An Asset Management Maturity model is used to describe where a company exists in relation to the top performing enterprises. The asset management maturity model has evolved over the years as technology has advanced. It used to be Reactive, Preventive, Condition based, and Predictive. But the boundaries between Enterprise Asset Management and Asset Performance Management are overlapping and Risk based, Prescriptive and Cognitive are being added to the latest maturity models. The basic premise is about understanding strategy, people, process and technology – NOT just technology alone.
Those starting out on their journey towards operational excellence view EAM as a cost, and maintenance as a cost center, whereas more mature organizations view EAM as a service center, and operational excellence is driven through close collaboration between operations, maintenance and engineering, something which is common for Nuclear Power Plants, but less common in other industries. As organizations mature, maintenance then shifts from being viewed as a necessary expense through to an investment which creates business value.
As you look at the model, or move from the bottom left to top right, overall maintenance costs can be reduced but the value to the organization as a whole increases as assets become more reliable, downtime is reduced and asset performance is increased. The move up the Asset Management Maturity model is enabled as assets become more instrumented and interconnected through IoT based platforms like IBM Watson IoT Platform. This rise in available data “big data” is of no use unless you intelligently make sense of it through analytics and optimization. But analytics and optimization can be performed on existing data if data quality is sound, you needn’t instrument the assets first.
The Asset Management Maturity Model displayed here has five levels, your starting off point may not be at the beginning. Remember though that moving through to successive levels in the maturity model will take time and effort and a commitment from all stakeholders. Additionally, not all assets are the same, for some it will be quite acceptable to replace them when they have broken, for others we might listen to the assets for audible or inaudible changes in order to predict future failure. You cannot move direct to Advanced level without moving through the other stages and deciding what asset strategy is applicable, asset by asset.