How IBM Maximo supports effective implementation of ISO 55001

The International Organization for Standardization (ISO) has developed a universal framework for managing the use of assets – ISO 55001. The asset management standard serves as a guideline for organizations to optimize the lifetime value of their assets. In this post, we shall outline the scope and reach of the standard and how IBM Maximo can help establish an effective asset management system as per the guidelines prescribed by the ISO 55001 standard.

The ISO 55001 prescribes seven major aspects for an organization for it to be effective. These include:

1. Context of the Organization
This refers to the various factors that could have a major influence on the organizational policy towards asset management.

ISO 55001 prescribed measures How Maximo can help
  • External and internal environmental and regulatory factors
  • Stakeholder expectation management
  • Development of a Strategic Asset Management Plan (SAMP)
  •  Scope definition – Creation of asset management register
  • Risk Management
  • Process definition and procedures
  • Built-in formal structure for identification and management of asset-related risks
  • Reporting of asset failure by individual asset and by asset type
  • Workflow engine to model risk assessment reviews and authorization processes
  • Risk assessment calculation comprising consequences, likelihood, severity, risk ranking, risk-based priority, mitigated risk ranking and mitigated priority to help users assess overall risk.


2. Leadership
Roles and responsibilities of the top management.

ISO 55001 prescribed measures How Maximo can help
  • ISO 55001 stipulates the top management to ensure
  • Compatibility and alignment between organizational and asset management goals
  • Cultivation and support of a culture of collaboration and continual improvement
  • Timely availability of right resources
  • Establishment, communication and documentation of asset management policy and ensure organizational-wide availability
  • Assignment of responsibility for the planning, establishment, implementation and performance monitoring of the AMS
  • Maintenance and updation of SAMP
  • Demonstration of risk management and continual improvement measures undertaken
  •  Ability to configure and re-configure key business processes (in a controlled way) allows users to achieve alignment with company’s asset management strategy and policies – be it capital investment, operations, maintenance or contracting


3. Planning
Achieving asset management objectives, risk and stakeholder management throughout the asset lifecycle.

ISO 55001 prescribed measures How Maximo can help
  • Development of a Strategic Asset Management Plan (SAMP) listing the asset management objectives, in line with the organizational objectives
  • Risk appetite identification and management, stakeholders’ expectation management, information and resource requirements.
  • Ability to integrate with external systems, such as IBM Maximo Enterprise Adapter, IBM WebSphere® software, and IBM service-oriented architecture components, provides ‘single version of the truth’ for all asset-related information
  • Ability to maintain visibility and consistency while configuring key processes to specific requirements


4. Support
Resources and competencies needed to produce the intended asset performance in the organization.

ISO 55001 prescribed measures How Maximo can help
  • Resource Gap Analysis and training
  • Information sharing and documentation control
  • Organizational learning capabilities to better manage labor skills and resource provisioning
  • Ability to capture the environmental context, history, scenario and experience across operations, maintenance and engineering domains
  • Integrated workflow capabilities and worldwide multi-lingual system availability drives user adoption


5. Operation
Measure the effectiveness of the AMS.

ISO 55001 prescribed measures How Maximo can help
  • Change management implementation and communication
  • Outsourcing – Responsibility, documentation, performance monitoring and control


  • Support for asset management enablers and controls including
  • Tactical planning, development, management of schedules and resource allocation
  • Asset configuration, calibration and maintenance
  • Spare parts management
  • Maintenance, inspection and testing of systems and equipment
  • Change management and risk mitigation
  • Availability of standard or user-defined KPIs combined with role-based management dashboard capabilities
  • Support for outsourcing requirements like service desk, service request tracking, and service-level agreement management with contracting and billing.


6. Performance Evaluation
Evaluate actual performance of the AMS against the desired objectives

ISO 55001 prescribed measures How Maximo can help
  • Development of performance indicators – Quantitative, qualitative, financial or non-financial
  • Evaluation and reporting of risk and opportunities management process
  • Need for internal audits and management reviews to identify improvement areas and documentation of such reviews
  • Regulatory compliance support and report generation
  • Identification and association of asset job plans and work orders against applicable regulations reducing compliance cost
  • Support for asset monitoring, assessment and improvement
  • Identification of performance failure, incident management, defect elimination and management of change capabilities.
  • Linked set of incident, problem and change management applications to support incident identification, problem allocation for investigation and management of changes to assets or procedures


7. Improvement
Need for continuous improvement of the AMS

ISO 55001 prescribed measures How Maximo can help
  • Identification of non-conformities and corrective action measures that need to be undertaken
  • Establishment and maintenance of a preventive action procedure to proactively identify potential failures
  • Development of a clear methodology that delivers continuous improvement of the AMS
  • Development of an implementation methodology to support to ensure support of asset management objectives


Use ISO 55001 to develop a comprehensive asset management system which will help meet regulatory requirements, achieve business goals and optimize the value of your assets. To know more on how we can help you implement IBM Maximo as per the ISO 55001 framework in your organization, contact us at


Leverage IIoT to improve asset performance

As organizations recognize the significance of asset maintenance and its impact on the bottom line, companies are increasingly incorporating asset management in their strategic initiatives. The shift from a reactive culture has asset managers seeking opportunities to proactively contribute to the operational and strategic goals of the business.

