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Maintenance and finance – partners
This is a 2 minute read! It is intended to help give maintenance and asset management professionals perspective on what accounting and finance professionals do, and to show the similarities between what we both do for our companies. Understanding this, is a key to becoming partners in sustaining our businesses. After all, we both have the same goals in mind.To begin with, we physical asset folks restore and sustain functionality of our physical assets. Accountants keep all of the business keep score by tracking what has happened with the business money. Read more “Maintenance and finance – partners”
This article takes about 4 minutes to read. We want to make “evidence based decisions”. Evidence of what is going on can be very useful. 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 data? Information technology is complex, difficult to manage and a challenge getting people to use it. It can also be either a tremendous corporate asset or a huge drain on resources. 
Reliability Centered Maintenance (RCM) is method for determining the most appropriate failure and consequence management strategies for your physical assets in your current operating context. The first four questions in the RCM method, as defined in standard, SAE JA-1011, “Evaluation Criteria for Reliability Centered Maintenance (RCM) Processes,” utilize the time proven engineering method, Failure Modes and Effects Analysis (FMEA). 
Reliability Centered Maintenance has been around since the 1970’s and it has proven to achieve amazing results wherever it has been used properly. As a reliability method, it guides decision making based on available evidence about past, and expected future, failures. It makes sense that failure data be part of that evidence. But do you need a lot of data?