Asset Hierarchy – EAM Priority Fix

Prerequisite for Analysis

As mentioned before, an asset hierarchy is a tool that is needed for criticality analysis. The hierarchy supports criticality analysis and APM (asset performance management) because criticality depends on the process and not just the asset. A criticality analysis rates assets based on how critical the asset is based on their likelihood of failure and the consequences of that failure to the business. It is used in scheduling preventative maintenance as you will need to prioritize maintaining the more important assets and the assets with a higher rate of failure.

Optimization and Efficiency

In addition to being a prerequisite for criticality analysis, an asset hierarchy also helps with optimization and efficiency. A standardized hierarchy with standardized equipment names and descriptions allows for quick navigation of your EAM/CMMS. If you are using NRX AssetHub, we offer a visual hierarchy – so it’s easier for you to visualize, review and edit the data within your EAM/CMMS. Accurate data goes a long way in terms of efficiency, as it minimizes lost production and facilitates communication between all parties involved.

Maximizing ROI

A good asset hierarchy yields high returns and a lower cost than other data cleanup projects, such as materials cleansing or a plant walk-down. First, a standardized and complete asset hierarchy will result in a much more usable EAM/CMMS that improves the reliability of your asset data. Increased reliability will result in less downtime – which decreases lost production, better worker productivity, and better reporting. As a result, you will finally see the expected ROI from your EAM/CMMS solutions, which is probably why you adopted it in the first place.

NRX AssetHub for Fixing Asset Hierarchies

When it comes to starting a capital project or a data cleanup project it is important to know what you want to accomplish and where the largest gaps are that need to be addressed. Regardless, starting with your asset hierarchy can be a good opening to getting your EAM/CMMS data right. NRX AssetHub is an add-on to your EAM/CMMS that specializes in cleaning and organizing asset data making it easier to visualize and review your asset hierarchy. If you’re interested or would like to learn more about our solution, feel free to book a demo or download one of our brochures using the links below.