So lets get started with answering the question “What is Enterprise Asset Management?”

There are many types of physical assets both fixed, for example plant or process equipment, and buildings, or mobile assets, for example, vehicles like trucks and vans, mobile cranes or medical devices. Enterprises will find they have multiple physical asset types and in multiple locations around the world. Hence, Enterprise Asset Management, is the management of all of these physical asset types of an enterprise, no matter where they are.

The physical asset types within one enterprise can be very different and so the management of those assets can also differ across the enterprise. For example, the management of infrastructure assets in electric transmission or distribution, is quite different from the management of assets in a nuclear power plant or a wind farm that generates the electricity. 

Physical assets exist in every industry imaginable. The management of assets in a manufacturing plant is very different from those in a cement plant. Asset management in pharmaceutical companies, utility companies, facility management companies, airports, train operators or train infrastructure companies have some similar foundational needs, like work management and the need to handle inventory parts for asset repairs etc, but those needs can be quite diverse. Nuclear power has regulatory needs and also operational requirements to satisfy in addition to those for maintenance.

Maximo is used by clients in every industry with physical assets and has a range of functionality that you will find out about. In all of these industries there are some value drivers that a client is wishing to gain from its asset management system, like reducing unplanned downtime, maximizing resource usage, or reducing inventory costs. Some Maximo clients will be looking to comply with asset management standards, for example PAS55 or the ISO 55000 standard.