Maintenance & Reliability in Asset Management

Chair

Felicia Tristanto

Pool Closed

There is often tension between various stakeholders when it comes to the cost of maintenance of physical assets. Leadership within most organisations seeks a return on investment, and many times, it can be difficult to grasp the juggle between the cost of maintaining assets and the bottom line. There can be issues between the maintenance and operations departments, often with the two working in silos and an unhealthy level of confusion about each other’s specific tasks.

 

So, how then does a company move from looking at maintenance of assets as a cost, to maintenance of assets building value for the organisation? It starts with culture. It starts with leadership. It starts with conversation. And it starts with formal maintenance plans.

Any organisation that utilises a formal maintenance strategy indicates a deep appreciation of these points outlined above. A business that adopts a more systematic approach towards maintenance will naturally enjoy far greater cooperation between operation and maintenance departments than company implementing informal, or ad-hoc, maintenance of its assets. Typically, a formal strategy will also ensure that a company uses preventative maintenance and condition monitoring more than a business without a formal plan. A formal maintenance strategy will undoubtedly lead to positive results, with fewer unplanned maintenance occurrences and less asset down time, which organically flows to greater economic advantages for the business.

The culture of an organisation can only be changed when the leadership shows trust, collaboration and knowledge-sharing amongst employees. Make time to include all staff in asset maintenance and asset management plans; staff who are engaged and feel heard by leadership will positively contribute to plans for the business. The organisation that understands maintenance is a must, and an activity that actually preserves the function of the asset is on track to building value.

If your business is looking for new ways to build value from maintenance or to implement asset maintenance strategies, have a look at the Asset Management Council’s website. Or consider joining our Maintenance and Reliability in Asset Management Special Interest Group, where you can access great networking opportunities and events.

Visit Forum


Events

Projects