IBM SG24-7645-00 manual 1.2Maximo Asset Management Essentials, 7645introduction.fm

7645introduction.fm Draft Document for Review May 23, 2008 10:14 am

creation of request for quotation, generation of purchase order, receiving an asset at a location and creation of an invoice.

c.Commissioning - At this stage of the asset life cycle, it is assigned to a location, user or group of users. The cost of operating the asset is now attributed the owner of the asset. Also, asset availability is now the responsibility of the owner. This includes maintaining the asset regularly to ensure the asset is up and running whenever business needs it. The various activities that are typically undertaken at this point are Work orders, job plans, safety planning, preventive maintenance, emergency maintenance and / or seasonal maintenance

d.Retirement - Some enterprises call this decommissioning too, this is the stage where an enterprise decides to replace or remove the asset. However, the importance of this stage from an enterprise asset management perspective is to be able to calculate the residual cost of the asset and also in certain cases being able to transfer parts of the asset to another asset. For instance, say few months ago someone just replaced a critical and expensive part of an asset because of a fault and that part can now be re-used since it not very old but is expensive.

The concept of Enterprise Asset Management evolved from Computerized Maintenance Management System (CMMS). An enterprise’s assets are very critical and with the global competition it s becoming imperative for companies to maintain and plan various stages of the asset life cycle strategically. Thus, the reason for having Enterprise Asset Management as a dedicated function within an organization which encompasses purchasing, engineering, accounting and maintenance management.

Broadly, the benefits of enterprise asset management can be summarized as:

￿Cost Reduction

￿Legal Requirements

￿Better Planning

￿Competitive Advantage

￿Information Availability

1.2Maximo Asset Management Essentials

IBM Maximo Asset Management Essentials is an asset management system that provides asset management, maintenance management, inventory management, purchasing capabilities that help corporations maximize productivity and increase the life of assets.

2Maximo Essentials V7.1 - Implementer’s Guide