Asset Archives - HP Reliability, an Eruditio LLC company.

How to Setup An Asset Hierarchy

Ensuring the Failure Data Collected Can Be Used To Drive Improvements In Any Organization

ISO 14224 – Equipment Taxonomy

If you were to go into your CMMS and look at the hierarchy and equipment, would it be well laid out and organized? Would you be able to drill down the to the lowest level of components to know what failures have occurred? Can you see how pumps are performing across a specific area or the entire plant? The chances are that for many organizations, this is not possible. Why is that? The asset […]

By James Kovacevic|2019-04-19T15:49:40-04:00April 3rd, 2017|Asset Identificiation, CMMS, Defect Elimination, Equipment Strategy, FRACAS, Reliability Engineering|Comments Off

The 39 Subjects of Asset Management

Understanding the different functions and disciplines of asset management

The Global Forum on Maintenance and Asset Management (GFMAM) has worked with the major bodies (SMRP, PEMAC, IAM, etc.) to achieve a consensus on the major subjects within asset management.

These subjects are intended to describe the complete scope of topics within asset management. You can download the GFMAM guide for free here. It is important that anyone who wishes to understand asset management has an understanding of each of these topics, and hopefully some experience in each.

However, it is not expected everyone […]

By James Kovacevic|2019-04-19T15:49:58-04:00September 12th, 2016|Asset Management|Comments Off

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