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01 Dec 2016

Overseeing a Data Build or Repair Project

December 01, 2016Blog

Whether you are building an asset registry and supporting maintenance information for a new capital project, or preparing to fix your asset and maintenance data as part of a data overhaul, you need confirmation that the new data is accurate, complete, and relevant for your business.

Can you quickly identify where to focus your efforts? Readily see where the holes are in your data? See which assets are missing from the registry? And which are missing critical pieces of maintenance data, such as maintenance plans and task lists?

If the answer to any of these questions is “No”, don’t worry. You are not alone. Building asset and maintenance data for a single piece of equipment can be tricky and time-consuming, and requires subject-matter knowledge, and high-quality supporting documentation. Consequently, undertaking a data build for a large capital build project or a large data repair project can be overwhelming.

What do asset-intensive companies typically do?

Most asset-intensive companies hire contractors and consultants to build or repair their data, and hand it over when the process is complete. Data arrives from multiple sources, including an existing CMMS, engineering, reliability, and spares systems. Only when the data is in production does it become apparent that it is incomplete, or incorrect, or duplicated. Clearly, this is the most expensive time to learn that the data has quality issues.

What are your options?

You have a few options:

  • Do nothing
  • Hire more consultants
  • Use NRX AssetHub to get the data right, and keep it that way

What if you do nothing?

If you do nothing, at best, you have short-term data. Your data will inevitably decay over time as assets are retired, replaced, or moved. At worst, you have bad data. The data you load into your CMMS is neither accurate nor complete, nor can you even measure just how poor it is. As a result, your maintenance costs go up while your maintenance technicians waste valuable time looking for assets, locating the right parts, and you stock parts you will never use.

What if you hire more consultants?

Unless you hire a consultant who uses NRX AssetHub to manage the data build or data repair, you are essentially wasting money and time. The consultant cannot accurately monitor the project in real time using spreadsheets or a database, and the results can only be marginally better than before, at a significant cost to you. Also, you have no way to prevent the data issues from happening again over time.

What do companies using NRX AssetHub do?

Asset-intensive companies use NRX AssetHub as a staging tool to collect and merge data handed over from EPCs, consultants, and contractors. They use NRX AssetHub to build and edit data collaboratively.  They use NRX AssetHub as a productivity tool, taking advantage of its easy-to-use visual interface, which allows them to build better maintenance data, faster.

These companies use NRX AssetHub to measure the completeness of their asset registry, ensuring that all required attributes are specified. They also use NRX AssetHub to measure compliance of their data against their corporate standards, allowing them to focus on areas of concern.  For example, the NRX AssetHub Data Quality Report highlights safety-critical equipment without maintenance plans.

Companies using NRX AssetHub proactively monitor the progress of a data build or data repair project easily and iteratively, in real time, measuring progress as the build or repair advances. They use reports to identify gaps and inadequacies at a glance, and to clearly communicate data quality issues to consultants and contractors, as the issues arise.

Once the project is complete, these companies use NRX AssetHub to ensure their data remains compliant, and accurate. They also find it much easier to keep the data up to date, because the solution is very simple to use.

 

How does NRX AssetHub help customers save?

  • We help our customers typically save a minimum of 50%on the cost associated with a CMMS data build.

  • We help our customers typically achieve at least a 2.5% savings in ongoing maintenance and operations

 

 

If you would like to find out more about how NRX AssetHub can help you easily build high quality EAM/CMMS data, give us a call.

If you would like to find out about this solution or the many other ways NRX AssetHub can help your business, check out the link: http://www.nrx.com/solutions/

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