Advanced Asset Management Article 2 – How to Self-Assess your Asset Management Progress and Develop an Effective Roadmap

How to Self-Assess your Asset Management Progress and Develop an Effective Roadmap

Scott StukelScott Stukel, CMRP

Asset Management, Reliability, Maximo, Strategy, ISO 55000, EAM/CMMS, Executive Coaching

I work with many organizations with great maintenance programs who feel they are ready to expand into the “World Class” Asset Management realm but struggle with defining where exactly they are, where they want to go, and how to get there. Some have developed solid high level strategies and possess necessary leadership commitment to move forward, however they struggle with making the rubber meet the road. Other groups may have stellar reliability and condition based maintenance capabilities yet fail to connect maintenance, reliability, and the business goals.

time to evaluate

There are a myriad of accepted standards for asset management from credible organizations such as ISO, IIMM, SMRP, AWWA, API, SAE, IEEE that all basically recommend the same thing, just in various ways. In working across the board with major industries and government, I have found that the key ingredients called by those standards may be summarized in 25 elements of Asset Management. These components fall into four primary focus areas, encompassing everything necessary for you to achieve best of class asset management. They are detailed below.

Asset Management Self Assessment

If this makes sense to you and you are ready to move to the next step to define your current and future state for asset management, you can use this simple self-assessment methodology as a quick way to get a visual for you to start. It doesn’t take a lot of time to accomplish. You can distribute an easy to follow excel spreadsheet to targeted folks in your organization which they will rate, on a 0-5 scale, both where they see your business today and where they feel it should be to achieve the best practice for you. From there you will be able to combine, normalize, and summarize the results and get an aggregation for you to work with to develop your roadmap.

Contact TRM if you are interested in a self-assessment of your Asset Management Practices!  marketing@trmnet.com