How Does Pride Get in the Way of Good Asset Management?

How Does Pride Get in the Way of Good Asset Management?

6 October, 2011

Pride in one’s work, knowledge, accomplishments and children is a good thing. Pride adds to self confidence, higher self-esteem and an overall sense positive outlook on life. However, too much pride may have negative consequences. When it comes to asset maintenance and management too much Pride becomes one of the 7 Deadly Sins of Management.

Pride is considered one of the 7 Deadly Sins of Asset Management because it ultimately results in higher labor costs, higher turnover and greater capital funds needed for major repairs. To explain, excessive Pride leads to an overdeveloped ego with resulting blinding effects to good asset management. This ego, leads asset managers to refuse to believe that Maintenance, Repair and Operations (MRO) can be done better because they know best. Common signs include ignoring maintenance improvement suggestions by staff or by insisting on using their current paper based work order management system.

The good news is that the pattern of narcissistic behavior can be challenged. The secret is convincing maintenance management that moving to an Enterprise Asset Management (EAM) system for asset and maintenance management is their idea. Sometimes it is as simple as making slight changes to a statement. For example, after an unexpected major repair has occurred you can tell the boss their is a better way (which they won’t listen to) or suggest that you know a way to make the boss look like a hero. Any smart egotistical person will listen to a way to make them look like a hero.

Once you have their attention the next step is to sell them the benefits of an EAM system. Some of the major benefits include:

  • Reducing paper flow and saving the environment. Accomplished by replace manual work order management with an automated EAM system using handheld devices to between staff and the maintenance office.
  • Beating budget expectations. Management reviews are often tied to budget performance. By scheduling preventive maintenance and inspections, there will be fewer unplanned repairs, less overtime and assets will last longer. It is the trifecta for exceeding budget expectations.
  • Lowering employee turnover. Implementing an EAM system gives staff the ability to provide input, expertise as well as redefine the work order life cycle. Employees who feel they are contributing, feel better about themselves and their position and as a result are more likely to stay despite the narcissism of the leader.
  • Quick payback. When implemented correctly, and EAM can bring significant savings just by going after the Low Hanging Fruit (easy efficiency savings with automation).

Of course after selling the benefits of an EAM system make sure you have a few companies for them to look at. Make sure your list has stable companies with strong experienced technical support staff.

Pride is just one of the 7 Deadly Sins of Asset Management. Recognizing the signs is the first step to saving your maintenance operations. The signs are increasing labor costs, above industry turnover, unexpected capital repairs and a belief that there is nothing left to learn about your assets. Recognize the signs and take action before your maintenance operations puts the company at risk.

Stuart Smith writes about Enterprise Asset Management and Computerized Maintenance Management Software Solutions for Mintek Mobile Data Solutions. Mintek’s Transcendent EAM/CMMS is a leading solution for facilities asset management.

Author: S W Smith
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