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Maximizing the Value of Your Asset Management System: A Continuous Commitment

Authored by Timothy Taber | January 13, 2025

In the world of infrastructure and maintenance, an effective Asset Management Software System (AMSS) is a powerful tool to streamline operations, extend asset life, and reduce costs. But to unlock its full potential, you must treat your AMSS as a living, evolving resource that thrives with ongoing attention, discipline, and refinement. Like a fitness routine, its success depends on consistent effort, regular evaluation, and a clear strategy.

The Discipline of Data Maintenance

A reliable AMSS begins with accurate, up-to-date data. Your asset inventory, the backbone of your system, must reflect the current state of your assets. Key practices include:

  1. Routine Updates: Add new assets promptly, remove retired assets, and ensure all data entries are accurate.
  2. Complete Data: Include critical asset details like classification, model, serial number, replacement cost, and installation or construction year. Technical data, such as nameplate information, adds further value.
  3. Asset Hierarchies: Maintain parent-child relationships for effective tracking and analysis.

 

Neglecting data maintenance leads to outdated records, frustrated users, and decreased confidence in the system. Think of it as maintaining a fitness log, inaccurate or incomplete records do not help you achieve your goals.

Preventive Maintenance: A Dynamic Strategy

Preventive maintenance (PM) schedules are often set at the system’s implementation and then neglected. To truly maximize your AMSS, regularly audit and refine these schedules:

  • Right Work, Right Time: Adjust tasks and frequencies based on changing asset conditions and usage patterns.
  • Feedback Loops: Use work order data to evaluate PM effectiveness. Are tasks reducing reactive maintenance costs? Is there evidence indicating over-maintenance or under-maintenance?
  • Advanced Strategies: Move beyond calendar-based activities to more sophisticated strategies, such as consumption-based triggers (e.g., odometer or run hours) and eventually condition-based or predictive maintenance strategies.

Static PM schedules risk becoming irrelevant, much like an exercise routine that doesn’t evolve with your fitness level. Regular audits ensure you are working smarter, not harder.

Work Orders: Your System’s Pulse

Work orders (WOs) are the most transactional and abundant data points in an AMSS. Their value lies not only in tracking tasks but also in their ability to provide actionable insights. To harness this value:

  1. Data Integrity: Establish clear guidelines for required fields, such as asset ID, failure codes, labor hours, materials used, and most importantly, accurate costs. Consistency is critical.
  2. Streamlined Process: Design an efficient, end-to-end workflow for creating, processing, and closing work orders without overburdening staff.
  3. Meaningful Metrics: Ensure WO data supports key performance indicators (KPIs) such as mean time between failures (MTBF), maintenance backlog, and cost per repair. If these insights are missing, adjust your processes to fill the gaps.

Well-managed WOs transform your AMSS into a strategic tool, supporting both frontline maintenance staff and management decision-making. Without actionable insights, data is just noise—like tracking workouts without analyzing your progress.

A Routine of Continuous Improvement

Maximizing your AMSS requires ongoing commitment. Incorporate these best practices:

  • Regular Training: Equip staff to use the system effectively, from data entry to interpreting reports.
  • Scheduled Reviews: Dedicate time, quarterly or annually, to evaluate system performance, data quality, and alignment with organizational goals.
  • Feedback Mechanisms: Encourage input from technicians to management to identify pain points and opportunities for improvement.
  • Leverage Automation: Use automated workflows and alerts to reduce manual entry errors and ensure timely execution of tasks.

The Reward: Operational and Strategic Excellence

A well-maintained AMSS benefits the entire organization. For leadership, it provides reliable data for strategic planning and budgeting. For maintenance teams, it simplifies day-to-day operations and ensures efforts are targeted effectively. The result? A proactive, efficient organization, achieving optimal performance from its assets.

At Barton & Loguidice, our Asset Management team is passionate about helping clients maximize value from their software systems. We focus on these systems providing meaningful insights, enabling data-driven decisions, and ensuring long-term success. By treating your AMSS as a dynamic and evolving tool, giving it the attention it deserves, you can achieve operational excellence and sustainable growth. Please contact Asset Management Vice President, Tim Taber, with any questions or for further information.