Asset Management
Another conspiracy theory debunked. Your business has various insurance coverages including business continuity. You pay quite a hefty premium for that coverage so you believe you are covered. But are you really? Read more “Insurance: are you really covered?”
Asset Management
Like Surfside, are you “inspecting to failure”?
In June 2021, we learned about the partial collapse of a condominium in Surfside Florida, with devastating results – only a few survivors, and many fatalities. The building had actually been inspected in 2018 by a qualified engineer, and parts of it were deemed to be “structurally unsound”. Read more “Surfside – Inspecting to failure!”
Asset Management
A well-designed maintenance program should eliminate the need to do condition assessments. These assessments are a form of condition monitoring, so why not include them in your proactive maintenance (PM) program? They are carried out to determine the current condition of an asset, determine if any remedial work is required, make an estimate of how long it will last, and forecast timing for eventually replacing the asset. Read more “Are condition assessments needed?”
Asset Information Management
Asset Information is far more than just data, and it must be managed. We want to be informed, not distracted by our data. Our goal is to make “evidence-based decisions”. The “evidence” of what is going on can be very useful if it is accurate, timely, complete, and fit for its intended purpose. Increasingly, we are turning to our computers for that evidence. But do we find it? Or do we end up searching through data looking for that “needle in the haystack”? Do we spend our time making informed decisions, or seeking information from an increasingly large and confusing array of dis-organized, out-of-date, inaccurate, and incomplete data? Data must be fit for purpose.
Read more “Are you informed, or data distracted? You need AIM”
Asset Management
Here’s a case where they didn’t know how to keep the boss out of jail! In Jan 2019, a mine tailing dam (the structure used to contain waste from mining operations) collapsed. The video below shows the event. 259 people were confirmed dead and 11 declared missing. Cause – liquefaction – a commonly occurring phenomenon, and one that this particular mine had been warned about. Outcome – fatalities and associated human cost, suspended operations (for a brief period), company reputation, criminal charges (executives and engineering consultants). Risk management is an often neglected part of our job. Read more “How to keep the boss out of jail” 
Asset Management
In part 1 of this 2 part series, “Maintenance and Reliability Maturity”, I point out that achieving the maximum value from your physical assets will require excellence in 2 main dimensions, efficiency, and effectiveness. Those are described more fully in our recent book, “Paying Your Way“. I also promised a Maintenance and Reliability Maturity Assessment tool. That tool is now available to you, our readers.
The link below will take you to a web-page that is only accessible via the link – it is not included in our website’s menus or other links. When you click on it, you will see a brief explanation of how to use it and then a series of 10 questions, 5 on efficiency, and 5 on effectiveness. In a few of them we use terms that have precise definitions, so please read those definitions (in light blue boxes) before entering your answers to the questions in the light green answer cells. Read more “Maintenance and Reliability Maturity – 2” 
Asset Management
Managing Maintenance and Reliability Part 1 an Interview with MRO Magazine Read more “Maintenance and Reliability, part 1 with MRO” 
Asset Management
Maintenance and reliability maturity provides an understanding of both how well we do maintenance and how good is our maintenance program. One delivers a major business result, the other is a big part of how you get there. Doing maintenance with precision and care, so the job is done once and done well by the right people and without delay is what maintenance organizations strive for. Some achieve it, some struggle to do so. If they can achieve that, then they are being efficient.
That achievement pays for itself in completed work at the lowest cost to the organization in terms of spending and time to execute. On the graph below, that takes them up the vertical scale. Read more “Maintenance and Reliability Maturity – 1” 
Asset Management
Asset Prioritization and criticality are used to provide a structured approach to determining the relative organizational risks and failure consequences associated with assets. This provides a means for the organization to focus on critical risks to the business.
Risks are categorized by the nature of the risk that the organization needs to manage. Risk categories can include: Read more “Asset Prioritization and Criticality” 
Asset Management
Asset Management is more than maintenance and reliability, yet many often think they are the same. Asset Management is far broader and considers the entire life cycle.
How does your organization differentiate between asset management, and maintenance and reliability?
Early in the discussions around asset management, some organizations simply renamed their Maintenance and Reliability departments to Asset Management departments, even though they continued to do the same tasks and activities they always did. Read more “Asset Management is more than Maintenance” 
