An IOGP Task Force has concluded that Product Lifecycle Management – a standardized approach to the assigning, modification, transfer, and use of information across the industry – will improve efficiency, reduce costs, and create value.
In a strategy paper, the Project Lifecycle Management (PLM) Task Force concluded that:
- PLM for the oil and gas industry would comprise integration of owner and operator Asset Lifecycle Management (ALM) systems with contractor, supplier, and manufacturer PLM systems. It defines this as ALM+.
- The ability to create value from the various capabilities of ALM+ requires first the foundation of standardized data to facilitate data transfer and interoperability.
- Data architecture should respect the different needs of each use case and align them as different aspects to each physical or functional object.
- A nested framework of international standards should be used to bound and align development.
- Data alignment should be achieved using international standards for lists of properties, structure, and definitions.
- Development of an ALM+ strategy should be in conjunction with larger initiatives such as Industrie 4.0 and The Open Group.
“Digital transformation is increasingly changing business outcomes and is impacting all aspects of project delivery and the supply chain,” says Daniel Prentice, who led the task force.
“PLM is a process for managing the full lifecycle of complex information applied in the manufacturing industry and has the potential to impact the process industry significantly. It is therefore beneficial to review the principles of PLM to test if the benefits experienced in the automotive and aerospace industries can be translated to oil and gas.”
The PLM Task Force was set up to deliver a strategy paper that will create a common understanding of the applicability of PLM to the oil and gas industry, test assumptions around benefits, and understand the effort and risks relating to the implementation of PLM principles in a capital project environment. It is part of IOGP’s Digital and Information Standards Subcommittee (DISC), created in 2015 to address the lack of common industry data and information standards relevant to the oil and gas industry.