Technical expertise will only get you so far on your journey to asset optimization. For an organization to succeed in enterprise asset management (EAM), it must have leaders that demonstrate knowledge in the three disciplines of safety, reliability, and maintenance. They must also understand how integrating these disciplines is the key to improving operational performance.
If you’re an organizational leader that needs to expand or refresh your knowledge in asset management, you’ll find the white paper on 9 Laws of Enterprise Asset Management valuable in building the foundation needed to maintain safe and reliable operations. Preview the laws of enterprise asset management below and dive into the first law: protect people, to start your journey towards asset optimization.
Download the white paper on the 9 Laws of Enterprise Asset Management to learn why each is critical to improve operational performance.
The Laws of Enterprise Asset Management At-a-Glance
Following these nine laws unlocks a high potential for asset optimization. Leaders that understand these principles and practice them at their organization can see significant returns that reduce downtime, increase productivity, and improve safety.
1. Protect People
2. Know the True Goal
3. Obsess Over the Basics
4. Embrace the Technology
5. Focus on Returns, Not Costs
6. Optimize the Critical Path
7. Foresee the Catastrophe
8. Ensure Reliability or Redundancy
9. Calculate Coldly
View the infographic for a summary of each law.
Diving into the First Law: Protect People
As seen in his series of I, Robot books, science fiction writer Isaac Asimov promulgated three laws of robotics. The first law states, “A robot may not injure a human being or, through inaction, allow a human being to come to harm.” Asimov’s first law is a worthy guide for the first law of enterprise asset management: protect people.
EAM is designed to make life better for people – to reliably produce and deliver higher-quality products at lower prices and thereby improve people’s standard of living. That mission is abrogated if, in the process, we hurt people. Protecting people means not just looking out for the immediate health and safety of employees working around the assets, but also those who live nearby or downstream from a facility and the environment on which we all depend.
There are situations where the optimal strategy includes “run to failure” or RTF. Most people treat the lightbulbs in their house this way, replacing them only after they go out and have no useful life remaining. In a production facility, all other things being equal, run to failure can be more efficient if shutting down a line for maintenance creates the same downtime costs as failure without a compensating increase in service life. And every component carries some probability of failure during its service life, either early on if it has undetected defects or later in the cycle as it ages and accumulates wear.
These are risks inherent to the production process. However, certain breakdowns have the potential to injure or kill workers or people in the area surrounding a facility. Others simply violate regulations or the law and subject the company to fines, lawsuits, and damage to its reputation.
Regardless of the work activity or task, protecting people should always be the priority. No matter how much a work task or activity can promise to improve uptime, efficiency, and profitability, it will always be overridden if following it creates a meaningful risk of injury or illness to the people in or around the area.
Get the Guide to Better Asset Management
While it is certainly the most important, the first law of enterprise asset management is just one of the core principles that need to be understood and practiced in order to improve operational and safety performance. Download the full white paper on the 9 Laws of Enterprise Asset Management to learn how to effectively manage assets using the core principles outlined in the guide.
Get better performance outcomes when you learn the principles of asset management.