Key Performance Indicators are the magnifying glass of the senior management. There are many indicators you can measure but to be smart you need to select the key ones that reflect the performance level. As indicated in asset management ISO 55000, doing measures where you align your business objectives with stakeholders’ values. Also, when you setup the indicators, you need to consider the Lagging Vs. Leading Indicators: the lagging is “what” performance has been while the leading is “How” performance direction.
Effective KPIs of maintenance and reliability department?
Reactive work orders Open Vs. Closed: To measure the performance of maintenance trades
Downtime hours of the process assets: to measure the assets availability and business impact
Overdue Regulatory CAPAs and QNs
Inventory Turn of the spare parts: To measure the parts consumption level vs sitting on shelf
Mean Time Between Failure “MTBF”: To measure the asset reliability and failure rate calculation
Significant Failure codes of the assets of the year
On Time Delivery “OTD” of PM/ PMCAL completion: That is an audit Question! to confirm completing the PM/ PMCAL within the grace period and no overdue for the maintenance task, and if there is overdue % impact risk should be assessed.
On time delivery “OTD” of bio-process asset is not an easy task, as it needs a data analyst or reliability engineer who analyses the data and categorizes the lack of completion RCA.
KPI’s pitfall is outsourcing too much hours in running massive indicators in order to show senior management leaders a good performance, however this is a time consuming for both. Considering the financial and regulatory business goals are important.