Asset Management Research Report Slides

Research Report on
Asset Management Practices,

Investments and Challenges
2014-2019
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Note: Throughout this report, the term ISO55000 is used for consistency however the reader should be aware that ISO has published a series of three documents designed to be utilized in
concert. Only ISO5501: 2014 has requirements that can be met.
The series includes:
ISO55000: 2014 Asset Management- Overview, principles and terminology
ISO5501: 2014 Asset Management- Management systems - Requirements
ISO5502: 2014 Asset Management systems - Guidelines for the application of ISO5501
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26%
What Industry Do You Represent?

Values
100
11%
10%
9%
8%
75 7% 7%
5% 5% 5%
4%
3%
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25
36%
30%
31%
6%
3%
O
Lead Asset Individual Contributor Other Support to Asset Not Involved

Management to Asset Management Asset Management
Management
How Many People Are In Your Organization?
22% 17% 9% 33% 15%
Over 100,000
Under 100 100-499 500-999 1,000-9,999 10,000-99,999
4%
Where Are You Located?
20%
16%
14%
9%
8% 6%
7% 7% 4% 4%
2% 1% 2%
Global/Multiple United States Canada Mexico South/ Australia/ United Europe China/ Russia India Middle East
Central New Africa
Countries Kingdom Asia
America Zealand
Asset Management and Risk
Management Standards
54% Aware they Exist but

31% Well Versed
31.19%
not Familiar with the Content
14%
Well
Please Please 13.83%
53.70%
Versed
Describe Your Describe Your
Awareness of the Awareness of the
ISO55000
I am well versed in the contents
ISO31000
I am well versed in the contents
I am aware they exist but not familiar of the contents 10% I am aware it exists but not familiar of the contents
Asset Management
I am not aware of ISO55000 10.07
Not Risk Management
I am not aware of ISO31000
Standards Aware Standard
58.74%
32.47
59% Aware they Exist but not 32% Not Aware

Familiar with the Content
Your Managing System Framework
100
100
75
75
51%
50
51% 42%
50 38%
42%
38%
25
25
9.00%
9.00%
O
O
ISO9001 ISO14001 No ISO certification Other ISO
certification
ISO9001 ISO14001 No ISO certification Other ISO
certification
Long-Term Goals Short-Term Goals
vs.
Asset Information (Data) Management Systems
Asset Management Consulting Services

2015-2019 2014-2015
35%
29%
39%
34%
Business Intelligence, Analytics and Reporting
29% 22%
Asset Performance Measures and Metrics
40% 43%
Asset Reliability Improvements 43% 43%
Risk Management and Risk Assessment
38% 37%
Asset Condition Assessment Tools
37% 37%
Asset Lifecycle Costing/Lifecycle Modeling 36% 31%
ISO55000 Compliance or Certification 33% 20%
Asset Investment Planning 26% 23%
Computerized Maintenance Management Systems 27% 31%
(CMMS)/ Enterprise Asset Management (EAM)
Reliability Centered Maintenance 35% 34%
Wireless or Remote Sensing Technologies 22% 17%

Change Management 25% 26%
Data Quality Improvements 28% 26%
Asset Management Training 41% 43%
Are You Planning to Conduct an
100
ISO55000 Asset Management Gap
75 Assessment?
50
43%
28%
25
22%
7%
Already Completed Over the next 12 months Over the next 1-5 years Not Planning
100 Please Indicate Your Plans Regarding
75
Asset Management Benchmarking
50
33%
31%
25
21%
16%
Have Already Completed Asset Asset Management Plan to Conduct No Plans to Conduct Asset
Management Benchmarking Benchmarking is in Process within 12 Months Management Benchmarking
Asset Information
Management and 11% 11%
Plans to Improve It 63%

Describe Your
Asset Information
Management System
7%
7%
63% 19%
I am not sure what asset information
Does not support any of our asset m
It supports some aspects of asset m
It fully supports effective asset man
19%
It fully supports effective asset management I am not sure what asset informati
It supports some aspects of asset management but has gaps for other aspects Does not support any of our asset
Does not support any of our asset management strategies and plans It supports some aspects of asset
I am not sure what asset information management is It fully supports effective asset ma
Top Three Plans to Improve
Implement asset condition information management 33%

