Is Your Asset Register Incomplete?

Asset-intensive companies depend on their asset data and the completeness of their asset register to maintain the efficiency of their company’s operations. Before performing an EAM migration is the perfect time to verify that your asset register is complete. This ensures that the asset register in your new EAM system is accurate and reliable so that you can get the most out of it. If you do not ensure your asset register is complete, you could experience outages, downtime, and decreased wrench time, resulting in reduced revenue for your company.

To ensure your asset register is complete, verify that all assets are included in your asset register, and your asset register does not have any assets that do not belong such as assets that do not represent maintainable items. There are several efficient ways you can verify that your asset register is complete.

Review Drawings 

One of the easiest and most efficient ways to ensure your asset register is complete is to review the P&IDs and other engineering and design drawings for your facilities. This works very well for new facilities and when the drawings are more or less up to date. By marking up the drawings you can identify assets that are accurately identified in your asset register, missing from your asset register, incorrect in your asset register or present in your EAM/CMMS but not identified on drawings. Resolving these anomalies is an efficient way to update your asset register to make sure it captures all the maintainable items in your facilities without any obsolete assets or non-maintainable items. 

Review Engineering Handover Materials 

When drawings are not up-to-date or do not capture all of the information needed for a complete asset register, reviewing the engineering handover materials that were delivered by your EPC or engineering projects team can be another efficient way to make sure your asset register is complete. The handover information usually contains details like manufacturer, model and serial number that are critical to have in your asset register. But they often contain other useful information like design specs or requirements and supplier documentation that can also be connected to your asset register and will assist your maintenance personnel in planning and carrying out work. Of course, it also helps identify assets missing from your EAM/CMMS, assets incorrectly described in your EAM/CMMS, and assets that are in your EAM/CMMS but do not appear to be found anywhere in the handover documentation.

Plant Walkdown 

The most expensive way but also the most accurate way to fix your EAM/CMMS asset register is a plant walk down. Completing a plant walkdown allows you to compare your physical assets to those in your existing EAM/CMMS asset register before a migration. Often a plant walkdown is combined with a drawing review, allowing you to update your drawings at the same time you update your asset register.  We always recommend that you take pictures of the assets during a walkdown that include the name plate information so that it can be entered into your asset register.

Have People Review the Areas of the Facility they are Familiar with in your EAM/CMMS System

Another way of ensuring your asset register is complete and accurate is having maintenance or operations workers familiar with the assets review the information in your EAM/CMMS. They can often quickly identify obsolete and missing assets and figure out where to find missing information for assets like make, model and serial number. Often the best way to have an accurate register is to give ownership of this data to workers responsible for the data. But they also benefit from having an easy process for updating the data efficiently otherwise it will distract them from their primary responsibilities.

An EAM migration will not fix an incomplete asset register. NRX AssetHub, powered by HubHead Corp., provides asset-intensive businesses with world-class software for visualizing, building, editing, organizing, governing, and sustaining high-quality asset data for their EAM and CMMS systems. If you would like to learn more about our solution, book a demo, and our team would be happy to help you!