Maintenance Metrics with Brandon Weil
Whenever we talk about successful business practices, planning and scheduling remains a key element. Not only it helps you track performance but it also helps you build on the initial layout later on. Through performance management, you will know what’s going on inside an activity and process. Now, performance management is the combination of systems that are responsible for achieving the goals of the organization. These may include accountability, assessment, and measurement techniques that are used in the organization. On the lower level, metrics are being used to measure performance.
Performance are then further measured in terms of KPIs which are on the higher level and contains key values — set numbers or prioritized activities. These are to make sure the organizations are achieving the set objectives. When organizations design a metric, they need to set balanced KPIs. Otherwise, they will have to face the undesired behaviors due to off-balance goals. So, how do you pick the right KPIs for that? Well, first you need to look for what is out there in the industry. If some other organizations or sources are using good metrics, you should use those.
All you need is to align those metrics with your own business processes. You just start at the lower level with laying out the metrics and build your way up to the top level with necessary KPIs that your business needs. You can also use online sources for help such as SMRP material, blogs, and other documentation. Data quality plays a huge rule if you are looking to design good metrics and determine the best KPIs. In case your metrics and KPIs are not fit for your business, it can cause catastrophic losses.
You need to be consistent with data, trend it, and then you will be able to get it right after a few times. Then you should be able to determine the leading and lagging indicators for your business. You will be able to tell the difference if you know what is your purpose behind using that particular KPI. After that, you can use the combination of both types to design the perfect metrics for your business goals. You can decide to have different KPIs for different levels in the organizational hierarchy as well. The distribution should be such that every individual understands what is his role in the overall performance.
He will only be able to understand and live up to the expected results when he truly understands the set KPI. You need to have clear communication with everyone to derive that kind of behavior and change that leads to successfully getting to common objectives. These goals should be realistic and everyone should be appreciated and rewarded for their performance. The main goal should be to make everyone understand how their actions are going to affect the metrics. This way, you will have well-aware task force and not just planned or expected, unrealistic, and inconsistent results.
Eruditio Links:
- Eruditio
- HP Reliability
- A Smarter Way of Preventative Maintenance Free eBook
- inspired Blended Learning (iBL®)
- James Kovacevic’s LinkedIn
Brandon Weil Links:
- Eruditio
- SMRP 26th Annual Conference
- Recommended Resources: SMRP’s Best Practices, Metrics and Guidelines and BoK
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