Optimizing Asset Performance: 7 Essential Maintenance KPIs

Here is where your presentation begins

Maximizing Asset Performance: 7 KPIs Every Maintenance Team Must Measure and Optimize

Asset maintenance is a crucial aspect of any organization that owns and operates physical assets. To ensure the smooth functioning and longevity of these assets, it is essential to track and manage key performance indicators (KPIs) that measure their health, utilization, and efficiency. Here are seven asset maintenance KPIs that you should be tracking and managing to maximize asset performance:

1. Mean Time Between Failures (MTBF)

2. Mean Time To Repair (MTTR)

3. Overall Equipment Effectiveness (OEE)

4. Asset Utilization

5. Planned Maintenance Percentage (PMP)

6. Mean Time Between Maintenance (MTBM)

7. Cost of Maintenance (CoM)

Mean Time Between Failures (MTBF): This KPI measures the average time elapsed between two consecutive failures of an asset. A high MTBF indicates that the asset is reliable and durable, whereas a low MTBF signifies that the asset is prone to breakdowns and requires frequent repairs.

Mean Time To Repair (MTTR): This KPI measures the average time taken to repair an asset after it fails. A low MTTR indicates that the maintenance team is efficient in identifying and fixing issues, minimizing downtime, and optimizing asset utilization.

Overall Equipment Effectiveness (OEE): This KPI measures the asset's productivity by considering its availability, performance, and quality. A high OEE indicates that the asset is operating at maximum efficiency and generating maximum output.

Asset Utilization: This KPI measures the percentage of time that an asset is in use versus the time it is idle. A high asset utilization rate indicates that the asset is being used to its full potential, whereas a low utilization rate indicates that the asset is underutilized and could be optimized.

Planned Maintenance Percentage (PMP): This KPI measures the percentage of maintenance activities that are planned and scheduled in advance, versus those that are reactive and unplanned. A high PMP indicates that the maintenance team is proactive in preventing breakdowns and minimizing downtime.

Mean Time Between Maintenance (MTBM): This KPI measures the average time elapsed between two consecutive maintenance activities on an asset. A high MTBM indicates that the asset requires minimal maintenance, whereas a low MTBM signifies that the asset is prone to issues and requires frequent maintenance.

Cost of Maintenance (CoM): This KPI measures the total cost of maintenance activities required to keep an asset running. A low CoM indicates that the maintenance team is efficient in managing costs and optimizing maintenance activities.