This article is part of a series on “Transformational Asset Performance using Data Insights.” This series covers the value of gaining actionable insights from data to develop a maintenance strategy that aligns with your organization’s financial goals.

We are living in one of the most exciting times in human history – a period of unprecedented technological advancement in Artificial Intelligence, automation, and big data.

In maintenance and reliability, this means that organizations, their assets, and their workforce are the most connected they have ever been. Business leaders are able to use connected technology to gain real-time visibility into how assets are performing and how they are affecting business operations.

In a world of increasing data, how can organizations know what to prioritize when executing their maintenance strategy?

Using data insights to evaluate maintenance priorities

With the abundance of data and metrics, maintenance leaders can sometimes feel compelled to act on every number. This can lead to prioritizing the wrong maintenance tasks and overlooking the more critical activities.

In the process, they find that all their equipment data is really helpful for is adding more work.

This raises the question – how should data influence an organization’s maintenance priorities? The answer lies in analyzing the framework of an organization’s leadership and prioritization.

How should data influence an organization’s maintenance priorities?

Three key factors to consider in a maintenance strategy

  1. The business goals
  2. The assets which are most critical to meeting these goals
  3. The maintenance strategy that is most effective in protecting these assets

When an organization has these fundamental goals clear, leaders can set up the right maintenance strategy, the right priorities, and the right personnel to achieve an optimized maintenance strategy.

The result is a culture that feels empowered by data and understands how to make this information actionable to meet production and business goals.

Understanding business goals first

The goal of using a CMMS or EAM is to help asset-intensive businesses optimize their asset productivity and reliability to achieve their business goals.

Every organization and industry is unique. However, many share similar business goals.

Business goals commonly tied to maintenance strategies

  1. Reducing production interruptions
  2. Mitigating risk
  3. Reducing maintenance or energy consumption expenses
  4. Managing their Total Cost of Ownership (TCO)
  5. Prioritizing worker safety
  6. Ensuring regulation compliance

Typically, these goals are tied to a specific metric over a period of time. For example, “Reduce equipment downtime by 20% over 18 months”.

Analyzing equipment data within the framework of the business goals and matching these with the right maintenance strategy makes it clear to everyone which activities to prioritize and why these should be prioritized.

The right maintenance strategy makes it clear to everyone which activities to prioritize and why these should be prioritized.

Understanding this helps to define where your organization’s time, money, and resources should focus.

This converts data from a metric to a truly actionable insight.

The business case for a maintenance program

How can maintenance be a profit-center when budgets are continuously monitored and reduced?

Using relevant data allows businesses to know where to focus to achieve the business goals. This gives personnel the confidence to understand how each maintenance task directly saves or costs the company money.

Further, this knowledge makes it easier to create a business case for a maintenance program with measurable KPIs.

Perhaps it is time to evaluate the business case for your current maintenance strategy.

Questions to consider when evaluating your maintenance strategy

When is the last time we updated our maintenance data or checked whether it is accurate?

Are there recent rebuilds or upgrades within the plant? Have asset hierarchies changed?

Are my maintenance activities “tribal knowledge”? If we lose an employee, does the knowledge leave with them?

Are your maintenance tasks reacting to sensor data, leading to maintenance task backlogs and overwhelmed workers?

Are most maintenance tasks simply based on OEM recommendations without considering criticality or the business goals?

Are you struggling with setting up and meeting key performance indicators for your maintenance strategy to make the business case for department funds?

What if there was a blueprint for knowing which data to act on?

There is immense value in being confident that you are interpreting and prioritizing the right data. Having a connected business and workforce can truly be a competitive advantage.

MaxGrip’s Asset Improvement Program provides a realistic roadmap to an effective PM strategy with measurable results. It bridges the gaps between departments, setting priorities, creating insights, and working on shared goals.

Most importantly, it is a roadmap for future maintenance and reliability success within your organization.

Explore the Program

Summary of this article

  • Keep sight of the most critical and actionable data insights from your maintenance software
  • To do so, it is important to have an organization’s leadership prioritize strategies based on business goals
  • An organization’s maintenance decisions should focus on:
    • The business goals
    • The assets which are most critical to meeting these goals
    • The maintenance strategy that is most effective in protecting these assets
  • Understanding how data influences the broader picture helps to clearly define what is critical and what is not
  • If you are unsure of which data is most impactful to reaching your business goals, the Asset Improvement Program helps to understand this

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