What is asset hierarchy?
An asset hierarchy is a logical index of all your maintenance equipment, machines, and components, and how they work together. By combining the strategy of an asset hierarchy with your CMMS, the condition data from your most important assets indicates the ideal maintenance schedule to prevent breakdowns.
What is the asset management hierarchy?
Asset Hierarchy describes systems and components along with individual attributes for each asset type. Your chosen solution should support multiple Asset Hierarchies for different projects and customers.
What is asset hierarchy Maximo?
For modern asset management in Maximo, the term “asset hierarchy” should be used to describe the physical and functional fundamentally parent-child relationship of nodes built within the Location application whereas physical equipment becomes the mostly flat Asset Registry which is managed in the Assets application.
How many hierarchical levels are there in reliability analysis?
The standard hierarchy is broken down into nine levels. It is important to note that in some instances there is no need to dive deeper than level 6, and in other instances, it is vital to dive down to the individual part level.
How do I create asset hierarchy in Salesforce?
To create hierarchical relationships between assets, use the Parent Asset field and the Child Assets related list on asset detail pages. Assets also come with a few additional fields related to hierarchies: The read-only Root Asset field lists the top-level asset in an asset hierarchy.
What is asset validation?
Asset validation focuses on the process of establishing the fair value of your assets. This makes product and value the two most important factors for your organization. In this situation, fair value is a decisive factor, both for financial regulations such as IFRS, as well as for your organization.
Why do you want to work in asset management?
Why Do You Want to Work in Asset Management?
- Because in asset management people can make and implement decisions by themselves.
- Because people in asset management can be made responsible for the investment performance, which is a responsibility.
What is an asset hierarchy and why is it required?
An asset hierarchy allows companies to organize their equipment and machines stationed across various locations. It is critical for understanding how action on one machine affects other machines and establishing the parent-child relationship amongst multiple assets.
What does location hierarchy mean?
A location hierarchy is a grouping of locations based on a status or category within a structural level. The grouping can contain several levels with the possibility of zero locations or several locations at each level.
What are the hierarchical levels of transmission and distribution network?
power system is typically hierarchical and is divided by functional areas depending on the voltage levels. These levels, which are the transmission network, the high/middle voltage (HV/MV) substations, the MV distribution network, the MV/LV transformer substations and the LV network, are shown on Figure 1.
How do you create asset hierarchy?
Create an asset hierarchy manually
- Start by creating the main site location.
- Select Locations or Facilities.
- Select As a new location, enter the location information, and click OK.
- Add a name, a description, and click Save.
- Next, create a location within the newly created facility.
What is an asset hierarchy in maintenance software?
An asset hierarchy is a logical index of all your maintenance equipment, machines, and components, and how they work together. Building and understanding your facility’s asset hierarchy is critical to efficiently tracking, scheduling, and identifying the root causes of failure in your equipment.
Why do you need location and asset hierarchy?
Business goals for improved asset reliability, worker safety, uptime and work force productivity are common desired states. If the location hierarchy and asset registry are not properly implemented, the benefits of using Maximo for effective Asset Management will most likely not be realized.
Why do you need location hierarchies in Excel?
Since a location is “fixed in space” within the hierarchy structure it will always have cost and work history tied to it. Since assets can be removed/returned with a new asset installed in its place, it is desirable to both maintain the integrity of all costs and history.
Which is the building block of asset management?
The asset registry itself, structured into a functional location hierarchy, is the fundamental building block for asset management. It is important to remember that the “end-game” is not the hierarchy itself.