Search Results for: Change Management

124 – Building a Maintenance Management Program with Brandon Weil

Building a Maintenance Management Program with Brandon Weil

When you think of an asset management program, what comes into your mind? Is it the CMMS? Is it the EAM? Or is it any other tool that helps you keep track of your assets and allows you to manage them? While CMMS and EAM help a lot in managing organizational assets efficiently but a comprehensive asset management program is much more than just computer software. It consists of all those other systems, procedures, and processes that support your CMMS or any other system you might have in place. You might not need a detailed asset management program if you have small-scale business.
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by James Kovacevic 1 Comment

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. [Read more…]

by James Kovacevic Leave a Comment

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. [Read more…]

by Greg Hutchins 2 Comments

The Future of Enterprise Risk Management in the 2020’s

Guest Post by Greg Caroll (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

The 2009 release of ISO 31000 was the first step across the threshold into 21^st century risk management. Unfortunately the industry that has developed around it has firmly grabbed the doorway and won’t let go. Although the latest revisions make references to decision making and integration into functional purpose, it totally misses the point of risk management, which is to assist navigating a complex world. [Read more…]

by James Kovacevic Leave a Comment

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? [Read more…]

by James Kovacevic Leave a Comment

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. [Read more…]

by James Kovacevic Leave a Comment

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. [Read more…]

by James Kovacevic Leave a Comment

119 – What Customers Need is an Asset Management Program, Not Software with John Reeve

What Customers Need is an Asset Management Program, Not Software with John Reeve

When organizations feel the need to run their sites in a better and informed way, they tend to purchase different software that will help them get the answers they need. What they don’t realize is that software is only as good as the people using it. When you don’t have data input to the system, the output is most likely to be inaccurate. You can purchase a CMMS or any other reliability software but if you don’t know what it is that you want from the software, it is no good to anyone.
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by James Kovacevic Leave a Comment

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. [Read more…]

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by James Kovacevic Leave a Comment

113 – Asset Management with David Albrice

Asset Management with David Albrice

When there is unplanned downtime and repeating failures in the plant, that means you are not managing your assets in the right way. Asset management can be used to enhance the value of a piece of equipment. So what is asset management? It is simply a process to make sure you get the value that you want from your machines. The idea is not just to get value in terms of money. It is about making sure that your equipment is in the optimum conditions and is running when you really need it to. This is something you can’t do without asset management.
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by Fred Schenkelberg 1 Comment

Continuous Improvement of the Risk Management Framework

Systems and processes exist in our dynamic world. Each organization and situation is different. Just as there is not one risk management process that works for any organization, there also is the need for continuous improvement of an existing system.

When first designing a risk management process for your organization, you consider your objectives and adjust a framework to fit your needs. Over time your objectives and the surrounding environment changes, thus requiring a critical look at your process. [Read more…]

by Fred Schenkelberg Leave a Comment

The Detail Necessary in a Risk Management Plan

A risk management plan has to meet your organizations needs as the organization identifies, manages, and mitigates potential and actual risks. The ISO 31000 framework does not detail how an organization should plan or what elements are required for an effective plan.

This short article outlines a few details that may comprise a starting point as you build a risk management plan within your organization. Or, the suggestions here may help you review and improve your existing plan. [Read more…]

by Doug Plucknette Leave a Comment

The 6 Things Every Asset Management Strategy Needs to Be Successful

I want my customers to be successful, every one of them. Yet there are times I can see the writing on the wall and I know as hard as I might try to show them a clear path to what it takes to be successful they have their own plan. Some of them are so complex that people become confused just trying to make sense of them, and others get so hung up in the minutiae of even the simplest of steps like listing a 3 part failure mode they will word-smith themselves to a point where folks just give up. I find myself asking “why do people have to make what is really so simple into something that appears to be complex?” [Read more…]

by Greg Hutchins 1 Comment

Mathematical Models, Algorithms, and Risk Management Methodologies

Guest Post by Geary Sikich (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Introduction

We are enamored by risk models, mathematic algorithms, equations and formulae. As a matter of fact, we have become so enamored by complex mathematical algorithms, formulas, models and derivatives that we have abdicated much of the analysis of risk, to these complex formulas and quantitative analysis methodologies touted by firms far and wide. Where has this gotten us? Are we better able to predict and measure risk exposures? Are we managing risk more effectively? [Read more…]

by Greg Hutchins 1 Comment

Exploiting New Challenges in Enterprise Risk Management

Heightened Awareness or Reactive, Backwards Looking?

Guest Post by Geary Sikich (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

From financial crises to energy catastrophes to earthquakes and threats of terrorism, we hear a lot about events that challenge our ability to identify and manage risk. Unfortunately, some of the things that emerge from many of these events are reactive regulatory rules and requirements. [Read more…]