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performance indicators

Maintenance Costs as a Percent of Asset Replacement Value: A Useful Measure?

Maintenance Costs as a Percent of Asset Replacement Value: A Useful Measure?

Someone recently asked for a benchmark for maintenance costs (MC) as a percent of asset replacement value (ARV) for chemical plants, or MC/ARV%.

Strategic Building of Key Performance Indicators: How We Made It? A Winning Case Study

Strategic Building of Key Performance Indicators: How We Made It? A Winning Case Study

Having representative key performance indicators (KPIs) is important in gaining needed control to assure fulfillment of achievement for organizations and stakeholders’ goals and needed values. But they are only useful if we succeed to identify the right ones for our business and processes. They will only deliver critical information and targeted outcomes if we built them by strategic, meaningful, simple top-down approach.

Redefining Asset Performance Management

Asset Performance Management Defined

If you work for an asset intensive organization and your role involves ensuring value from assets, you are unlikely to organize the world by software applications as software marketing professionals or software analysts’ do in order to describe these applications and functions to chief information officers, IT leaders or other chief officers.

Why Maintenance Cost  to Asset Value Ratio Is Not a Good Benchmark

Why Maintenance Cost to Asset Value Ratio Is Not a Good Benchmark

A commonly used benchmark for maintenance activities is the ratio of maintenance cost to asset value (MC/AV). Some medical equipment maintenance professionals also claim MC/AV to be the best or most reliable benchmark. Maintenance cost includes both scheduled (often erroneously called preventive maintenance) and nonscheduled (i.e., repairs) maintenance costs, whereas asset value has various interpretations. This article challenges the validity of MC/AV as a benchmark or even a key performance indicator for maintenance activities in most, if not all, industries.

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Argo Consulting

Argo Consulting

Argo is an operations improvement consulting firm that breaks through the traditional barriers of the consultant-client relationship. We are hands-on consultants who deliver real results and no excuses.

 Cohesive Solutions Inc. Announces New Propel™ Integration with IBM Maximo

Cohesive Solutions Inc. Announces New Propel™ Integration with IBM Maximo

Cohesive Solutions Inc. announces a strategic development between IBM Maximo and Propel called the Propel iFrame Portlet for Maximo.

Metrics vs. KPIs: Lessons from “Alice in Wonderland”

by G. Lance Jakob and Anthony Honaker

We can learn wonderful lessons from the clever literary characters Lewis Carroll created. The exchange between Alice and the Cheshire Cat illustrates the need for purpose and context in the decision-making process. We often face pivotal decisions at work, but without empirical insight, we're left aimlessly chasing white rabbits.