Aspen Fidelis Reliability Software Quantifies Financial Benefits Across the Plant Asset Lifecycle

Aspen Fidelis Reliability is a discrete event simulation tool that constructs plant models and runs multiple scenarios to analyze the impact of variables such as equipment capacities, operating logic, and production schedules on system-wide performance over time. This helps EPCs and owner-operators gain confidence in their designs and improvement efforts and realize significant financial benefits across all phases of the plant lifecycle. The software uses the Monte Carlo simulation technique, which is based on repeated random sampling to obtain numerical results. This assigns random values to model variables – for example, process downtimes and equipment repair times – based on probability distributions. According to the company, since this approach considers the uncertainty inherent in complex systems, it can provide better solutions than approaches based on deterministic analysis in which fixed values are used for model variables.