Asset Management:

Building the Business Case for the

Executive

December 2012
Nuris Ismail, Reid Paquin

Asset Management:
Building the Business Case for the Executive
With the uncertainty surrounding the economic recovery, manufacturing
executives are compelled to make difficult decisions related to capital and
operational budgets that remain very tight. It is good news then that
Aberdeen's December 2011 Enterprise Asset Management in 2012: A Data
Driven Predictive Approach to Maintenance report uncovered that having the
ability to increase return on assets and optimize utilizations can translate
into significant savings. Aberdeen surveyed 140 manufacturing executives to
determine the Best-in-Class business and technology capabilities that were
being adopted to address these issues.

December 2012

Analyst Insight
Aberdeens Insights provide the
analyst's perspective on the
research as drawn from an
aggregated view of research
surveys, interviews, and
data analysis

This Analyst Insight will uncover how top performing companies are able to
manage the reliability of their asset base to execute an asset management
strategy, which results in higher operational and financial performance. All of
this will build the business case for manufacturers to gain support from
executives to win budget and resources to implement an effective asset
management program.

Business Context
Unplanned downtime, inability to maintain planned production rates, safety
and environmental incidences are all problems that can be traced directly to
recurring equipment failure and operation mismatches in production rates
and capacities. Asset management is the methodical planning and control of
an asset throughout its lifecycle, including design and construction,
operation, maintenance, upgrades, and eventual disposal or decommission.
The challenges for managing asset lifecycle differ for each asset. For a
company commissioning a new piece of equipment, the challenge may be
bringing the asset online quickly after acceptance. For complex asset-based
manufacturing it may be related to tool and process qualification. For a
running facility it is maximizing asset effectiveness, availability, and reliability,
while for other enterprises it may be related to asset decommissioning.
These are compounded by the ongoing challenges of a retiring workforce,
an aging infrastructure, employee safety, and regulatory compliance, among
others.

"The company has widespread

assets and attempts to have a
clear view of the condition,
problems, risks, and outlook as
to downtime. The pressures
driving asset management is the
effect of downtime on revenue
and excess cost of
maintenance, which is not
much different this year than
last year."
~ Maintenance Supervisor for a
utilities company

Through an examination of the specific strategic actions Best-in-Class

companies are implementing around business processes, organizational
architecture, and knowledge management, this Analyst Insight establishes
how Best-in-Class companies are successfully addressing the challenges
highlighted to optimize performance while reducing operational cost and
unscheduled equipment shutdowns.
This document is the result of primary research performed by Aberdeen Group. Aberdeen Group's methodologies provide for objective fact-based research and
represent the best analysis available at the time of publication. Unless otherwise noted, the entire contents of this publication are copyrighted by Aberdeen Group, Inc.
and may not be reproduced, distributed, archived, or transmitted in any form or by any means without prior written consent by Aberdeen Group, Inc.

Asset Management: Building the Business Case for the Executive

Page 2

Top Business Drivers

Aberdeen's December 2011 Enterprise Asset Management report
uncovered that over half of the respondents have tight capital budgets as the
main force driving a focus on asset management. A year later, we see a large
decrease in the number of respondents, with slightly more than a quarter of
manufacturers feeling this pressure (Figure 1). However, it is also apparent
that manufacturers still operate in an economic recovery. Manufacturers are
now pressured with not only reduced capital budgets, but also reduced
operational budgets and rising material cost. As a result, cost cutting is a
constant battle for all business units; this is especially true in asset-intensive
industries, where the operational costs are generally higher.
Figure 1: Top Pressures Driving Focus on Asset Management

"As an organization, we are in

need for an updated and
improved maintenance
software in order to better
predict downtime. The older
machinery is causing higher
incidence of unplanned
breakdown. We have difficulty
in upgrading machinery when
competitive market drives
costs down, which leaves us
little budget to make these
needed upgrades.
~Procurement Manager
Cement Industry

Source: Aberdeen Group, November 2012

The ultimate goal of any successful asset-management program is to extend

the lifecycle and maximize the efficiency of all assets. Therefore, it comes to
no surprise that pressure to maximize Return on Asset (RoA) is a close
second. There is a constant battle in manufacturing to get the most out of
the current asset base and the subsequent aging of the asset. Manufacturers
are challenged in balancing these two pressures because while every
manufacturer wants to maximize asset utilization, they can't do it at the
sacrifice of the safety of employees, processes and the quality of their
products.

