Transition on the road to Asset Management with Susan Lubell

Asset management means to get the best value from your assets in a collaborative way. It helps you manage your assets safely and in a cost-effective manner. The organizations need to understand the risks involved in introducing unsafe practices into the field. These unhealthy practices can put the lives of your engineers at risk and cost you heavily in terms of asset damage and equipment repairs. Asset management is a journey and even though your organization might already be doing asset management, there s always room to improve.

In this episode, we covered:

  • The first steps of Asset Management
  • Asset Management isn’t a crash diet!
  • What departments should be involved?
  • And much more!

The first step to start with asset management in your workplace is to know how far along are you in this journey? And how much can you improve by implementing best practices and advanced methods? It is not an easy task and it requires a holistic approach where you need a cultural change to implement it successfully. You would need the support of management and you will have to get everyone on board for it to really work. You need to take a look around into what you have already in place and then, you need to have a long-term plan towards consistent improvement.

Any organization that wants to successfully implement asset management s holistic approach needs to involve and integrate every department into this initial stage. They need to realize that asset management is not just for maintenance and reliability personnel, it is for everybody. It is not a quick way to success, so you need to be able to understand the objectives of the organization. Everyone should know what is the overall direction of the organization? Where they are at present and where are they headed? The type of business and industry focus matters a lot in what value you are looking for to derive.

The management and top-level executives have a huge role to play when it comes to integrating business processes and involving everyone in this holistic, collaborative asset management journey. They need to know the weaknesses and strengths of the organization and they should be able to bring teams together to achieve a common goal. They need to be thinking forward and they should always start by giving team smaller objectives. When teams are successfully hitting smaller targets, their confidence and trust in each other build up. Then, they can easily work together to get larger targets and derive that asset value throughout the organization.

You can just start by giving the team an overview of asset management and then assign them smaller tasks for practical implementation. You can use that vocabulary of asset management to let them know how can it help them in terms of operations and cost management? It all comes to creating awareness and then managing that change the right way. Once you have built in that knowledge and desire part into your asset management program, it becomes easy to train teams and derive the real value. The organizations should involve everyone in this journey and use a broader perspective.

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