Asset Management Archives - Page 4 of 4 - HP Reliability, an Eruditio LLC company.

The 7 Requirements of an Asset Management System

Understanding the Requirements of the ISO 55001 Standard

When looking through the ISO 55001 standard, one may quickly become overwhelmed with the requirements. The ISO 55001 standard was written in a way that groups the requirements. Making it easier to understand & implement the standard.

This is different that subjects found in asset management (which we will discuss next week). These are the requirements that must be met if one to certify themselves against the ISO 55001 standard.

Context of the Organization

Since asset management is an organizational system, it is imperative that the organization takes into […]

By James Kovacevic|2019-04-19T15:49:58-04:00September 5th, 2016|Asset Management|Comments Off

The Key 3 Asset Management Documents

Understanding these asset management documents will set the stage for an asset management program.

Aligning an organization is a critical step to implementing and ensuring the success of an asset management system. Various change management techniques will be used to bring about the change, but how do you ensure the message, direction, and principles of the asset management program are communicated consistently and clearly?

There are 3 key documents in any asset management program;

Asset Management Policy
Strategic Asset Management Plan
Asset Management Plan

While the length, size, and level of detail will vary between […]

By James Kovacevic|2019-04-19T15:49:58-04:00August 29th, 2016|Asset Management|Comments Off

Making Asset Management Work

Understanding the Concepts and Principles of Asset Management

In order to implement an asset management system, it is vital to understand what is involved in an asset management system. The aspects involved have been tested over time through many different industries. These industries have proven to be what it takes to be successful.

So let’s see what it takes to be successful in asset management

Characteristics of good asset management

Cross-Functional – Asset management across functional boundaries, and is focused on extracting maximum value from the asset.
System based – the system is applied consistently […]

By James Kovacevic|2019-04-19T15:49:58-04:00August 22nd, 2016|Asset Management|Comments Off

Why Do You Need An Asset Management Program?

Understanding the Business Benefits of an Asset Management Program

Have you tried to upgrade / replace a piece of equipment due to the high cost of maintenance? What about having the process stopped by procurement because they are not aligned with the high upfront cost?

While there is a generally a common goal of ensuring the long-term success of an organization, the approach is not always cohesive. An asset management program is there to ensure an integrated and cohesive approach is in place. This cohesive approach ensures the organization is working towards a common goal.

A few […]

By James Kovacevic|2019-04-19T15:49:59-04:00August 15th, 2016|Asset Management|Comments Off

What is Asset Management?

Understanding the Value of an Asset Management System

All stakeholders have different perspectives, and as a result, place value on different aspects of an asset. Trying to balance all the requirements is not an easy task. Whether the requirements are performance, cost, or the level of risk. Keep in mind, that performance can not only be uptime or OEE, but the beauty of a park, or the condition of a road. This is where asset management comes in.

What is Asset Management?

To understand, what Asset Management is, we must first under what an asset is. […]

By James Kovacevic|2019-04-19T15:49:59-04:00August 8th, 2016|Asset Management|Comments Off