Recognize that there are two types of metrics, leading and lagging. Both are useful. To better understand the difference, ask yourself if you are operating within the organization as doctors or coroners? Are you taking a pulse of the organization or performing a postmortem on last month's performance? In most organizations, the reality is that everyone is focused on the postmortems. Often, the reason for the postmortem focus is those numbers are the most readily available from current reports. They are easy to identify and it is the quickest way to satisfy the demand for metrics. Lagging metrics are like looking in the car's rearview mirror; they only tell you where you have been and not where you are headed.

Ideally as a rule of thumb, you should have two leading metrics for every lagging metric. Leading metrics are performance drivers. Utilizing them allows you the opportunity to make preemptive actions to improve your chances of meeting the desired outcomes or lagging metrics. Leading metrics often measure activities or
even processes.

What Leading and Lagging Metrics Do You Use? Learn More.

Tip provided by: Jeff Shiver, CMRP, CPMM, CRL, RCM2 Practitioner
Managing Principal

People and Prcoesses

Upcoming Events

August 9 - August 11 2022

MaximoWorld 2022

View all Events
banner
80% of Reliabilityweb.com newsletter subscribers report finding something used to improve their jobs on a regular basis.
Subscribers get exclusive content. Just released...MRO Best Practices Special Report - a $399 value!
DOWNLOAD NOW
Conducting Asset Criticality Assessment for Better Maintenance Strategy and Techniques

Conducting an asset criticality assessment (ACA) is the first step in maintaining the assets properly. This article addresses the best maintenance strategy for assets by using ACA techniques.

Harmonizing PMs

Maintenance reliability is, of course, an essential part of any successful business that wants to remain successful. It includes the three PMs: predictive, preventive and proactive maintenance.

How an Edge IoT Platform Increases Efficiency, Availability and Productivity

Within four years, more than 30 per cent of businesses and organizations will include edge computing in their cloud deployments to address bandwidth bottlenecks, reduce latency, and process data for decision support in real-time.

MaximoWorld 2022

The world's largest conference for IBM Maximo users, IBM Executives, IBM Maximo Partners and Services with Uptime Elements Reliability Framework and Asset Management System is being held Aug 8-11, 2022

6 Signs Your Maintenance Team Needs to Improve Its Safety Culture

When it comes to people and safety in industrial plants, maintenance teams are the ones who are most often in the line of fire and at risk for injury or death.

Making Asset Management Decisions: Caught Between the Push and the Pull

Most senior executives spend years climbing through the operational ranks. In the operational ranks, many transactional decisions are required each day.

Assume the Decision Maker Is Not Stupid to Make Your Communication More Powerful

Many make allowances for decision makers, saying some are “faking it until they make it.” However, this is the wrong default position to take when communicating with decision makers.

Ultrasound for Condition Monitoring and Acoustic Lubrication for Condition-Based Maintenance

With all the hype about acoustic lubrication instruments, you would think these instruments, once turned on, would do the job for you. Far from it!

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%.