Risk Assessment for Assets in Manage - IBM Maximo Application Suite (ISO 31000 Alignment). 

In Manage, as in Maximo 7.X, you can create wonderful applications that allow Asset Management experts to unleash their imaginations in functional processes...and of course, our IT friends can also demonstrate their skills in customizing Manage to score a goal with the organization.

Next I will show you what I have explained above, something wonderful taking shape to achieve alignment with standards such as ISO55000 and ISO31000, this process will become part of the static data of the assets (ISO14224), as long as you do not change them again due to modifications in the conditions or changes in risk aspects in the organization ... which we know usually happens, from time to time a risk review must be carried out and subsequently re-consider whether we should evaluate again. (so it is something like static and dynamic data for ISO14224 :P ).

Before starting, remember that the procedure outlined in the ISO31000 Risk Management standard is very clear regarding the Risk Management process.

The main stages:
1. Establishing the context.
Risk Assessment subprocess.
2. Risk identification.
3. Risk analysis.
4. Risk treatment.

Each of these stages consists of "communication and consultation" and must also be monitored and reviewed.

having said that!

let's go!

The application was required in Assets, as it is directly related to them. The first step was to define how the risk calculation would be expressed as an impact on asset maintenance. We observed that some assets would receive a much higher risk assessment, thus increasing the impact on the organization. This clearly led us to assign a criticality value calculated based on risk.

This criticality can then be associated with the asset's priority, which is subsequently evaluated against the priority of the intervention or maintenance event taking place, allowing us to obtain a clear view from a maintenance planning and scheduling perspective.

and then...

Risk aspects.

Next, we will discuss the different risk aspects considered by the organization as key aspects to evaluate due to their significant impact if the asset occurs.

The defined aspects:

• Environment.
• Health and safety.
• Production.
• Company image.
• Maintenance.

and then...

Probability of occurrence.

Then we have the probability of occurrence, where we must indicate which one corresponds to the knowledge we have of the asset.

Impact Selection.

Some impact selections may contain costs related to the type of aspect being evaluated. These could be divided into cost intervals, allowing for a much clearer classification. It should be noted that many times this will be an approximation because it is being established without the impact necessarily having occurred beforehand.

and then...

Evaluation obtained from the risks.

Evaluation obtained from the risks, each of the evaluated aspects will have a weighting, this is because functionally there is a matrix that allows us to identify where each of the evaluated risks is located. Your organization may have (5 x 5), (4 x 4) or more, or even if we want to complicate or rather the asset is highly complex, they can be three-dimensional matrices. I leave it to your organization; I'm just telling you that Manage allows you to develop.

and then...

Criticality of the asset obtained by the risk assessment.

Yes, obtained based on the risk assessment. This is how it has been defined in this organization. You have the opportunity to define other methods according to your organization's standards or as defined by your functional or technical department.

and then.....

All of this has to have a representation that I can use, right?.

Yes, it does.

The criticality obtained based on the risk assessment is represented directly proportional to the priority of the asset in the organization, this means that a relationship has been designed based on the value obtained through intervals to subject a prioritization of 4 values:

Based on this definition, we already have our functional part and the part that must be configured in the system, so nice and useful.

and theeeeeeeennnnn...

The wonder of response times, thanks to the calculated priority based on criticality, which was also based on risk assessment.

There's one step missing, which means this for the operation. The most useful translation for programmers is something that gives them the input to know when to respond to and prioritize maintenance interventions or events on these assets. This is how priority-based response times are born, which in turn are based on asset criticality analysis based on risk assessment.

Range	Color	Priority	Response time
20-25	Red	1 Urgent	Less than an hour.
10-16	Orange	2 High	Less than 72 hours.
5-9	Yellow	3 Medium	Less than 4 weeks.
1-4	Green	Low...low low	Less than 8 weeks.

Remember that each organization, with its maintenance and asset management experts, can define the best way to operate in alignment with organizational objectives.

Asset management objectives arise directly from the organization's objectives, so everything will be in sync without having to copy something you saw elsewhere. So use this as a reference, don't copy it; define it from your Strategic Asset Management Plan.

and then, and then, and then, and then, and theeeeeeen. That's all, see you soon.

Let me know if you've done anything awesome with Maximo regarding Risk-based customizations.

I wish you the best and...regards

David Iñiguez.

Master in Asset Management.