The maturity model of asset performance management

The asset performance management maturity model provides a framework that can help organizations establish a basis for benchmarking where they are today against similar industries and identify areas that could benefit from improvements. It prioritizes continuous process improvement for the optimization of workforce, processes and technologies to support GAE. The Evergreen Wealth Formula 2.0 review is important there.

What Do the Studies Show?

Several studies show that a large percentage of organizations are found at the bottom of the maturity model scale. Their maintenance strategy consists mainly of taking reactive actions in the event of a breakdown, interspersed with preventive maintenance when time permits.

  • This may be due to the fact that many organizations primarily viewed asset management as a mandatory task or, at times, imposed on them by health and safety regulations. It was a task that managers saw as thankless, and in some cases overlooked. Considering that the average age of a maintenance worker puts them very close to retirement and that there is potentially no succession plan, a red flag should be heard for these organizations view asset management strategically.
  • On a positive note, the fact that most organizations are at the bottom of the maturity continuum can be viewed as meaning that asset management offers significant potential for improvement and performance for many businesses. Even the smallest advance in the practice of asset management can have a major impact. And now, thanks to the Internet of Things (IoT) which makes it possible to create more assets within companies and to collect more data from existing assets, it is not surprising that the GAE now occupies a prominent place.

A transformational approach

The question remains: how to get started? We believe the best way to do this is to take a well-paced transformational approach. First, you’ll need to determine where you want to end up on the continuum, and then assess your current situation by reviewing:

Your operational asset management processes

Your organizational structure and your technological tools.This assessment will help you identify the main areas that may be preventing you from achieving your goals and will help strengthen the baseline and starting point. It will also be the basis of a continuous improvement plan. You will be able to determine your goals and establish where you are in achieving those goals. You’ll also be able to identify quick wins and low-risk improvement opportunities to maintain momentum and motivate troops to move forward at a single pace. In addition, the assessment will help identify areas that could benefit from leveraging their technology to better support the asset management process.

Are you making optimal use of technologies such as asset management systems, work, SCADA, mobility tools and report writing? Ultimately, you will have a framework to help you systematically evolve your organization along the maturity model continuum.

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