Maturity Class Framework

Aberdeen used four key performance criteria to distinguish the Best-inClass from Industry Average and Laggard organizations. These metrics
measure the success of an organization's asset management program not
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Asset Management: Building the Business Case for the Executive

Page 3

only in terms of how it has improved plant operations, but also how
successful these programs have been for achieving financial goals.
Respondents were divided into three categories based on their aggregate
performance in these four metrics: the top 20% of performers (Best-inClass), the middle 50% (Industry Average), and the bottom 30% of
performers (Laggards). Table 1 displays the aggregated performance of Bestin-Class, Industry Average, and Laggard organizations.
Table 1: Top Performers Earn Best-in-Class Status
Definition of
Maturity Class

Mean Class Performance

Best-in-Class:
Top 20%
of aggregate
performance scorers

91% Overall Equipment Effectiveness (OEE)

1.5% Unscheduled Asset Downtime
30% Reduction in Maintenance Cost
+20% Return on Assets vs. Plan

Industry Average:
Middle 50%
of aggregate
performance scorers

83% Overall Equipment Effectiveness (OEE)

6.6% Unscheduled Asset Downtime
13% Reduction in Maintenance Cost
+7% Return on Assets vs. Plan

Laggard:
Bottom 30%
of aggregate
performance scorers

72% Overall Equipment Effectiveness (OEE)

16.3% Unscheduled Asset Downtime
1% Reduction in Maintenance Cost
-13% Return on Assets vs. Plan
Source: Aberdeen Group, November 2012

Performance on the four metrics above is directly linked to the success of a

company's asset management program. The Best-in-Class enjoy less than a
tenth of the unscheduled downtime and 26% higher OEE when compared to
Laggards. In fact, Best-in-Class manufacturers reduced their maintenance
cost by 30%, hence under-spending the planned budget. These metrics show
that even in the face of reduced operational budgets the Best-in-Class are
saving money and improving performance. This results in improved return
on assets, and, the Best-in-Class actually outperform corporate expectations
by 20%. There are also additional benefits the Best-in-Class enjoy when
compared to Laggards:

2.9% versus 5.4% Asset Downtime Due to Safety or Environmental

Incident

15.1% versus -8.8% Operating Margin against Corporate Plan

-8.4% versus +3% Total Energy Consumption

2012 Aberdeen Group.

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Definition for the Key

Performance Indicators
Overall Equipment
Effectiveness (OEE):
Measured as a percentage by
multiplying availability times
performance times quality
Unscheduled Asset
Downtime: Measured as
the amount of unscheduled
time the asset is offline
against total asset availability
Maintenance Cost:
Measured as year over year
reduction in total
maintenance costs
Return on Asset (RoA):
Measured as the percentage
of return on asset (new
income/total asset) goal
achieved versus corporate
goal
Asset Downtime Due to
Safety or Environmental
Incident: Measured as
percentage of asset
downtime due to safety or
environmental incidents
Operating Margin versus
Corporate Plan: Defined
as the difference between
the actual operating margin
and budgeted operating
margin
Total Energy
Consumption: Measured
as the change in total energy
consumption year over year

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Asset Management: Building the Business Case for the Executive

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All of these benefits help executives in Best-in-Class organizations gain a

competitive advantage and improve both operational and financial
performance.

Best-in-Class Strategies
The top strategy adopted by the Best-in-Class is to utilize analytical tools to
plan out capital expenditures. This allows these leaders to predict their
maintenance and safety, reduce the overall risk in their operations, and even
forecast the eventual need for replacement of an existing asset and plan the
budget for its replacement (Figure 2).
Figure 2: Strategic Actions
Improve long term capital
planning with better
analytical tools

