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Laying Asset Management Foundations for Success

Start with the right foundation.

When you’re managing a large portfolio of physical assets, your ability to achieve long-term and sustainable success depends on fundamental building blocks:

  • Practices, Processes, and Procedures
  • Master Data and Coding Structures
  • Naming Conventions and Taxonomies
  • Policies, Strategies, and Objectives
  • Roles and Responsibilities
  • Key Performance Indicators

Collectively, these building blocks form a model for how your organization manages its physical assets.

This model is the foundation for your asset management operation.

Build a model for enterprise asset management.

An asset management model (sometimes called a “management system” or “regime”) consists of documented standards that formalize how maintenance, MRO storeroom, and procurement operations execute their work – and how they work together – across the enterprise. By standardizing and coordinating activities, a model ensures that a business can deliver on its asset management goals. These goals may include:

  • Generating rich, reliable EAM/CMMS information.
  • Lowering MRO costs and increasing ROA.
  • Improving maintenance productivity and efficiency.
  • Increasing equipment uptime and reliability.
  • And many more.

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