ATLANTA (Oct. 9, 2013) – The Society for Maintenance and Reliability Professionals (SMRP) announced the release of the newly revised SMRP Standardized Metrics. The revisions feature the highly anticipated “best in class target values,” which provide valuable insight into the effectiveness and overall accuracy of asset management in the maintenance and reliability industry.
With the release of the revised metrics, maintenance and reliability professionals can not only uncover best in class target values where applicable, but also gain insight into formulas, ratios, statistics, definitions and references which combined provide a consistent benchmark to measure their performance. Current metrics from SMRP give reliable and standardized guidance on how to measure key performance indicators; the newly added best in class target values give guidance on how to effectively apply the metrics and to identify “what good looks like.”
“These metrics allow organizations to measurably improve their effectiveness within their respective fields,” said Shon Isenhour, SMRP chair and director of education at GPAllied. “We are proud to facilitate an industry tool that many companies can use to examine critical internal data that will further promote the growth of our industry.”
SMRP also added new search feature for e-Metrics called “bundles.” These bundles help the maintenance and reliability professional quickly find key Pillar 5 Work Management Metrics. Bundles are summarized as follows:
- Work Identification Metrics—Measures the distribution of the source of maintenance work, both by type of work and by cost. Tracking these metrics can help ensure that the appropriate priority is provided to execution of proactive activities. Metrics provide insight into their effectiveness by comparing the amount of time and money spent on them to the resulting corrective work identified by them.
- Work Planning Metrics—Determines the effectiveness of the work planning process. Internally provides insight into the efficiency and accuracy of plan development, and externally measure how those plans are used to increase workforce efficiency.
- Work Scheduling Metrics—Examines the effectiveness of the scheduling process by determining how well the schedule is adhered to. Additionally these metrics provide insight into the effectiveness of the Preventive and Predictive Maintenance programs by comparing the ratio of reactive work to proactive work and calculating the yield of those activities.
- Backlog Management Metrics—Determines how well the Maintenance Work Management process is functioning and its ability to move work through the system. Collectively, these metrics determine whether the labor resources available in the Maintenance organization are balanced with the workload demands placed upon it. They also provide insight into the level of importance placed upon Preventive and Predictive Maintenance activities by tracking the rate which they move through the system.
- Resource Management of People—Provides insight into the effectiveness of the labor management process and determines whether the staff support to the craft resource pool is adequate. They also examine the usage and management of contract resources and help determine whether the appropriate balance is placed on fixed and variable resources.
- Resource Management of Materials—Illustrates how well the storeroom and inventory management processes are working and can provide insight into leverage points for improvement within the materials management arena.
SMRP will be offering a 4th edition of SMRP Best Practices—a comprehensive compendium of all SMRP Standardized Metrics to date in a single PDF during their annual conference at the Indianapolis Convention Center, Oct. 14 – 16, 2013. The new edition includes all revisions and updates developed by SMRP’s Best Practices Committee since the third edition was released. Members can access new Standardized Metrics in the Library of Knowledge on http://library.smrp.org/.
The Society for Maintenance and Reliability Professionals (SMRP) is a nonprofit professional society formed by practitioners to serve leaders and advance reliability and physical asset management.