25%
16%
17%

Outsource maintenance
activities to third party

7%

Manage energy and

emissions as part of the
maintenance strategy

13%
4%
0%

Best-inClass
All Others

10%
20%
Percentage of Respondents, n = 140

30%

Source: Aberdeen Group, November 2012

The Best-in-Class companies are also twice as likely as their competitors to

find a third-party to supplement their own maintenance efforts, which could
be seen as a risky move since you are having someone else manage the
maintenance of your assets. However, as shown in the November 2012
Operational Risk Management report, leading companies leverage analytical
tools to gain better visibility into the risks within their operations.
With these risk tools, the Best-in-Class can accurately predict when
maintenance is needed and schedule lower-cost repairs before they are
needed, minimizing any downtime. Incorporating predictive maintenance
provides manufacturers the ability to reduce the on-staff maintenance team
to acceptable levels of risk based upon the risk profile of their assets. In a
cost-cutting environment, such a move could significantly reduce
maintenance costs.
As seen in Aberdeen's December 2011Enterprise Asset Management report
and again this year, the Best-in-Class are much more likely to incorporate
sustainability into their maintenance strategy. As more applications have the
2012 Aberdeen Group.
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"Creating and commissioning

technically complex assets in a
sophisticated regulatory
environment with high
stakeholder expectations is a
complex undertaking. Success
requires organizational
capability that can deal with the
inherent complexity whilst
avoiding risks to asset integrity,
so that the return on
investment is achieved in the
desired timeframe. During the
working life of the asset,
precision in operations and
maintenance is crucial in
making assets perform to the
ongoing expectations of the
business, in the presence of
variation and risk.
~Ian Gordon,
Corporate Manager,
Engineering Services Company

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Asset Management: Building the Business Case for the Executive

Page 5

ability to collect asset, energy, and emission information in a single

repository, the Best-in-Class have utilized this information to not only
better maintain their assets, but also minimize the overall energy
consumption of their facilities. Managing energy and emission as part of their
maintenance strategy puts these leaders in a better position to comply with
future regulations. What the Best-in-Class are more capable of, including
sustainability, will be explored in the next section.

Business Capabilities of the Best-in-Class

Companies operating in an asset intensive industry face two major
competing pressures. On one hand these organization attempt to operate in
a reduced operational and maintenance budget environment, while on the
other hand maximize Return on Assets (RoA). To address these opposing
market pressures, Best-in-Class companies have implemented a series of
business capabilities and technology enablers to drive the success of asset
management programs.
Figure 3: Process and Organizational Capabilities

Source: Aberdeen Group, November 2012

A successful asset management initiative requires organizations to balance

asset availability and utilization by improving among cross-functional teams.
However, enabling this collaboration has been a key challenge. The Best-inClass are more likely than their competitors to designate teams from
different functions in the organization to assess both risk and asset
performance. By combining multiple business functions, the Best-in-Class
are able to gain a holistic view into the various risks related to asset
management and understand the impact on corporate performance.

The largest challenge by far

has been cultural inertia in
what has been traditionally a
highly reactive approach. By
moving from a reactive to a
predictive environment, the
sites that have done the
changes have seen significant
improvements. For example,
we have increased capacity
utilization by about 20%,
decreased maintenance costs
by 25%, and reduced spare part
inventory by 20%.
~ Raymond Castle,
Manufacturing Manager, Global
Reliability Engineering

Maintenance, operations, and engineering groups have traditionally been

compensated on different goals, which often results in a roadblock to
2012 Aberdeen Group.
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Asset Management: Building the Business Case for the Executive

Page 6

collaboration between functional groups. The Best-in-Class address this

challenge by establishing goals that are aligned to foster a culture of
collaboration, especially amongst production and maintenance groups.
Certain critical assets require continuous monitoring processes and
advanced maintenance strategies, while non-critical equipment does not
need expensive techniques and tools. When maintenance and production
teams work together, they bring perspective from different functional
departments, and optimize production, inventory, and assets at an
enterprise level. At the same time, Best-in-Class companies define roles and
responsibilities across all levels of the organization in the case of adverse
events.
Such events occur even to the most prepared organizations, and the
difference between a catastrophic incident and an unplanned downtime is
having a contingency plan and controls in place. This is critical to reduce the
impact of an adverse event. Finally, the Best-in-Class budget for technology
and personnel to support Reliability Centered Maintenance (RCM) activities.
A RCM approach helps companies understand how critical the asset is and
decide whether to apply a break-fix, preventative, or condition-based
maintenance approach.

