-driven processes, and focus on measuring value.

Authors: Lewis Makin
November/December 2018 Inspectioneering Journal

Inspectioneering and PinnacleART hosted a roundtable discussion for a select group of mechanical integrity and reliability experts to explore whether or not operators are realizing actual benefits from implementing RBI at their facilities.

Authors: Nick Schmoyer
September/October 2018 Inspectioneering Journal

The most valuable unit of measure within a turnaround is not money, but time. Successful turnaround planners are now integrating the Detailed Inspection Planner (DIP) within their teams to increase the accuracy of planning and reduce the time...

September/October 2017 Inspectioneering Journal

Although value-drivers often differ between facilities, all can agree that effective asset management strategies should lead to better decision making. In this case study, the authors detail how process-based risk management strategies can make for...

Partner Content

In today's chemical and refining industries, sustained long term reliability of facilities is critical to profitability and competitiveness. In fact, history shows that differences in operating expenses between best-in-class refineries, and poor...

July/August 2017 Inspectioneering Journal

Are your key performance indicators actually driving improvement? Could they be more effective? In this actionable and concise article, John Reynolds is back again to discuss some KPIs you could be using to monitor your progress down the path to...

Authors: John Reynolds
September/October 2016 Inspectioneering Journal

Did you ever wonder where you fit into the entire hierarchy of a fixed equipment asset integrity management (FE-AIM) program? Or who is responsible and accountable for what aspects of FE-AIM at your site? All the way from top management down to...

Authors: John Reynolds
May/June 2016 Inspectioneering Journal

Data, in pure form, consists of raw, unorganized facts that need to be processed. Data can be found in databases, documents, drawings, reports, spreadsheets, and numerous other sources. Having data on hand is useful, however, it’s often...

May/June 2016 Inspectioneering Journal

This paper identifies the attributes and benefits of a data and metrics-driven management system focused on process safety design integrity and reliability relative to loss of primary containment (LOC). This management system process focuses on the...

January/February 2016 Inspectioneering Journal

Equipment integrity and reliability programs are essential for refinery and chemical facility operators. The processes of the programs are developed to ensure safety, optimize component life cycles, and promote smooth and economical operations.

Partner Content

Gecko's TOKA Flex robot is designed to give unprecedented access to piping systems with a robust ultrasonic data-collection capability. The Flex, our most advanced RUG robot, is equipped to find and collect the critical inspection data you need....

Blog

Toward the end of last year, Inspectioneering conducted a survey with the goal of answering the following question: "How many pressure vessels do facilities have compared to the number of inspectors responsible for them?" The answer to this question...

Authors: Nick Schmoyer
November/December 2014 Inspectioneering Journal

Key Performance Indicators or KPIs are important for businesses to track measurable progress, or a lack thereof, as compared to pre-defined goals or benchmarks. For those of us in the inspection, fixed equipment reliability world, the same holds...

May/June 2014 Inspectioneering Journal

There are typically three tiers to pass through for most fixed equipment mechanical integrity (FEMI) programs before they reach excellence in FEMI. In my 45 years in the FEMI business, I have observed FEMI programs in all three tiers (phases).

Authors: John Reynolds
Blog

From time to time, I’m asked why some operating sites don’t seem to pay adequate attention to the need to protect and preserve pressure equipment integrity (PEI). Too often a few sites don’t seem to "get it" until they have a major process...

Authors: John Reynolds
Blog

This is my third of three posts on Key Performance Indicators (KPIs) based on requests and discussions on the issue.

Authors: Greg Alvarado
Partner Content

Antea delivers highly flexible risk-based asset integrity software with 3D Digital Twin integration to optimize maintenance, reduce risk, and improve mechanical integrity for oil and gas, power generation, and chemical plants and facilities. Whether...

Blog

This is my second of three posts on Key Performance Indicators (KPIs) based on requests and discussions on the issue.  In part 1 of this series I provided a brief overview of KPIs and their ability to predict good, poor, and sometimes...

Authors: Greg Alvarado
Blog

Requests for key performance indicators (KPIs) related to equipment integrity management programs have appeared on Inspectioneering’s LinkedIn group discussion as well as other industry forums. It also came up numerous times at the recent API...

Authors: Greg Alvarado
March/April 2013 Inspectioneering Journal

A pattern of requests for key performance indicators (KPIs) related to equipment integrity management (IM) programs has appeared on Inspectioneering’s LinkedIn group discussion as well as other industry forums. Furthermore, the topic came up...

Authors: Greg Alvarado
July/August 2012 Inspectioneering Journal

This is the last out of the ten articles in this series. Clearly, Continuous Improvement (CI) has a major role in achieving excellence in PEI&R. All the advances we’ve made over the years in achieving excellence in PEI&R stems from our continuous...

Authors: John Reynolds
September/October 2010 Inspectioneering Journal

This recommended practice (RP) identifies leading and lagging process safety indicators useful for driving performance improvement and includes mechanical integrity related items. As a framework for measuring activity, status, or performance, this...

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