Asset maintenance isn’t just about fixing things when they break. It’s a complex mix of strategies, both proactive and reactive. Finding the most cost-effective blend makes all the difference in the success of your maintenance program and your business as a whole.
Whether your team is scrambling to put out fires or using cutting-edge predictive tools, the type of maintenance program you use dramatically impacts downtime, costs, and the lifetime of your equipment. Managers and technicians alike should be well versed in the different types of asset maintenance to ensure they’re fully prepared to keep machinery humming.
What is asset maintenance?
Asset maintenance is vital to operational efficiency. The right maintenance program:
- Extends the lifespan of machinery
- Reduces unplanned downtime
- Optimizes maintenance spend
- Makes the workplace safer and more productive
Different strategies suit different types of assets. Some equipment requires round-the-clock attention while it’s more cost-effective to push others until they fail. Understanding these nuances will help you craft a strategy that takes risk factors, performance standards, and your budgets into account to encourage informed decision-making.
Types of asset maintenance
On a basic level, asset maintenance strategies fall on a spectrum from more reactive to proactive and preventive.
Reactive asset maintenance
Reactive maintenance, also known as corrective maintenance, is the least strategic approach to managing assets. It’s often called “run to failure” because maintenance departments wait for equipment to break down before taking action. It often means:
- Little planning upfront
- Urgent action if there’s asset failure
- Longer periods of downtime
Many teams rely on this method because they lack the resources for more proactive planning or don’t see the value of making a change. In the short term, reactive maintenance is comparatively inexpensive. While it’s often best for non-essential, low-cost assets, reactive maintenance can prove a problematic strategy when it’s applied broadly.
Preventive asset maintenance
Preventive maintenance involves regular pre-scheduled upkeep to prevent breakdowns. With this strategy, technicians aim to replace parts before they fail and perform routine maintenance at regular intervals.
This approach reduces unexpected downtime and extends the useful operational lifetime of machinery. In some cases, however, too much preventive maintenance can lead organizations to overspend on assets that don’t need the attention.
Implementing preventive asset maintenance strategies involves scheduling maintenance activities based on factors like the passage of time or equipment usage. The strategy is generally a good match for assets that have predictable wear patterns or where equipment failure could cause significant disruptions.
Technicians need to find the appropriate balance to ensure they conduct maintenance as frequently as they need without overspending or overexerting their teams. Success depends on understanding equipment performance and continually refining your approach.
Predictive asset maintenance
When teams use predictive maintenance, they leverage the power of data analytics and machine learning to forecast when equipment may fail and execute work at the ideal time.
Key features of this strategy include:
- Sensors to collect continuous performance data from assets
- Advanced analytics to identify patterns and point to opportunities for improvement
- Proactive maintenance scheduling based on data-driven predictions
Technicians that use predictive maintenance say it helps them allocate resources better, reduce downtime, and boost useful life of equipment. Nevertheless, it generally requires an initial investment in technology and specialized knowledge to implement these tools effectively. IoT devices play an important role, collecting vast amounts of data on equipment performance, temperature, vibration, and other relevant factors. Sophisticated algorithms then use the data to predict the best timing for upkeep.
Condition-based asset maintenance
When using a condition-based maintenance (CBM) strategy, teams monitor the real-time status of assets to decide when maintenance should be carried out, instead of relying on future predictions or forecasts. CBM involves regular scanning of equipment parameters and triggering maintenance actions when specific indicators show signs of deterioration or impending failure.
CBM bridges the gap between preventive and predictive strategies, offering proactive maintenance without the complexity of advanced analytics. CBM programs reduce unnecessary maintenance and promote greater reliability from equipment in the long run. The strategy may not offer as much lead time for actual planning as predictive maintenance.
How to choose the right types of asset maintenance
Maintenance strategies are not one-size-fits-all. Implementing an effective program demands a grasp of your resources and business objectives while factoring in operational limitations.
When conducting a criticality analysis and developing your overall maintenance strategy, consider these factors:
- Asset age and condition
- The consequences of equipment failure
- Maintenance costs vs. replacement costs
- Available resources and expertise
You might apply predictive maintenance to crucial, expensive machinery while using reactive maintenance for easily replaceable, low-impact items. This hybrid approach allows for efficient resource allocation and risk management.
The importance of an asset plays a vital role in determining the most suitable maintenance strategy. Critical assets—those whose failure would significantly impact safety, production, or costs—warrant more proactive and sophisticated maintenance approaches. Less important assets might be candidates for simpler strategies.
Remember, your mix of maintenance strategies isn’t set in stone. As your assets age, technology evolves, and business needs change, so should your maintenance approach. Regular review and adjustment of your maintenance strategies will help them stay aligned with your organizational goals and asset performance requirements. The key is to remain flexible and data-driven, continuously optimizing your approach based on real-world results and changing circumstances.
Implementing different types of asset maintenance
All of this takes careful planning and execution. Start by assessing your current asset landscape and maintenance practices. Make sure to establish goals and key performance indicators (KPIs) for every kind of maintenance you’re putting into practice. It’s important to get a Computerized Maintenance Management System (CMMS) to help streamline work order management and performance monitoring for each of your assets. Insights from custom dashboards will help you assess the efficacy of your maintenance strategies and, when necessary, make adjustments.
Equally crucial is training your maintenance team. Each type of maintenance demands specific skills and mindsets. Reactive maintenance calls for fast problem-solving skills while predictive maintenance relies on interpreting data effectively and efficiently. Managers can do their part as well by fostering a culture of ongoing education. Remember, successful implementation is all about refining and optimizing as you go.
How to measure the success of various asset maintenance types
To gauge the effectiveness of your maintenance strategies, track KPIs tailored to each approach. For reactive maintenance, monitor Mean Time to Repair and the costs of emergency maintenance. Preventive maintenance success hinges on things like planned maintenance percentage and schedule compliance. Predictive and condition-based approaches benefit from tracking asset uptime. Tracking long-term savings will help maintenance managers showcase the ROI of investing in these strategies.
Check out our product tour to learn how Limble’s reporting features arm you with insights for refining your mix of asset maintenance strategies and getting the most value from each piece of equipment.
