Understanding the “Impact” Cost of Reliability and Maintenance – A Terry Wireman Blog When considering the impact costs, consider this scenario: A production plant in a sold out condition. Everything that can possibly be manufactured is being sold to customer. If a production line or critical piece of equipment fails (unreliability) during the production run, the production is halted until … Read More
The Role of Maintenance in Asset Management – A Terry Wireman Blog If your organization calculates return on fixed assets, you should be aware of the impact maintenance has on that indicator. The investment a company makes in its assets often is measured against the profits the company generates. This measure is called return on fixed assets (ROFA). This indicator … Read More
Return on Investment – People or Technology? When we are making an investment in any type of improvement program, there is usually a return on investment calculation that is provided to executive management to secure the funding for the project. The investment is usually straightforward to calculate – but what about the return? When we are making an investment in … Read More
Terry Wireman – A Retirement Retrospective Since I started in the maintenance field in the late 1960’s, maintenance has always been viewed as a necessary evil, an overhead, or expense function. Organizations have never learned to view maintenance as an “profit center”. This was true even though systems engineering courses taught that maintenance was necessary and the maintenance cost was … Read More
Tips and Tricks: SuccessFactors to Outlook Integration for Interview Scheduling The SuccessFactors Recruiting Management module provides the option to integrate with Microsoft Outlook Calendar to schedule interviews directly. This feature can be enabled by completing the following steps: Step 1: Enable “Outlook Calendar Integration” in Admin Center > Company System and Logo Settings Step 2: Grant permissions to recruiting users … Read More
/N SPRO to Present at the 2017 SAPPHIRE & ASUG Conference with The Home Depot Join Brian Cederborg, /N SPRO’s Vice President of Retail & Wholesale at this year’s Sapphire & ASUG Conference taking place at the Orange County Convention Center, as he co-presents with Dan Ratchford, The Home Depot’s Director of IT. Together they will be presenting “How The … Read More
/N SPRO Named as Top SME Employer in Canada for Third Consecutive Year MONTRÉAL – April 25, 2017: /N SPRO Inc. is proud to be recognized for the third consecutive year as one of the Top 100 Small & Medium Employers in Canada. The 2017 winners were announced this morning and the list showcases the nation’s most innovative and forward-thinking SMEs, and … Read More
What measurements drive your actions? If you’re like me, you are constantly measuring all aspects of your daily activities. Did I clear my “to do” list by the end of the day? How many connections do I have on LinkedIn? Did I hit my exercise goals for the week? Did I meet expectations, exceed expectations or do I still need improvement? Probably yes, yes and yes. We use these metrics to determine success in all areas of our life. These metrics are no different for the companies we work with. Most of you are probably familiar with the frequently mentioned mantras such as “What gets measured gets done” or “Measure what matters”. There is some truth in these popular sayings, but how we use these “measures” is what truly drives results. Since projects or initiatives make up a significant part of what we do, it’s important to have appropriate quantitative and qualitative measures that tie to the overall objectives, to ensure we stay on track and realize the project goals. We are wired to keep score Perhaps the easiest way to accomplish score keeping is by using numeric data to track our achievements. Using visual representations to show progress in a team environment for tasks, milestones or timelines can be a very effective way to highlight the status of a project. It is important to show progress; it provides motivation, boosts team morale and keeps focus on the work in front of the team. However, while it is important to understand the number of tasks or activities that have been completed or where we are on the project timeline, this could be misleading. If progress is being made at the expense of quality, we may need to rethink our approach. Measuring the quality of the work being delivered provides a more complete perspective on the state of the project. Quality does not necessarily equate to qualitative measures. This is important as well, but we will leave that for another post. Just because we are tracking quality doesn’t mean we can’t use quantitative measures. It is important to include hard statistics to manage the accuracy and completeness of deliverables across all phases of the project. If the solutions are not complete, simply don’t meet the business requirements or the rate of defects is too high, it will lead to extended timelines and increased costs (even if the timeline may show the tasks as being completed). Quality should be the cornerstone that holds our projects together and defines how our work will be perceived. If not, we may just be throwing money down the drain! Show Me the Money When we talk about project metrics, there may not be a more visible measure than the budget. This is the one area that the executives and sponsors will scrutinize more than any other. Sure, they want the project to be completed on time but in most cases this is really an exercise in cost containment. After all, we have been conditioned to equate […]
Terry Wireman – In reviewing some of the texts on my bookshelf, I pulled down “8 Patterns of Highly Effective Entrepreneurs” By Brent Bowers. Thumbing through the text, I remember that I always felt pattern # 6 – “A Natural High” should apply to many people in the maintenance, reliability, asset management, or EAM community. […]
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