Asset Criticality Ranking, the turning point an effective AMMP

Asset Criticality Ranking, the turning point an effective AMMP

An effective ‘Asset Management Master Plan’ or AMMP, is the blueprint which enables the maintenance department of any organization to optimally manage the lifecycle of the physical assets of that organization. However, not all assets in a plant or facility, are of the same significance to the production or service process used by an organization. ‘Asset Criticality Ranking’ or ACR is a Reliability-Centered Maintenance process and a fundamental analysis tool, used for categorizing the physical assets of any organization. ACR is the tool to use if an organization intends to manage its plant or facility assets effectively and improve reliability of its assets based on risk instead of perception. In this article we have discussed a detailed process to analyze the criticality ranking of the assets in an organization, so the most appropriate maintenance strategies can be then be identified and applied as part of an effective AMMP developed based on these ranking.