An asset management operating model is a framework of organizational, business process and data standards that an organization establishes in order to effectively and efficiently manage its assets.
Asset management is a complex system for delivering value, it’s not just about Maintenance! Asset management is a team sport with many participants. A detailed operating model breaks this system into functions, showing what each player is responsible for and how each participant works with the other to minimize costs and maximize asset availability.
A sufficient operating model defines the who, what, when, where, why and how behind the organization’s people, practices and data. It brings clarity to the organization’s asset management practices. For example, download this practice on the building of a weekly maintenance schedule. There’s no EAM technology here, it’s all about the core practice, business rules and who is executing it.
The establishment and improvement of an asset management operating model — is exactly what industry standards recommend for increasing profit and reducing risk in asset-intensive organizations. In fact, the two most prominent international standards for asset management—ISO 55000 and PAS 55—both emphasize the importance of establishing an asset management operating model!
An asset management operating model can help an organization in many ways:
- Provides a tangible reference for how the organization manages its assets
- Helps to standardize asset management activities. Gets everyone on the bus. 😊
- Supplies guidance for the setup and configuration of the EAM software system
- Improves EAM software data quality and reporting outputs
- Presents an educational and training resource
- Enhances functional coordination (e.g., maintenance and MRO supply chain)
- Brings form and structure to the way in which the organization’s physical assets are managed
An asset management operating model is EAM software indifferent. It does not care what software system is in use. An operating model can be implemented with the help of software, but it is not dependent on it. As a matter of fact, it is sometimes better to leave software out of it, at least initially, until the practices are adopted. An operating model can stand on its own.
Need help developing or improving your asset management operating model?
Check out our web-based Synergy™ platform.
Synergy is an enterprise-level, web-based asset management operating model. Consisting of over 300 practices, digital assets, data libraries and coding structures, Synergy brings consistency, continuity and improved coordination to multi-function asset management operations.
Download our Synergy Asset Management Operating Model™ Framework. See how our model can help improve yours.