Asset Criticality Ranking: An EAM Best Practice Overview

The philosophy of improving the performance of critical assets is common knowledge when it comes to asset management. However, many organizations fail to fully understand the methodology behind formally ranking an asset as critical. It is very easy to deem the assets that are causing the most problems over a window of recent performance as critical as we often operate in a "what have you done for me lately" mentality.

Through proper development of an Asset Criticality Ranking model, Reliability Engineering concepts can be applied to determine at what level each asset should be managed based on criticality. This is why Asset Criticality Ranking is a key component to achieving Enterprise Asset Management as it is the primary mechanism needed to prioritize improvement activities when time and resource availability are often limited.

This prioritization should be applied to Continuous Improvement efforts such as PM Optimization and Capital Investments as well as to the daily management of the CMMS Workflow Process to set priority for Planning and Scheduling.

Presenter

Quinton GoForth

Quinton GoForth is the Manager of Reliability Services for GenesisSolutions, specializing in EAM System and Reliability Improvement projects. Prior to joining the Genesis team, Quinton spent the majority of his career with GAF Materials where he performed multiple operations and maintenance roles within the organization allowing him to gain a true understanding of how to incorporate reliability and operational excellence at each level as well as the importance of aligning the CMMS and other data tracking platforms with these efforts. He was responsible for the development and implementation of Reliability Centered Maintenance systems in multiple facilities. Since joining Genesis, he has assisted several BioPharma companies in identifying areas of opportunity and developing master plans for improvement in their maintenance and asset management operations. Quinton completed his B.S. in Mechanical Engineering from Michigan State University, is a Certified Maintenance and Reliability Professional (CMRP), and a Six Sigma Black Belt through Villanova University.