Asset Data Configuration – A Journey from Concept to Value Extraction (Part 1: Structuring an Asset Register)

An asset register that is structured correctly and inserted to a Computerized Maintenance Management System (CMMS) provides the basis for an effective asset data solution. The dearth of properly structured asset registers within companies is recognized among research and maintenance practitioners. It is true that standards such as ISO 14224 supply overall solution elements, however, such provisions are not all-inclusive and are housed in several locations. The ability of a company to prioritize work orders is an essential part of managing work and is vital when it comes to delivering maintenance services. An approach is provided in this article to structuring an asset register and determining asset criticality within a Facilities department which recognizes the importance of each site in relation to the overall mission of the estate. The final step uses asset criticality, work urgency and a time factor to address work order prioritization. The asset data lifecycle model in Figure 1, is presented to illustrate the context of this article.