A wise man once said: "Without  vision, the people perish."  The same can be said for asset management.  Effective asset management does not happen w/o a vision & codified set of tenets that maintain focus on what is important.  This is consistent with ISO 55000.  Development of a strategic playbook is a facilitated process that results in an objective & sustainable approach to asset management

Your Computerized Machinery Management System software should be the single system of record for all transactional data associated with the maintenance of the site's assets.  Effective CMMS configurations also leverage ISO 14224 & incorporate all pertinent asset data & specifications necessary for effective asset management. 

These analyses are effective tools in either the identification & prevention of failures as is the case with FMEAs and RCMAs.  When failures do occur, a robust RCA (Root Cause Analysis) is an effective tool sufficient to identify the root cause(s), & then implement corrective actions to prevent future occurrences.  These facilitated analyses are performed in conjunction with your subject matter experts.

Improving your asset management program requires ascertaining current status relative to best-in-class.  Best-in-class performance results in improved uptime & MTBF. Breakthrough analyses assess in the five pillars as identified within the SMRP Body of Knowledge.  Additionally, Mechanical Integrity programs can also be benchmarked. Advance your knowledge & asset management proficiency with a breakthrough analysis.

Reducing variability in the execution of maintenance tasks is a hallmark of an effective program.  This is best accomplished through the development of technical job plans that are sufficiently detailed & objective in nature, whose steps & actions specifically target the known failure modes of the asset.  In other words, the right task at the right time, on the right asset, effectively blending appropriate time-based strategies with applicable condition-based strategies.

According to Prosci’s Change Management research, initiatives with excellent change management are 6x more likely to meet objectives than those with poor change management. As a Prosci-certified change management practitioner, the change management landscape can be successfully navigated. 

Similar in function to Integrity Operating Windows (IOW), as defined in API RP 584, Reliability Operating Windows focus on best practices for rotating machinery by characterizing the necessary requirements to be considered at each major phase in the lifecycle of the asset, culminating in guidelines that will maximize MTBF while minimizing the total lifecycle cost.

The relative ranking of assets is an essential component of an effective asset management program.  Criticality ranking prioritizes assets so that finite resources are optimally applied for the execution of preventative & proactive tasks, for the development of robust maintenance strategies, & for the optimization of spare parts and inventory.

Excessive levels of spare parts and MRO inventory are indicative of a reactive organization.  Poorly organized & managed storerooms can further hinder pursuit of more reliable solutions.  Storeroom 5S optimization, inventory standardization & spare part level optimizations are tools used to effectively optimize inventory levels, balanced with an understanding of risk tolerance.