July 2018

IIoT

Improving certainty in uncertain times by building an IIoT-ready plant

Historical statistics indicate that 25% of projects have budget overruns and a further 50% have schedule slippage.

Shamsi, M., Emerson Automation Solutions

Historical statistics indicate that 25% of projects have budget overruns and a further 50% have schedule slippage. Therefore, project strategies are needed to manage risks efficiently while delivering increased value not only to the project, but also to the ongoing operation of the asset.  In this context, there is sometimes a perception that integrating or specifying a digital infrastructure to enable the Industrial Internet of Things (IIoT) in a project is not a requirement, but is simply “nice to have” or “gold plating.” Furthermore, lack of knowledge can lead project management to see IIoT readiness in a scope as a liability rather than as an asset for the project and future operations.

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