Knowledge and Performance Management Capabilities

Enabling predictive asset management processes requires timely access to
the right information in a form that enables employees to make effective
decisions. Organizations should focus on reducing the time required by
maintenance and reliability professionals to find this necessary information.
Figure 4: Knowledge and Performance Capabilities

Managing Assets and risk

means taking an enterprise
wide approach. The challenges
are predominately cultural,
rather than technical. Focusing
on strong data and process
governance and cross business
collaboration is key. The
challenge is having the discipline
to follow any new process
implemented, to embed a
culture that values data and risk
management. It is also
important to understand the
socio-technical impact of any
change being made prior to
implementation."
~Manager,
Risk Management,
Water Treatment

Source: Aberdeen Group, November 2012

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Asset Management: Building the Business Case for the Executive

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The Best-in-Class companies first collect all of their asset information from
different plants and store it in a centralized knowledge warehouse. In doing
so, they remove this information from individual data sources (such as excel
spreadsheets and access databases located on personal computers) and have
a single repository for data collection. In addition, the Best-in-Class also
provide historical and real-time asset data for intelligent decision making.
By having robust data like this at hand, manufacturers can see how a
particular asset has historically performed and compare that to how it is
running in real-time. This is crucial in determining whether an asset is
running at its peak or if maintenance is needed. In addition, by using trending
data, companies are able to predict adverse events. Best-in-Class companies
provide this information on-demand, thus enabling easier information
access, which reduces unscheduled downtime and improves asset
performance. All of these capabilities are needed for manufacturers to
move from a reactive, break-fix methodology to a predictive maintenance
strategy.

Sustainability Business Capabilities

Reducing energy utilization is an untapped resource in both the quest for
profits and social responsibility. The Best-in-Class are more likely than their
competitors to integrate energy management with their overall asset
management program. This means that they collect energy, emissions, and
asset data in a single repository and provide this information to key decision
makers.
Table 2: Sustainability Linked to Asset Management
Best-inClass

Industry
Average

Laggards

Asset data utilized to minimize energy consumption

56%

44%

23%

Benchmark the performance of each asset to determine the cost of maintaining

versus replacing it with a newer, more energy efficient asset.

55%

35%

22%

Energy management integrated with overall asset management strategy

42%

33%

31%

Sustainability Capability

Source: Aberdeen Group, November 2012

Investing in technologies to gather asset and energy data has enabled the
Best-in-Class to benchmark asset performance and determine the cost of
maintaining versus replacing the asset for a newer, more energy efficient
version. For example, if there is a compressor that uses more energy than
expected, with the help of the available data, the plant manager can schedule
maintenance to understand the spike in energy consumption and establish
corrective action to optimize productivity and reduce energy utilization.
Through these capabilities, the Best-in-Class see a decrease in total energy
consumption of 9% as compared to Laggards who experienced a 3%
increase year over year.

2012 Aberdeen Group.

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Asset Management: Building the Business Case for the Executive

Page 8

Technology Enablers
Technology adoption is an important step for implementing an asset
management strategy. The Best-in-Class are more invested in software
solutions to automate business process as well as knowledge- and
performance-management capabilities. The Best-in-Class are also more
likely than their competitors to invest in an Enterprise Asset Management
(EAM) solution. An EAM system provides a single platform for connecting
workers, assets, processes, knowledge, and decision-making capabilities
based on collected information.
EAM solutions provide a core set of functionality to manage work orders,
materials, spare parts, employee data, procurement, and maintenance
schedules on a single platform. In short, EAM provides a holistic view of a
company's asset base, empowering managers to control and improve the
quality, safety, and efficiency of their operations.
However, adoption of EAM is just the first step. To realize Best-in-Class
performance, companies also need to integrate their EAM solution with
their other technology investments (Figure 5). One of the roadblocks to
this process is manufacturer adoption of technology applications that
function independently.
Figure 5: Interoperability with EAM System
Implementation and
internalizing Predictive
Maintenance Technologies plus
providing a means of
communicating results of
analysis to all parties are
designed to anticipate and
mitigate failures, thus reducing
risk of loss of function and noncompliance with environmental
regulations. Cost avoidance and
avoidance of failures became
obvious right from the start of
this initiative. RCM analysis is
being done on the most critical
assets. However,
implementation of results is
encountering roadblocks at the
deck plate level."
Source: Aberdeen Group, November 2012

