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7645introduction.fm Draft Document for Review May 23, 2008 10:14 am
2 Maximo Essentials V7.1 - Implementer’s Guide
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
1.2 Maximo 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.