Asset Maintenance and Industrial IoT
The maintenance maturity model[1] proposed by the ARC advisory group shows how maintenance strategies can yield higher business benefits as one progresses further along the maintenance continuum. Ralph Rio says that users who moved from preventive to predictive to prescriptive maintenance have reported 50 percent savings in maintenance labor and MRO materials.[2] Better and effective maintenance strategies help improve operational efficiency, prevent equipment downtime, and extend the life of the asset. The ripple effect of such maintenance strategies also has other intangible benefits like improved quality, customer satisfaction and safety. For instance, if the frequency of breakdown in certain machinery is high, then this could also turn out to be a safety issue and would necessitate precautionary measures.

Industrial IoT (IIoT) combined with analytics is the key to maximizing asset productivity and process efficiency. Analytics convert raw machine data into actionable intelligence enabling proactive maintenance execution and increased asset reliability. The number and variety of parameters that is monitored increases dramatically with no compromise on data quality. The IoT sensors monitor asset performance continuously and when this data is combined with today’s advanced analytics, it helps managers make better asset management decisions. You can schedule maintenance only when it is needed and optimize your resources.

But just implementing hundreds of sensors to every asset in the organization will not drive IIoT benefits. Instead, you will need to focus on the specific instances which best fit your industry and your organization. For instance, if your focus is on improving the operating health of the asset, parameters such as vibration and temperature become more critical as compared to other criteria.

Asset Maintenance Maturity Model and IIoT
Use the AMM Model to understand how best to use IIoT effectively for asset maintenance. For instance, reactive maintenance may work for non-critical assets as their preventive maintenance costs might outweigh their asset failure costs.

When asset fail randomly, tracking various trends and parameters is essential to identify root cause. You can use sensor data to set up user-defined rules to monitor and perform asset maintenance activities. Any of the set conditions can trigger work orders requests and assignments. McKinsey says that this type of Condition-based maintenance can not only reduce maintenance costs by up to 25% but also cut unplanned outages by up to 50%, thus contributing to asset longevity.[3] Critical asset failure can have a significant business impact. Using a combination of condition-based maintenance, Advanced Pattern Recognition and machine learning can provide robust analytics which can identify performance issues and predict impending asset failures.

But to reach the top of the pyramid (Prescriptive Maintenance), your asset management strategy needs to incorporate predictive maintenance analytics and machine learning to provide diagnostics and guidance for asset repair. Also, you will need the necessary information to determine the timing and impact of failure to help assess asset priority and urgency.

How we can help
ValuD, together with Motors@Work and IBM Maximo can assist you on your journey to predictive maintenance. Combine the best of what IIoT, Analytics and Cognitive Intelligence has to offer and make informed asset management decisions. Our Maximo experts will assist in upgrading your instance to 7.6 and taking advantage of the benefits. Leverage Motors@Work’s analytics to collect and analyze condition monitoring alerts to improve reliability and asset utilization. You can also:

  • Leverage Motors@Work’s patent-pending analytics and proprietary motor catalog to plan, prioritize, initiate, and execute capital replacement recommendations.
  • Use IBM Maximo together with Maximo Asset Health Insights (MAHI) and Motors@Work’s pre-configured Energy and Reliability score cards to monitor motor health and to support better asset management decisions.
  • Take advantage of Watson IoT’s predictive analytics solution and Motors@Work’s learning algorithms to monitor motor health, build a life-cycle model that predicts asset end-of-life, and trigger maintenance alerts.

For more information, contact us at




Benefits of a Maximo Version 7.6 upgrade

In our earlier blog, we reviewed considerations for upgrading to Maximo 7.6.  Now that IBM has announced End of Support for Maximo 7.5, now is the time to  upgrade to the latest version.

Let’s delve into the benefits.