An integrated solution offers enterprise-wide visibility into the complete

asset lifecycle, from the design phase to the final decommissioning of the
asset. Integration lets manufacturers connect their maintenance application
with high-level business systems, such as ERP, which in turn results in
increased responsiveness and an ability to make quick and intelligent
maintenance and asset decisions.
2012 Aberdeen Group.
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~Maintenance Consultant
Industrial Equipment
Manufacturer

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Asset Management: Building the Business Case for the Executive

Page 9

Interestingly, the Best-in-Class differentiate themselves by connecting their

EAM systems to their sustainability systems (i.e. EH&S and energy
management solutions). As companies become more sensitive to ensuring
compliance, this integration ensures that personnel and assets do not
operate in unsafe conditions.
In addition, the integration between EAM and Management of Change
(MOC) is critical in the process industry, where a change in operating
procedures could cascade into an adverse event. Such a situation could
occur if say, a plant manager decides to run an asset seven hours longer
than usual, thus bringing the asset to dangerous temperatures.
Interoperation between EAM and MOC systems ensures that everyone
involved in the requested change can appropriately discuss, approve,
communicate and implement the change.
An integrated solution offers enterprise-wide visibility of the complete asset
lifecycle, from the design phase straight through to the final disposition. The
integration allows companies to streamline maintenance operations through
better planning and scheduling of production and maintenance tasks.
Integration also allows companies to connect their maintenance application
with higher-level business systems more easily which in turn results in
increased responsiveness and an ability to make quick and intelligent asset
management decisions.
In addition to the enterprise wide solutions it is important to understand
the core functionalities that need to be adopted to achieve Best-in-Class
performance (Figure 6).
Figure 6: Technology Enablers

Source: Aberdeen Group, November 2012

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Asset Management: Building the Business Case for the Executive

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At the highest level, the Best-in-Class are more likely than their competitors
to adopt Master Data Management (MDM) solutions, otherwise known as
"Big Data." Big Data has been a reality in the manufacturing world for quite
some time, considering the wealth of information collected from the
manufacturing facility on a daily basis.
In asset management, data is collected from multiple sources, such as the
actual controller, sub-meters, data historians, and paper-based system.
MDM is used by the Best-in-Class to eliminate duplicate data points, scrub
out incorrect data, and standardize the information (such as supplier,
equipment, audit data, etc.) into an authoritative master data source. This
ensures the collected data is accurate and reliable, which is vital for proper
decision-making.
Once the data is stored in a single repository, the Best-in-Class are able to
put context around the information by utilizing asset dashboards, workflows
and analytics to be more predictive in their maintenance and asset
strategies. These modules automate data collection, analyze and monitor
data, and automatically escalate adverse events to appropriate decision
makers at the right time, in the right format, to prevent or reduce the
impact of equipment failure.

The Use of Mobility

While Best-in-Class companies are more likely to invest in asset
management solutions, they are also more likely to empower their
employees with mobility tools. Overall, the adoption of mobility in
manufacturing has been slow, to the say the least, but where Aberdeen is
seeing the largest adoption of mobility solutions is in asset management.
The Best-in-Class lead the charge in this technology adoption and are more
likely to use mobility to allow their operators to access asset condition
information while on the job (Figure 7). Mobile technology lets operators
view relevant data in real time. As a result of this increased access,
operators are better equipped to service assets when they need
maintenance, repair, or inspection.

2012 Aberdeen Group.

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Asset Management: Building the Business Case for the Executive

Page 11

Figure 7: Mobility Gaining Ground

Source: Aberdeen Group, November 2012

In addition, mobility can be employed to improve change request

management. Traditionally, change management relies on an outdated,
paper-based system. This process is burdensome because technicians must
travel back-and-forth between work sites and the dispatch center for new
assignments. There is also a heightened risk of error with this system
because there is no guarantee that the information will be entered into the
database. With mobility, workers can receive their assignments in the field,
spend more time working, and create work orders right on their devices.
Providing mobile devices to field workers lets them input data automatically,
access pending work orders, track repairs, and perform other critical tasks
that traditionally required a trip to a work station. These tools are essential
in many industries, like Oil and Gas, Utilities, and Mining, where work
stations are not easily accessible. Best-in-Class companies are over 2.5-times
more likely to use mobile devices while making their maintenance rounds.
Improved data capturing allows for better analysis and evaluation and, as a
result, the Best-in-Class are rapidly embracing mobile technology

Key Takeaways
With the tightening of budgets, managers are being asked to do more with
less. Because of this, it is not easy to procure funding to start or improve
upon an asset management program. However, the operational and financial
gains that stem from a proper management system well outweigh the
investment needed. By implementing a program centered on reliability and
predictive maintenance, companies will be able to gain visibility, improve
efficiency, and ultimately save money.

