The Maintenance Scorecard Introduction
Some people make the future; most wait for
the future to make them.
The Growing Strategic Importance of Maintenance
years of 2003 and 2004 have been watermark years for the importance of physical
asset management. During this period there were numerous events throughout the
world that have highlighted the importance that this activity has at a
corporate level. However four events in particular have had effects that continue
reverberating throughout the world.
The disaster of the
space shuttle Columbia
In August of 2003 New York was struck by a power outage, a failure of physical assets that caused thousands
of people to be stranded and left it without power for over 24 hours. This was followed
shortly after by similar but briefer outages in the United Kingdom and Italy.
Four charges of
manslaughter were dropped in August of 2004. These were placed on people in
charge of maintaining or managing the railways in the United Kingdom in relation to the Hatfield train disaster. They included the ex-CEO of the
company that owned the asset base. This has reinvigorated the debate in that
country regarding “corporate killing.”
legislation in Canada to impose criminal liability on businesses and
individuals in the event of workplace accidents.
reaction to these dramatic events has been the culmination of decades of change
in the area of asset management. Even in the most cavalier of boardrooms, more
attention is being drawn to asset management as an area where corporate risk
exposure can be managed, as well as a source of substantial strategic advantages.
a corporate level risk can mean many things. It may mean reducing the variability
of income, reducing the corporate exposure to legislation or reducing the
likelihood of catastrophic events. From an asset management perspective, risk
tends to reflect concerns about exposure to incidents in the areas of safety or
environmental damage and the potential for punitive measures in legal and