Ivara Corp. and CopperLeaf Technologies Inc. have announced a partnership to deliver a solution for the electric power industry. Ivara and CopperLeaf provide asset performance management (APM) and asset investment planning and Mmanagement (AIPM) software and methodologies, respectively. The integrated solution is designed to align near-term operational decisions with longer term strategic decisions using a data-driven methodology considering asset risk, cost, reliability and performance. The solution is also designed to integrate the engineering and financial communities in an effort to optimize those decisions and ensure both capital and operations and maintenance investment activities are aligned across all time horizons.
CopperLeaf C55 is an Asset Investment Planning and Management solution that helps organizations make risk-informed decisions by optimizing budgets and plans, forecasting performance, and comparing investment options – i.e. managing their asset investments effectively. It is an enterprise-wide, purpose-built software solution that provides the analytics and reporting to support planning and budgeting of expenditures over multiple years given financial constraints, performance obligations, and risk tolerances. In particular, C55 is the must-have tool for the optimization, communication and defense of asset plans in utility rate case applications.
Ivara EXP Asset Performance Management software is an enterprise system used by Engineering, Maintenance and Operations to improve asset performance and reliability, increase equipment availability and reduce operating costs. EXP is a cohesive and integrated platform to develop, implement and manage a living equipment reliability program; automating the collection, consolidation and analysis of equipment condition data and its relative risk to the organization. EXP is the central system that integrates asset data management tools with field and plant process and other day-to-day operational systems, and is the engine for proactive analytics and decision making related to managing asset health, extending asset life, and mitigating risks associated with equipment failure.
Ivara/CopperLeaf joint customers will use Ivara EXP asset health indices along with reliability and performance metrics as input to investment projects for maintenance, upgrade, life extension, and replacement that is managed using CopperLeaf C55. Together, EXP and C55 provide the foundation for fact-based decisions to get the right balance between ongoing maintenance, capital replacement, and overall risk mitigation. With this solution, utility rate applications become more defensible because they are backed by engineering data; decision-making and planning processes become more transparent and efficient; cycle-time to explore scenarios and generate new plans is reduced; and savings are achieved through optimized maintenance and capital plans.