Asset Prioritization




Where does MTA fit into the overall reliability initiative ?


Asset prioritization is an essential part of the up-front strategic planning required to ensure the success of a reliability initiative.


This methodology helps rate assets with respect to the impact of their failure and their reliability on your business objectives. Both values are essential when managing work order backlogs and asset performance gaps as well as developing an enterprise wide reliability strategy.


The First Step - Asset Prioritization & Risk Profile Selection
First decide which reliability strategy to deploy through Asset Prioritization and Risk Profile Selection, as shown in the above diagram.
What is Asset Prioritization & Risk Profile Selection ?

The Asset Prioritization methodology is a focusing tool to tailor a reliability initiative to your business environment.

It involves:

  • Working with management to develop criteria that define the consequences and the probability of asset failure.
  • Establishing your risk tolerance levels.
  • Applying the resulting guidelines to rank your assets.