Hanson Associates
Asset & Maintenance Management Solutions

Effective Asset & Maintenance Practices

Asset management is an strategic, organization-wide effort that achieves an appropriate balance of risk, cost, performance and life cycle to maximize asset value to the organization. 

Maintenance is a set of policies, procedures and practices that ensure assets meet the organization's performance, safety and regulatory requirements at the lowest cumulative cost until replacement becomes a more economical alternative.

Effective Practices Checklist

1)      Management Expectations

A written policy and practices statement 

Procedures documented and incorporated into training program

KPI identified, monitored and used to improve performance

A CMMS/EAMS is the primary maintenance planning and monitoring tool

2)      Assets

Life cycle plans based on cost, criticality and performance

Replacement decisions based on furture costs

Complete, accurate asset inventory in hierarchical stucture

Assets identified with bar code/RFID

Routine condition monitoring and inspection used for maintenance scheduling

Asset operational status available in real time

Failure analysis results used to improve performance

Complete cost history captured and used in replacement/rehabilitation decisions

3)      Work Orders

Asset are primary work order objects

Work is planned and scheduled for each crew weekly

All parts, tools and contract service planned

Technicians report all labor and costs on each work order

Technicians report fault-cause-solution on all corrective work

4)      Predictive & Preventive Maintenance

Assets selected on cost, criticality and operational effectiveness basis

PdM & PM have a high priority and interrupted only for emergencies

All PM plans contain detailed job or task plans

PdM/PM program results are reviewed routinely

5)      Engineering Support

Conduct PM program review and recommend improvements

Design improvements to reduce operating costs or eliminate “nuisance” faults

Review fault patterns to improve procedures or design

Determine causes and remedies for failures resulting in injury, regulatory violations or process interruptions

6)      Inventory and Warehouse

Warehouse is a "force multiplier" for maintenance

Preprepared parts kits for planned work

All parts issued to work orders or to equipment

Parts automatically linked to equipment

Just in time ordering and delivery through effective vendor relationships

Stock levels at minimum while preventing work delay due to stock outs

Asset spares handling through warehouse

Control, counts and security

7)      Contract Services

Investigate contracting opportunities to reduce cost or improve outcomes

Use outcome based contract specifications

Contract costs applied to assets

Routine inspection and outcome based measurement

8)      Reporting, Analysis and Continuous Improvement

Formal managerment reviews annually

Key performance indicators for each level of organization

Reporting results used for continuous improvement

Dashboards for KPI at each employee level