By Rick Clonan
Determining which assets are critical to an organization is something that should be performed early on in any maintenance and reliability journey. Without this information, difficulties will ultimately arise when deciding the direction for improvement activities and asset management strategies. This presentation will describe how to determine which assets within a facility or organization are the most critical based on a proven system. This system utilizes a simple, yet customizable matrix that if implemented correctly, will provide a granular ranking of assets. It is that granularity that is the specific goal of asset criticality analysis. Once the list of assets has been ranked, defining the critical assets from that list will be much easier to justify. With that information, organizations can then begin to make data-based decisions regarding asset care, resource allocation, and work management while keeping the focus on organizational impact and cost reduction.