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Combining PLM With a Digital Twin Can Uplevel Your Business

From start to finish, projects encounter roadblocks. These challenges require analysis, planning, and management to stay on track. By using proper project lifecycle management (PLM), your team can easily manage each phase and maximize the return on every proposal. Your team needs to understand the benefits of having the right tools to help them succeed before getting ready to work.

Follow along as we cover the basics of PLM, the consequences of poor management, and how digital twin technology can enhance project management at every step.

What Is Project Lifecycle Management?

Project lifecycle management is the process of managing a project from beginning to end, ensuring every step is accomplished correctly and efficiently. The project lifecycle is typically broken up into four separate phases, each requiring different steps and disciplines to complete. These phases include:
  1. Initiating: defining strategy parameters, goals, budget, etc.
  2. Planning: the “how” of a project, identifying steps to achieve a final goal
  3. Execution: completing each step of the plan while staying on budget and timeline
  4. Closure: finishing the project, delivering results, and analyzing performance
Each phase contains a multitude of opportunities for failures or setbacks, which is what makes PLM so vital to your project’s success.

The Benefits of Proper PLM

Successful PLM requires a qualified project manager, reliable software, and accurate data to keep your venture running smoothly. Digital twin technology is a solution to your project manager’s information needs. A digital twin is a virtual simulation of your project, which provides a data hub, cost analysis, and design insight for future plans. Using a digital twin program gives your project manager access to up-to-date, real-time data in one location.
Once your team has the tools needed to manage your project, they’ll begin to see the benefits of proper PLM, including:
Meanwhile, improper management results in higher costs, missed deadlines, lost productivity, and loss of customer relationships in some worst-case scenarios. If your PLM is lacking in any of these phases, it could cause your project to derail and fail. A bad startup can lead to a lack of structure. Poor planning causes a lack of clarity on how your plan will be completed. Faulty execution leads to lack of finished product, which prevents your project from closing. Every phase is connected, which is why PLM is so critical. When these projects impact other projects, like managing a fluid processing system, it could lead to further setbacks.

PLM for Fluid Handling Systems

Your fluid system is a project all on its own, with unique stages that need to be managed. Fluid handling systems are constantly changing, improving, and restructuring to help your facility achieve its processing goals and complete projects. Your project manager will oversee the design and build of your system, work with your team to optimize its use, analyze its performance, and work to deliver results to you and your customers.

Properly managing your system’s design will reduce operational costs and energy consumption while optimizing output for other plans. With a properly managed lifecycle of your system, your results will overflow into other projects, creating further successes.

How a Digital Twin in Pipe-Flo Improves Your PLM

Your greatest asset to PLM is data, and digital twin technology is your data’s greatest ally. Digital twin technology through Pipe-Flo, a Revalize brand, allows your team the opportunity to have a single source of knowledge for your entire system.

By creating a digital twin, your team can virtually build your fluid handling system before ordering, ensuring it will run smoothly when installed. Once your system is running, analyze and collect data from every component to measure individual performance, costs, and energy consumption. If you’re looking to expand, virtually plan out your new additions to guarantee they will connect with your existing system.

Pipe-Flo offers digital twin technology that is ready to level up the way your team approaches future projects. Schedule a demo to learn more about how Pipe-Flo can help you save time, money, and effort.

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