Blog on a poll asking: What do you think is the most important aspect of Asset Management?

A while back I posted a poll with a few possible options as answers to this question and in this blog I will publish the results and some thoughts as well on this.

Participation was 161 votes and the result was as shown in this picture here below:

Poll result on the question: What do you think is the most important aspect of Asset Management?

Poll result on the question: What do you think is the most important aspect of Asset Management?

The answers in other (10.65%) were as follows:

  1. open sharing of knowledge
  2. Workforce awareness and education
  3. Understanding Risk & Consequence
  4. All of the above
  5. Asset Management Initiation
  6. Understanding the asset
  7. asset management results
  8. Reliability
  9. there is no most important. Most of the items above are essential
  10. All of the above
  11. Effective Change Management
  12. asset management outcomes
  13. people
  14. They are all equally important
  15. Value adding proces
  16. Risk Analysis
  17. Good Communication with all involved!!!!!

There were also some comments made on the poll’s web site as follows:

  • I voted for the continuous improvement approach. The meaning of that approach, however, should include ongoing communication with major equipment suppliers to assure that the bill of material for the equipment is up to date. All other planning will fall short if replacement parts are not available to support maintenance and reliability efforts.
  • My point is that if any organisation expects improvement in EAM area (I assume, if no improvement is expected all that poll makes no sense) it should concentrate on assessment of the present state of Asset Management. That means analysis of business KPIs and getting to some conclusion. The feedback – whatever it is – means some decisions which will be executed with EAM Business Processes. Very few organisations use EAM Balanced Scorecards, so the relevant decisions may depend on personal criteria of the managers. Whatever decisions are taken their implementation will affect business processes, so I reckon, Asset Management Processes are always involved, so that item of the poll should be regarded as the most influencing. However, a holistic approach seems to be obvious, but one should remember that some companies have developed EAM strategies and plans only in documents for stakeholders, if they have had any…
  • I don’t see a lot of difference between some of the categories. Some could well be a component of another.
  • All companies have headline business policies irrespective of whether they are explicit or not, though clearly a well defined policy will be better communicated, however, I believe that at the heart of the asset management process is the strategy. A clear map of where we are – where we are going and how we will get there! A cyclic process of continual review and course adjustment whilst in operation will complete the process. Thus without a well defined strategic core, asset management initiatives will fail.

There was one extra comment made directly under the poll at this blog site: https://bjarniis.wordpress.com/2013/10/27/would-you-like-to-answer-this-quick-poll-please

  • I have been acting long time maybe too long as a management consultant and still I can see alot of unefficiency on a shop floor lever. Examples of these areas are e.g. maintenance planning, multiskilled people, bad collaboration between production, production planning, sales and maintenance.                                         I agree with the opinion a maintenence strategy is mandatory, but in this changing world sometimes the business strategy/goals of a company can be a bit “fuzzy” too and then subgoals/strategies can be even more difficult to give or get.          So, quite practical approach can give sometimes a faster and higher ROI>>>Fix things you can and leave the rest!

Above you have now seen all the raw data from the poll and comment´s made to date. I would like to leave the interpretation mostly to you, my dear reader, as I know the people who read this blog are quite intelligent people working in the great field of Asset Management.

As we can soon see in the emerging ISO5500x series of standards Asset Management is a very iterative management system and as with most systems as soon as one element of the management system is taken out the whole system will not be as effective in delivering the results that are desired.

I can say that the results overall do not surprise me for one and I would like to encourage you all to comment and discuss the results in the comments section here below.

“Logic will get you from A to B. Imagination will take you everywhere.” – Albert Einstein

Tunnel VisionSome might wonder why my blog this time has a header with a quote from Albert Einstein. The reason is that lately I have been extremely busy and a lot of pressure put from many sources, this is just the normal environment of a Maintenance & Reliability professional.

However it is important to not forget to take a step back from the logic of our existence where we solve problems, implement better practices and processes, etc. in a logical way every day. These logical functions that we deliver makes us have a bit of a tunnel vision, like the horse that is pulling the wagon with the blinds on so he does not get distracted.

Stepping back and Imagining where we could go, what we could do better, how we can deliver better results, what we can learn from anything and use it in our Reliability & Maintenance practices. Only focusing on the problems we are in without looking around for opportunities can make us miss some extremely great opportunities.

Only focusing on the problem of being stuck in the snow far from everybody in the middle of the mountain

Could make us miss the opportunities that are all around us, the beautiful views, the nature... and of course the people around that could help out 🙂

So in the heat of the game of finding the very best Reliability & Maintenance practices don’t forget to take a step back, relax and imagine… because Imagination will take you everywhere.

Another good quote from Albert Einstein is : “Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning.

But more on that later, I hope you have a great Imaginative rest of the weekend and don’t forget to comment 🙂

Warm regards, Bjarni Ellert Ísleifsson, CMRP