Importance of KPI in Asset Management

What is KPI – Key Performance Indicator? A select number of key measures that enable performance to be monitored against targets. Purpose of KPIs The KPI will indicate how well the facility or an asset is doing at attaining its goals, design intent or standards. KPIs help establish quality standards by reporting on variances. Why are KPIs Important? There are many reasons, of

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Establishing a Predictive Maintenance Software

Predictive maintenance software Predictive maintenance software is a method that uses for data analysis to locate irregularities in the system and potential device and process faults so that you can repair them before they fail. Ideally, predictive maintenance software enables the maintenance level to be as minimal as possible to reduce unplanned corrective maintenance without

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What is Asset Lifecycle Management – Facility Management

Asset Lifecycle Management? Asset Lifecycle Management (ALM) is the mechanism during the lifecycle to maximize the value created from the properties. Comprehensive management of the asset pool, systematic implementation of programs, and reliable and effective asset management activities help to achieve the desired performance. Best Practices of asset lifecycle Administration: Total Inventory Recognition Businesses tend

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How to Decide Whether to Replace or Repair your Asset?

How to Replace or Repair your Asset Everything from your productivity to your bottom line is interrupted as machinery breaks down. A simple and successful solution is needed by your team. The difficult question arises: do you attempt to restore the asset, or rebuild it completely?   The greater investment is the maintenance of equipment, because

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What are preventive maintenance procedures?

What are Preventive Maintenance Procedures Preventive maintenance is an activity intended to prevent failures or discover them. This implies that facilities must be inspected on a periodic basis in order to determine their conditions and if any maintenance actions are required to preserve their lives or return them to operational conditions. Two main elements of

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