challenges in implementing enterprise asset management systems
TRANSCRIPT
Implementing an Enterprise Asset Management System-- Key Success Factors
Jackie Luo – CEO, E-ISG Asset Intelligence
Enterprise Asset Management (EAM) System – What It Is
• Life cycle management of assets• Financial, physical, and contractual
information• Operational platform
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3 Key Elements in the EAM System
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People Process
Technology
People – Challenges
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• Functional silos – Finance, IT, Facility, Property Management
• Formalized roles and career paths for asset management professionals
• Support for training and development
People
People – Best Practices
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• Executive level support/mandate• Cross functional collaboration – Finance, IT,
Facility, Property Management, Inventory Control
• Knowledge and training in asset management
• Hold people accountable for their contribution to the process
People
Process – Challenges
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• Lack of ownership• Updated documentation on business rules
and processes• Lack of visibility to the performance
Process
Process – Best Practices
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• Documented and updated processes– end to end
• All stakeholders are trained• Measure the performance in the process
– Breakdown into sub processes – life cycle stages
– Measure effectiveness in each process– Quantify the measures
Process
Technology – Challenges
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• Stability and scalability• Implementation complexity• Future proof• Vendor ongoing support• Integration with other systems• Cost
Technology
Technology – Best Practices
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• Driven by Business Requirements• Consulted by Technology Experts
– Current and future technologies– Enterprise Software, Cloud, Mobile, Asset
Tracking, ERP
• Thorough analysis on total cost – deployment and ongoing
Technology
Challenges in implementing EAM system
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Agree on Success
Measures
Define project scope
Manage Project
Agree on Success Measures
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Agree on Success
Measures
• Success Measures based on milestones• Quantified cost savings• Quantified asset management
performance metrics
Define Project Scope
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Define project scope
• Phased approach• Define scope for each phase
– Type of assets– Departments involved
Manage Project
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• Project Plan• Oversight• Decision making process• Risk Management
– Incentives– Penalties
Manage Project