Benefits of Aligning Asset Hierarchy With ISO 14224

Before an EAM migration, cleansing all of your data is key for numerous reasons. To optimize your data before loading it into a new system, you have to make sure to optimize your asset hierarchies as well. The best way to do this is to align your asset hierarchy with international industry standards. For the oil and gas and most process industries, ISO 14224 is the standard that we recommend. Adopting ISO 14224 as the standard for your asset hierarchy can provide many benefits for your company’s maintenance and operations.

Consistent RM Data

A new EAM system prepared with ISO 14224 will help improve the reliability performance of a company. This is because KPIs for RM data will be viewed consistently, and your asset data will adhere to the same rules. Having consistency within your RM data, including equipment, maintenance, and failure data, can improve the quality of your data, make it easier to comply with regulations, and improve communication among relevant parties such as workers, manufacturers, contractors (etc.).

Identify Failures

The ISO 14224 standard is excellent for identifying failures and being able to keep track of them consistently. For one, it can help to characterize failures and identify whether they are mechanical or material. Further, it can help to rate the severity of the failure and whether the failure is of high, medium, or low priority. It can also identify the failure data, cause of failure, failure mode, and other important information that will ultimately help operations.

Clearer Communication

Having consistent standards across multiple facilities within a company is beneficial for effective communication. In the case of failures, if one facility classifies an equipment failure as less severe and of low priority while another classifies it as moderately severe and of medium priority, it can confuse everyone involved. To be able to communicate problems and make decisions across facilities, standardization is necessary.

An EAM migration is the perfect opportunity to standardize your EAM system. Using NRX AssetHub, you can easily align your asset hierarchy with ISO 14224 and identify any equipment that doesn’t comply with these standards. Our platform also makes it easier to classify assets using ISO 14224 classes and characteristics. To learn more about how we can help you implement ISO 14224 in your new EAM system, contact us to book a demo or download our brochure.