ISO55000 Archives - HP Reliability, an Eruditio LLC company.

Learning about Asset Management

My personal insights on Asset Management

NOTE: This post will be a little different from my normal posts. Instead of discussing a specific topic, I will be covering my journey in understanding Asset Management and some key takeaways from the journey.

My Journey in Asset Management

I first heard about asset management when I came across PAS55, a Public Available Standard from the UK. I was trying to find some information on a cross-functional maintenance program. As I briefly read about it, I was intrigued and started to read about more asset management. It was exactly […]

By James Kovacevic|2019-04-19T15:49:57-04:00September 26th, 2016|Asset Management|Comments Off

Assessing Your Asset Management System

What You Must Know About Assessing Your Asset Management System

Often times organizations what to determine where they in their journey of asset management. This usually takes place in the form of benchmarking or assessing their asset management system against the standard. Before progressing any further, it is important to understand the difference between an assessment and an audit;

Assessment is defined as a systematic process of collecting and analyzing data to determine the current, historical, or projected status of an organization or system.
Audit is defined as an inspection and examination […]

By James Kovacevic|2019-04-19T15:49:57-04:00September 19th, 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

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