Don’t score asset criticality just yet. Make sure these four things are in order first.
Asset criticality is the value a business assigns to its most vital equipment based on schema of its own design. Usually, criticality is visualized on a ranked list of work orders and orders in progress known as an asset criticality ranking (ACR).
So long as users set up ACRs properly, they create a dynamic hierarchy of maintenance repairs that tells technicians which asset is most deserving of their attention and what, when fixed, will return the greatest value to the organization when compared to the labor costs expended.
What four essentials must exist before stakeholders begin scoring assets based on criticality?