10 Powerful Insights on Asset Management
Reliability, risk management, resilience, strategic plans, implementation plans, practice reviews, and data analytics shape asset management.
What’s hot in asset management in 2024 and how do they shape 2025? The insights provided each month on our website provide a good snapshot. Read a few of the ten insights and let us know your thoughts. We trust that you will find them helpful.
The Sources of Our Insights
The insights are based on the most interesting people and topics we encountered in our travels. For the most part, travels include JD Solomon Solutions’ consulting assignments. In some cases, the source of the insight is related to the follow-up conversations from a workshop or webinar.
As a lean, niche company, we tend to “see it, reflect on it, write about it.” It’s fun to see what has inspired us over the course of a year.
What’s In Asset Management?
JD Solomon Solutions brands itself in asset management (including reliability, risk, and operational resilience), program development, and facilitation.
Our asset management services include strategic plans, implementation plans, practice reviews, and a full cadre of offerings related to reliability, risk management, and resilience. Our goal is to maximize the efficiency and effectiveness of their integrated use — to maximize their value, minimize their waste, and meet compliance, safety, and security objectives.
Visit our Asset Management page for more information.
10 Helpful Insights on Asset Management from 2024
This is our list from December 2023 through November 2024.
Using Design of Experiments to Sort Through Randomness (and the perception of “best”)
Design of Experiments is a tool for gaining deeper insights into how input factors influence outcomes. Confounding factors can create a false impression of causation. Asset managers, reliability engineers, data analysts, and other technologists are well served by sorting through randomness and not taking “best” at face value.
Understanding How to Apply Redundancy to Facilities and Critical Infrastructure
Redundancy in facilities and critical infrastructure is often misunderstood as simply having two of something. It is one of several approaches to preventing system failures and comes with several key tradeoffs. Included are four key aspects, or the four horsemen, of redundancy.
What Are the New Asset Management Challenges Over the Next 5 Years?
Making predictions in the face of uncertainty is what every business and aspiring young asset management professional must do to be successful. So, what are the new asset management challenges over the next five years? These are ours.
What’s the Difference in Criticality and Risk in Your Asset Management Program?
One common misconception is to equate criticality and risk. Criticality is more general, and risk applies more granularly. This insight discusses the differences and how both are used in asset management programs.
Asset Management: When to Apply a Risk Matrix or Monte Carlo Analysis
Jab with the risk matrix and throw a heavy punch with Monte Carlo analysis. The two tools provide a powerful 1–2 punch when it comes to asset management.
A 5-Year Autopsy: 2019 Asset Management and Reliability Predictions, Then and Now
In 2019, I predicted five asset management and reliability trends. How did I do? in this case, the best test of the prediction was that I was about to launch JD Solomon, Inc. — in other words, putting my money where my mouth was.
Reliability, Availability, or Dependability? Why Dependability Matters Most
Reliability, availability, and dependability all matter. In practice, dependability matters most. Key definitions and comparative discussion are provided.
How Do You Define Reliability? (and a case example from Tampa)
Properly evaluating reliability resolves risk, safety, quality, compliance, and human performance. Reliability also frames a powerful and effective systems approach instead of leaving gaps by cobbling together individual assets and components. These are a few fundamentals of reliability and a case application of why it matters.
How Context Matters in Successful Asset Management Implementation
Context matters when it comes to successful asset management implementation. Continually re-checking organizational context is one essential step. This insight provides examples, tips, and five ways to evaluate the context consistently.
Will Developing Your Strategic Asset Management Plan Fail? Here Are 10 Ways
Asset Management Plans can fail under their own weight in development. Even worse, the plans often fail in development, but the shortcomings are masked by completing the paperwork. Two case studies and the top 10 things to avoid are provided.
Let Us Know What You Think
Please give us your thoughts on topics we covered in 2024. Did what we saw and inspired us this year match your experience? Do you agree with the content of our insights?
The post first appeared on www.jdsolomonsolutions.com
JD Solomon Inc. provides solutions for program development, asset management, and facilitation at the nexus of facilities, infrastructure, and the environment. Visit our Asset Management page for more information related reliability, risk management, resilience, and other asset management services. Subscribe for bi-monthly updates related to our firm.