2012 Aberdeen Group.

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Asset Management: Building the Business Case for the Executive

Page 12

Aberdeen recommends the following actions to companies looking to

improve their asset management initiative:

Foster a culture of collaboration across functional teams.

To establish effective asset management processes it is important to
have functional teams such as operations, maintenance, and safety to
work hand in hand in understanding how asset management impacts
these areas. Collaboration is probably one of the biggest roadblocks
toward realizing Best-in-Class performance.

Enable real time visibility into asset data. Moving from a

reactive to predictive asset management processes requires
employees to have real-time visibility into asset data as well as
historic information related to the assets. Manufacturers that have
not done so should invest in MDM and analytics to provide visibility
to appropriate decision makers.

Utilize dashboards and analytics to make more intelligent

decisions. To truly understand the value of asset and production
data and enable effective and timely decisions, the Best-in-Class are
more likely to invest in asset dashboards and analytics. These
applications help reduce the overwhelming load of real-time events
and automate the monitoring and analysis of critical indicators that
impact performance.

Adopt mobile technology in your operations. Empower

employees with mobile devices that are integrated with asset
management solutions. Adoption of mobility solutions for asset
management will reduce errors caused by manual data entry during
routine operator rounds and will enable employees to initiate work
orders without having to go to their work stations.

Realize the link between sustainability and asset

management. In order to operate in a budget constrained
environment, it is critical to squeeze cost out of each and every part
of the operation. To reduce energy consumption, the Best-in-Class
integrate their energy- and asset-management strategies. That way
decision makers can determine if an asset should be kept or
replaced with a newer, more energy efficient one. A reduction of
even a small percentage in energy consumption can result in millions
of dollars saved.

Invest in an Enterprise Asset Management (EAM) system. If

you have not done so, invest in an EAM system. An EAM system is
critical for driving visibility across the lifecycle, providing
stakeholders with relevant information at the right time and giving
rich information to make effective choices to decision-makers
across maintenance, engineering, operations, procurement, and
finance departments. Investing in an EAM system will be an
important step for companies planning to realize Best-in-Class
performance.

2012 Aberdeen Group.

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Asset Management: Building the Business Case for the Executive

Page 13

Establish integration between EAM and the plant floor as

well as business systems. Having a holistic view is vital to
managing a company's assets effectively. Integration allows
manufacturers to connect maintenance applications with plant
applications and higher-level business systems more easily, which in
turn results in increasing responsiveness and the ability to make
quick and intelligent asset management decisions. Best-in-Class
companies are establishing real-time interoperability between EAM
systems and EH&S, ERP, MOC, energy management, and mobility
applications.

For more information on this or other research topics, please visit

www.aberdeen.com.

2012 Aberdeen Group.

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Asset Management: Building the Business Case for the Executive

Page 14

Related Research
Operational Risk Management: Getting
Ahead of the Risk Curve; November
2012
Enterprise Asset Management 2012: A
Data Driven Predictive Approach to
Maintenance; December 2011

Operational Risk Management; October

2011
The Role of Software in Asset
Performance Management: Reduce
maintenance cost, downtime and safety
incidents; October 2010

Author: Nuris Ismail, Research Analyst, Manufacturing,

(nuris.ismail@aberdeen.com); Reid Paquin, Research Associate, Manufacturing
(Reid.Paquin@aberdeen.com)
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This document is the result of primary research performed by Aberdeen Group. Aberdeen Group's methodologies
provide for objective fact-based research and represent the best analysis available at the time of publication. Unless
otherwise noted, the entire contents of this publication are copyrighted by Aberdeen Group, Inc. and may not be
reproduced, distributed, archived, or transmitted in any form or by any means without prior written consent by
Aberdeen Group, Inc. (2012a)

2012 Aberdeen Group.

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