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.

Learn More

Tip provided by