Developing Asset Maintenance Evaluation System

In today’s global environment, asset maintenance has become a prominent function for manufacturing organizations to enhance production operations and support business transition. Significant efforts have been conducted by researchers and practitioners on selecting maintenance strategies, implementing advanced technologies for optimizing asset’s life cycle cost. Meanwhile, the increasing importance of asset maintenance management requires the maintenance activities be measured in terms of their productivity. However, there is no “easy way” to measure the performance of asset maintenance due to the complexity of maintenance function. The existing approaches cost organizations a tremendous amount of time and resources. The purpose of this study is to develop a model that provides thorough and accurate evaluation for asset maintenance in a time-efficient and cost-effective manner. The developed model could be used for both external assessment to obtain concrete information prior to providing service and internal assessment to enhance continuous improvement. A number of organizations have participated in this study for validating the effectiveness and applicability of the model.