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Overview of Key Performance Indicators (KPIs)
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)
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Realized Benefits from RBI Implementation - A Recap of the Fall 2018 Meeting of the Minds Roundtable DiscussionNovember/December 2018 Inspectioneering JournalBy Nick Schmoyer at Inspectioneering
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.
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September/October 2018 Inspectioneering JournalBy James "Chezo" Cesarini, PE at Pro-Surve Technical Services, LLC
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 required to complete the turnaround.
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September/October 2017 Inspectioneering JournalBy Daniel Cypriano at Petrobras, and Henrique Ventura at Petrobras
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 improved use of equipment.
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July/August 2017 Inspectioneering JournalBy John Reynolds at Intertek
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 FEMI excellence.
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September/October 2016 Inspectioneering JournalBy John Reynolds at Intertek
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 those doing the work at the field level? That’s what I will try to address in this article.
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May/June 2016 Inspectioneering JournalBy Jeffrey Foushee at Pinnacle Advanced Reliability Technologies, and Ryan Myers at PinnacleART
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 inefficient and counterproductive to make decisions based on data in its raw form.
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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 four key business drivers of risk (i.e. regulatory compliance, operations, and profits), and involves several distinct business methods involving people, processes, and tools/technology.
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Keys to Success: How to Design and Use Effective Reliability and Integrity Program Assessments to Drive Sustainable ImprovementsJanuary/February 2016 Inspectioneering JournalBy Walt Sanford at PinnacleART, and Mauricio Olivares at Pinnacle ART
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.
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BlogOctober 21, 2015 By Nick Schmoyer at Inspectioneering
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 is an important metric for developing proper plant inspection staffing numbers. Inspection managers, among other facility decision-makers, may benefit by knowing this ratio relative to what exists at their own site.
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November/December 2014 Inspectioneering JournalBy Greg Alvarado at Inspectioneering Journal, and Michael O. Nichols at Marathon Petroleum Company
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 true. Often the efficacy of our inspection programs is measured against such goals.
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May/June 2014 Inspectioneering JournalBy John Reynolds at Intertek
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).
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BlogSeptember 16, 2013 By John Reynolds at Intertek
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 safety event associated with a failure of pressure equipment.
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BlogMay 13, 2013 By Greg Alvarado at Inspectioneering Journal
This is my third of three posts on Key Performance Indicators (KPIs) based on requests and discussions on the issue.
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BlogApril 29, 2013 By Greg Alvarado at Inspectioneering Journal
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 dangerous performance in our quests to achieve certain objectives and goals.
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BlogApril 22, 2013 By Greg Alvarado at Inspectioneering Journal
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 Inspection Summit. Three of my blog posts this month will cover this subject.
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March/April 2013 Inspectioneering JournalBy Greg Alvarado at 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 numerous times at the recent API Inspection Summit. Performance is the key.
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July/August 2012 Inspectioneering JournalBy John Reynolds at Intertek
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 improvement programs to apply new and better techniques and methods by learning from what has already occurred.
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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 document classifies process safety indicators into four tiers of leading and lagging indicators. Tiers 1 and 2 are suitable for nationwide public reporting and Tiers 3 and 4 are intended for internal use at individual sites. Guidance on methods for development and use of performance indicators is also provided.
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June 25 2019Location: Online Webinar
Hosted By: PinnacleART
Dates: June 25, 2019
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June 25 - 27 2019Location: Houston, Texas, United States
Hosted By: Stress Engineering Services
Dates: June 25, 2019 - June 27, 2019
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November 18 - 21 2019Location: Atlanta, Georgia, United States
Hosted By: American Petroleum Institute
Dates: November 18, 2019 - November 21, 2019
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August 13 - 14 2019Location: Houston, Texas, United States
Hosted By: Asset Optimization Consultants
Dates: August 13, 2019 - August 14, 2019
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October 14 - 17 2019Location: Denver, Colorado, United States
Hosted By: American Petroleum Institute
Dates: October 14, 2019 - October 17, 2019
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