Asset and maintenance managers are increasingly required to report on performance against Key Performance Indicators (KPIs) such as asset utilization, risk and return on assets (ROA). These metrics are critical to understanding the overall health of an asset-intensive organization, and rely on a current and accurate view of all underlying asset information. These KPIs can be more simply stated as five questions you need to answer about your assets:
- Do you know what assets you have?
- What is your risk of an asset-related disaster?
- Do you know the current condition of your critical assets?
- What are the costs of corrective versus preventative maintenance?
- Should you should repair assets or replace them?