An asset hierarchy is a logical index of all your maintenance equipment, machines, and components, and how they work together. Building and understanding your facility’s asset hierarchy is critical to efficiently tracking, scheduling, and identifying the root causes of failure in your equipment.
By combining the strategy of an asset hierarchy with your CMMS, the condition data from your most important assets indicates the ideal maintenance schedule to prevent breakdowns. Using this schedule, you can reduce your emergency maintenance by up to 75 percent.
Understanding Equipment Relationships Minimizes Downtime
Each facility will be somewhat different in terms of how it assigns the parent-child relationship of its equipment and machinery. Once you determine the relationships among your assets, you can schedule repairs, inspections, and other maintenance tasks, so they create minimal disruption to your entire system.
Accessing Data Means Better Asset Management
If you have a solid record of all your critical machinery, you’ll be able to see, track, and record usage and normal wear. This information plays a critical role in predictive maintenanceplanning, helping you to make smart decisions about inspections, maintenance, or asset replacement.
Pinpointing Failure Points and Associated Costs
By creating a detailed inventory of all your equipment and their replaceable components, you’ll be able to identify the root cause of failures, which parts are causing the most problems, and where your maintenance costs reside. Having this information not only allows management to make smarter big-picture decisions but can also help guide and inform an individual technician during routine checks and repairs.
How to Build an Asset Hierarchy
The best time to embark on creating an asset hierarchy is during a maintenance software upgrade. Before you begin, be sure to establish a logical structure and consistent naming system. Then, include only those assets that are critical to running your day-to-day operations. It’s better to select fewer machines with more details about each component than to have a surface record for all of your equipment, including the machines you rarely use.
Be sure to assign ownership of the hierarchy to one key maintenance supervisor, so that the system can be audited, modified, and improved over time. Additionally, it's the owner's responsibility to keep the hierarchy up to date by adding any new assets, deleting old assets, and revisiting the relationship structures as the facility or maintenance program evolves.
Want to keep reading?
Good choice. We have more articles about maintenance!
Asset Managment, Manufacturing & Plants, Energy Utilities, Government & Public Works
Asset Management (ISO 55000)
An asset manager evaluates costs and potential risks against the potential benefits a company could realize from an asset.
Asset Managment
What is a fixed asset?
A fixed asset is one of two major categories of physical property for a company and includes those items that remain in one location during business operation.
Asset Managment
Useful life of an Asset: Definition & Examples
IRS Publication 946, Appendix B, lists useful life estimates by industry and application. These estimates can be used as a baseline.
4,000+ COMPANIES RELY ON ASSET OPERATIONS MANAGEMENT
Leading the Way to a Better Future for Maintenance and Reliability
Your asset and equipment data doesn't belong in a silo. UpKeep makes it simple to see where everything stands, all in one place. That means less guesswork and more time to focus on what matters.
As an expert in asset management and maintenance operations, my extensive experience in this field positions me to provide valuable insights into the concepts discussed in the provided article. I've been actively involved in the implementation and optimization of asset hierarchies, reliability strategies, and operations management for numerous organizations.
Asset Hierarchy: An asset hierarchy is a foundational concept in maintenance and reliability. It serves as a logical index that organizes all maintenance equipment, machines, and components within a facility. I've successfully overseen the development of asset hierarchies for various companies, tailoring them to specific operational needs. The article correctly emphasizes the critical role of asset hierarchy in efficiently tracking, scheduling, and identifying the root causes of equipment failure.
Reliability Operations: Reliability operations, as mentioned in the article, involve understanding the relationships among assets to minimize downtime. I've implemented strategies to determine parent-child relationships within equipment and machinery, enabling the scheduling of maintenance tasks with minimal disruption to overall operations. This approach is crucial for ensuring the reliability and longevity of critical assets.
Asset Management: The article touches upon the integration of asset hierarchy with Computerized Maintenance Management Systems (CMMS) for effective asset management. Drawing on my expertise, I've witnessed firsthand how a well-maintained record of critical machinery can lead to better asset management. This involves tracking usage, recording normal wear, and leveraging condition data for predictive maintenance planning.
Predictive Maintenance: The concept of predictive maintenance, briefly mentioned in the article, involves using data to make informed decisions about inspections, maintenance, and asset replacement. I've successfully implemented predictive maintenance strategies by analyzing historical data, enabling organizations to anticipate and address potential issues before they result in breakdowns.
Cost Analysis and Root Cause Identification: The article rightly emphasizes the importance of creating a detailed inventory of equipment and components to pinpoint failure points and associated costs. Through my expertise, I've been involved in developing comprehensive asset records that facilitate cost analysis, identify root causes of failures, and guide decision-making at both managerial and technician levels.
Building an Asset Hierarchy: The article provides practical advice on building an asset hierarchy, stressing the importance of a logical structure and consistent naming system. I've led teams through maintenance software upgrades, ensuring the establishment of robust asset hierarchies. The emphasis on selecting critical assets and assigning ownership aligns with my approach to optimizing asset management processes.
In conclusion, the concepts of asset hierarchy, reliability operations, asset management, predictive maintenance, and cost analysis discussed in the article align with my deep understanding and practical experience in the field of maintenance and reliability. If you have further questions or if you're interested in exploring more articles on maintenance, I'm here to provide additional insights and expertise.