Implement data analytics 32%
Integrate Capex and Opex project and
31%
information management systems
0 200 400 600 800
100
What Is the Biggest Obstacle for
75
Improving Asset Performance ?
50 40%
25%
25 16%
12%
8%
O
Cost/ Priorities Executive Capabilities Organizational
Funding Support Culture
Top Five Benefits You Expect From
Asset Management
Lifecycle Cost Reduction 68%
Identifying and Managing Risk 66%
Extracting Data to Support Evidence-Based

Asset Management Decisions 58%
Determining the Optimum Maintenance

Approaches for Assets 57%
Changing Company Culture 52%
Does Your Organization Have Plans
to Outsource Any Part of Your Asset
Management Program?
29%
71%
Yes
No
29%
71%
Plans for Asset Management Policy and
Strategic Asset Management Plan
Are You Planning to Create an

40%
40%
Asset Management
Already have Policy?
asset management policy
Plan to implement
Already have
Already
within 12have
asset managementan
months assetmanagement policy
policy
PlanNo
to implement
plans to implement
Plan to implement within 12 months
within 12 months
38%
22% NoNo plans
plans to implement
to implement
38%
22%
Already have an asset management plan
Are You Planning to Develop a Strategic
Plan to implement within 12 months
Asset Management
No plans to implement Plan?
Already have an asset management plan
23% Plan to implement within 12 months
No plans to implement
44%
33% 23%
44%
33%
Factors Use in Your Organization
100
When Considering Asset Management

75
Improvements
90%
90%
50
63%
63%
54%
54%
25
O
Achieving Achieving Social Achieving Economic Goals
Environmental Goals Responsibility Goals
Why Do You Have Interest in Asset
100
Management?
Aging Assets/ Understand Increase Asset Meet Regulatory
Infrastructure Consequences Service Levels at Requirements
77% Lower Cost
75 of Asset Failures
66%
61% 60%
54%
50 50%
46%
44%
25 Other
7%
O
Increase System Transfer Improve Budget Improve Financial
Reliability Knowledge Forecast Results
of Aging
Workforce
What is the Furthest Detailed Planning
100
Horizon for Your Organizations Asset

Management?
75
50
40%
40%
33%
33%
25
12%
12%
9%
9%
6%
6%
O
1-4 years 5-10 years 11-15years More than No Plan
15 years
Indicate Your Use of Asset Management
Program Performance Metrics
Asset Failure Metrics 57%
Maintenance Cost Metrics 60%
Asset Service-Level Metrics 25%
Unit Cost Metrics 36%
Availability Rates 53%
Reliability Rates 46%
None of the Above 6%
Do Not Track Asset Performance 10%
Other
4%
Values
0 20 40 60 80 100
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Research Report on

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comments and suggestions.

QUESTIONS REGARDING THIS DOCUMENT:

PHONE: (888) 575-1245; FAX: (309) 423-7234

POSTAL: Reliabilityweb.com, PO Box 60075, Fort Myers, FL 33906, USA

WEB ADDRESS: http://www.reliabilityweb.com

What Industry Do You Represent?

Lead Asset Individual Contributor Other Support to Asset Not Involved

22% 17% 9% 33% 15%

54% Aware they Exist but

Standards Aware Standard

59% Aware they Exist but not 32% Not Aware

Asset Management Consulting Services

Wireless or Remote Sensing Technologies 22% 17%

Plans to Improve It 63%

Implement asset condition information management 33%

Lifecycle Cost Reduction 68%

Identifying and Managing Risk 66%

Extracting Data to Support Evidence-Based

Determining the Optimum Maintenance

Changing Company Culture 52%

Are You Planning to Create an

23% Plan to implement within 12 months

When Considering Asset Management

Horizon for Your Organizations Asset

Maintenance Cost Metrics 60%

Asset Service-Level Metrics 25%

Unit Cost Metrics 36%

Availability Rates 53%

Reliability Rates 46%

None of the Above 6%

Do Not Track Asset Performance 10%

Additional Support and Research Insight Provided by:

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