Understanding Asset Hierarchy with Shon Isenhour and Brandon Weil

Asset hierarchy is very important to utilize the limited resources of an organization in the best way possible. It helps manage time and cost by prioritizing our assets. That s why every organization needs to have a hierarchy. There are a lot of standards out there to help you build an asset hierarchy. ISO 14224 helps greatly in the matter. It contains guidelines that a maintenance and reliability organization can use to define some sort of organized processes and procedures that are important to have in the facilities. When they have laid out a foundation that way, it gets easier to do all sorts of things.

In this episode, we covered:

  • What is Asset Hierarchy?
  • Why is the asset hierarchy needed?
  • How should an asset hierarchy be organized?
  • How to develop an asset hierarchy?
  • And much more!

Having a good asset hierarchy not only helps plan jobs and build job libraries, but it also helps cut down the maintenance cost of the assets in the long run. It also helps the management identify those macro-level issues that often get less attention because that s the way it has always been. You can really define strategies and implement a solution for handling macro-level issues in the systems. Over a period, you can also trend them. The hierarchy should use a breakdown approach so that everyone is involved in it.

The asset classes and all the system levels should be considered while building a hierarchy, and every facility in the organization should follow it in the same manner. Bad asset hierarchy results in a lot of problems while defining the issues and implementing solutions in a planned manner. You need to standardize everything so that you would be able to do whatever you want by planning, reporting, and improving. It should be so that everyone can write work orders easily and implement jobs just the way they were planned. The levels should be defined in such a way that every system, subsystem, component, and subcomponent is a part of those levels.

Even if you don t get it right the first time, you just need to learn with time. The main thing is to admit that there is something wrong with your current procedures or asset hierarchy so that you can build a better or new hierarchy within the old one to switch things towards improvement. The system boundaries must be defined clearly so that the real asset priorities stay intact at all times. There can be some exceptions when you have some dedicated piece of equipment, but it should always be considered in a context solely for the benefit of the asset.

There should also be a key metrics system in place, and it should be designed by involving everyone that can provide insights towards addressing all the criticalities. There should be dedicated resources for building a hierarchy, and someone must be leasing the way for others so that no one loses the sight of their end goal here. The leader should be very detail oriented, and they should be able to handle things in a better way than everyone else. There should be some sort of discipline in place to follow the hierarchy, and it should be consistent throughout all the facilities.

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