The potential impact of unscheduled equipment downtime is front-of-mind for facility managers across sectors, especially when that equipment is business critical. For facilities professionals, the ability to accurately assess the probability and impact of failure is critical to the planning of preventative measures.
In this article we’re going to take a look at how predictive monitoring can play a critical role in increasing component life and availability, driving energy savings, and improving worker and environmental safety. We’ll also look at how Cushman & Wakefield’s FM Scan assessment offering can help facilities professionals better assess their operations and reduce risks.
Assessing Impact and Probability of Failure
At the heart of their role, facility managers are tasked with ensuring facility availability and utilities continuity are at an optimal level, all while minimizing operational costs. Anything that gets in the way of achieving this can be termed a facility risk, risks which are compounded by impact and probability. Both of these factors, impact and probability, can be calculated through assessment of services to create a set of scores.
To calculate an impact score, or the severity of the effects of failure, multiply a resilience score with a business criticality score.
To calculate the probability score, or the likelihood of failure, multiply a condition score with an age score and a count of the spares available.
Collecting these fundamental scores is an essential benefit provided by predictive monitoring services like FM Scan. With them, facility managers can make the case for proactive maintenance to stakeholders through a risk matrix:
Who Can Benefit?
Every sector can benefit from proactive maintenance strategies. The main variables are what are the depth of technology and scale of proactive services required. The Cushman & Wakefield approach to proactive maintenance makes it possible to perform maintenance only when necessary based on gathered maintenance data. More systematic elements of a maintenance program are addressed, rather than machines themselves, when organizations implement proactive maintenance. This program allows organizations to become empowered to:
- Identify the root causes of machine failure
- Resolve problems before they become failures
- Extend the life of machinery and reduce downtime as a result of machine failure
Collecting initial data, tracking ongoing trends and analyzing data to act after fault indications are found are the cornerstones of proactive maintenance. Our proactive maintenance programs are supported by a computerized maintenance management system (CMMS), integrated data, condition monitoring, and connected tools and sensors. By calibrating the right level of predictive maintenance to meet the client’s and facility’s requirement, FM specialists ensure that the right technologies are brought to bear in order to carry out an effective assessment.
Keys to implementation success are:
- A focus on failure modes
- Buy-in from leadership
- Technologies selection
- Skills enhancement
How to Measure Proactive Maintenance Success
Key to achieving a healthy return on investment from proactive maintenance is building out a strong process. Predictive monitoring plays a key part in this process, however there are a range of other business and facilities-specific steps that need to be taken.
At a basic level that process can be laid out in the following 10 steps:
- Develop an asset registry
- Assess performance failure mode
- Determine residual life
- Determine life cycle replacement cost
- Set target level of services
- Develop business risk (criticality)
- Optimize O&M investment
- Optimize capital investment
- Determine funding strategy
- Build an strategic maintenance plan
Where Does Facility Scan Fit In?
Facility Scan offers an external assessment of facilities management which can help clients demonstrate that they are managing an effective and efficient service, as well as focus their attention on services that need more in-depth assessment and action taken. Typically carried out over 5 to 10 days, FM Scan covers the full range of facility services and enables users to select which services they want to assess moving forward. The process includes:
- Verification of all items on an equipment asset register
- Analysis of historical breakdown information
- Review of capital replacement requirements and schedule
- Revision of the existing maintenance regime
- Calculation of ongoing maintenance costs
- Evaluation of critical spares requirements
- Detailed equipment life plans
Equipped with this information, facility managers are empowered to identify key performance measures, reduce real estate risks and costs, improve efficiency, and ultimately improve service levels.
To find out more about Facility Scan and book in an assessment, contact Ho Chee Kit today on +65 6876 6178 or email email@example.com.