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Improving Asset Management

Focusing On What You Truly Need To Improve Asset Management


Two things: OBSERVE and LISTEN

OBSERVE both the equipment when you walk the facility and the people you meet. Observe their body language.

LISTEN to what your client, internal or external, says. Truly listen. Far too often, while we listen to someone speaking, we are also preparing our reply/retort without fully listening to what’s being said.

The ability to observe and listen is crucial to finding out not just what your client SAYS they need but actually finding out what the client TRULY needs. The first step we recommend is to perform a Reliability Diagnostic. Agreeing with the results of this step and seeing the answers firsthand will convince everyone of the direction that needs to be taken and the order in which to take those steps. Never sweep the results under the carpet because you don’t like them or because you consider them as perceptions. Remember, if it’s a perception, then that means it's reality for many people.

There are 10 essential communication skills required: 

1. Active Listening

  • Being a good listener is one of the best ways to be a good communicator. Otherwise, it's impossible to comprehend what you're being asked to do.
  • Paying close attention to what the other person is saying
  • Asking clarifying questions
  • Rephrasing what the person says to ensure understanding ("So, what you're saying is…")

2. Nonverbal Communication

  • Body language, eye contact, hand gestures, and tone of voice all color the message conveyed.

3. Clarity and Concision

  • Convey messages in as few words as possible. Say what you want clearly and directly, whether in person, on the phone, or via email. Be clear, concise, and precise.

4. Friendliness

  • A friendly, polite tone, a personal question, or simply a smile encourages engagement in open and honest communication, both verbal and written.

5. Confidence

  • Confidence shows that we believe in what we say and will follow through. 
  • Exuding confidence is as simple as making eye contact or using a firm but friendly tone. 
  • Always listen to and empathize with others.

6. Empathy

  • Demonstrate that you are listening and respect opinions, even when you disagree. It is essential to understand and respect other points of view.
  • We not only hear the noise but also ask ourselves why this noise is being generated.

7. Open-Mindedness

  • Be open to listening to and understanding the other person's point of view rather than simply conveying your message.
  • By entering a dialogue, we can have more honest, productive conversations.

8. Respect

  • Simple actions, such as using a person's name, making eye contact, and actively listening when they speak, will make the person feel appreciated. 
  • Convey respect through email by taking the time to edit the message. 

9. Feedback

  • Giving and receiving feedback appropriately is an important communication skill. 
  • Similarly, accept and even encourage feedback from others. Listen to the feedback given and ask clarifying questions as needed.

10. Picking the Right Medium

  • We always think about the person with whom we wish to speak. If they are swamped, you might want to convey a message through email. 

But out of all the attributes, which attribute, or attributes, need your immediate attention?   Which attributes need attention but can wait further into the future?  How much further into the future? What attributes in your organization are performing well and do not need your attention?  Performing a Reliability Diagnostic will give you the information you’ll need to answer those questions and much more!

The benefits of a Reliability Diagnostic are:

  • Benchmark your maintenance practices
  • Identify gaps
  • Learn how much the practices and gaps are costing you
  • Learn how to implement improvements

A Reliability Diagnostic should ask four pivotal questions:

  • What are the current and unique drivers?
  • What are the prime threats (fears)?
  • What must be dealt with as prime issues in the next 3 years?
  • What are the key objectives from now on, looking forward over the next 3 years?

The question categories for an Asset Management Reliability Diagnostic encompass questions related to Maintenance Strategy, Work Identification, Work Control, and Work Execution.  Give accurate information, and the analysis will give you a clear picture of where you are right now with no bias or prejudice. 

When you consider that:

  • At least 50% of companies that start a maintenance strategy project do not implement the results effectively. 
  • 96% of plants that implement condition-monitoring programs do so to reduce unscheduled breakdowns. Out of those 96% that implement those programs without proper analysis, 40% claim they did not achieve the expected return on investment (ROI).

The picture you see today may not be a pretty one. Still, with accurate information, the image will be clear, allowing your company to take future steps in asset management improvement with confidence.