Benefits of Maximo 7.6 upgrade

  1. Reduced need for Customizations: Maximo 7.6 comes with improved OOTB capabilities which greatly reduce the need for customization. Feature pack enhancements include
    1. Support for Maximo Integration Framework (MIF) scripting
    2. General scripting enhancements (including support for real-time logging, library scripts)
    3. More script points for Maximo Business Objects (MBO) and MBO attributes
    4. Support for mathematical formulas
    5. Federated MBOs which facilitate ease of integration with external REST APIs. This allows external REST APIs to be treated as Maximo MBOs enabling them to be used in Maximo UI, workflows, conditions, escalations, integrations, scripting etc.
    6. Enhanced REST APIs to support end-to-end JSON format and accessibility to more Maximo functionalities.
    7. Improved troubleshooting capabilities including user-scoped logging support and Maximo Management Interface (MMI).
  2. IBM Watson Analytics Integration: Maximo 7.6 comes equipped with seven preconfigured data sets and seamless export to Watson Analytics. Take advantage of Watson’s cognitive intelligence to identify and analyze asset issues and trends within your Maximo system.
  3. Leverage IoT Platform: McKinsey says companies can reduce their maintenance costs by up to 25% and cut outages by up to 50% just by monitoring and analyzing asset health data – both historical and real-time[1]. Internet of Things (IoT) can help you gain insights to real-time asset health data. Perform your condition-based maintenance leveraging the wealth of data provided by the IoT platform. Learn more on how IoT can help with Preventive Maintenance here.
  4. Expanded list of Add-Ons like AHI and Industry Solutions: Maximo Asset Health Insights (MAHI), an add-on solution offered by IBM with Maximo 7.6, helps determine repair versus replace opportunities by providing you insights on asset health. It leverages the Watson IoT platform together with historical weather and sensor (real-time and historical) data to enable condition-based asset maintenance. Similarly, industry solutions including Utilities, Oil & Gas and Aviation have been enriched with newer capabilities delivering an enhanced user experience.
  5. Better License Tracking: Maximo 7.6 includes new applications and reports to enable users to register and track usage of their entitlements that would help identify under or over utilization.
  6. Newer Capabilities:
    1. BIM: Integration with BIM (Building Information Modeling) has been enhanced due to the addition of new apps for COBie data import, BIM project management and commissioning of 3-dimensional building views.
    2. Maps & Service Addresses: You can now add service addresses for assets and locations and take advantage of Esri, Google and Bing maps for increased resource utilization and usability.
  7. Work Centers: Role-based, data-driven, interactive work centers will be made available with 7.6 to drive an intuitive and better user experience.
  8. Automation Testing: Maximo 7.6 offers automation testing support using the Selenium Automation Framework facilitating quicker deployment of newer features.

How ValuD can help
ValuD has deep asset management and Maximo technical knowledge with twenty years of Maximo upgrade experience beginning at Maximo 4.2. Our team of Maximo consultants will solve your Maximo upgrade challenges quickly and deliver cost effective solutions. Specific Maximo upgrade services that we provide include

  1. Data Cleansing to detect and remove/correct inaccurate records making the system easier to use.
  2. Integration with external and internal legacy systems to enable transmission and exchange of asset data.
  3. Standard and Custom Report creation for better insights on asset health and facilitate condition-based asset monitoring
  4. Industry Expertise and best practices to implement a seamless transition to the latest version.
  5. Implement the Maximo Bridge to Cloud program to move your on-premise license to a SaaS Model. Use this option to experiment the SaaS model for your Maximo subscription at no extra charge, retaining your support for the on-premise option at the same time.
  6. Minimal downtime during implementation: We will perform the upgrade offline in a Development/Test environment and solve the issues. These changes will then be deployed to the production environment over a weekend to minimize downtime.

To learn more on how ValuD can help you upgrade to Maximo 7.6, contact us at


Harness The Power Of IoT For Condition Based And Predictive Maintenance

Did you know

  • 82% of asset failures occur randomly and do not have an age-related failure pattern[1]
  • On an average, 18%-30% of every dollar spent on maintenance is wasted[2]

Age-related failure is the basis for Preventive Maintenance. The older the asset, the higher the frequency of maintenance – this kind of time-based cycle has always been the accepted industry practice. But when time-based maintenance activity is not effective, the question becomes whether the money spent is really worth the investment.

Preventive Maintenance costs Versus Asset Reliability
ARC Advisory Group’s Enterprise Asset Management and Field Service Management Market Study finds that an average company can reduce its maintenance costs up to 50%. ARC identifies the primary KPIs for asset performance as higher uptime and asset longevity.[3] The argument is that sometimes over- maintaining may do more harm than good, increasing costs and squandering precious maintenance resources (time, tools, parts and labor).

A study by Oniqua Enterprise Analytics, found that 30% of preventive maintenance activities were carried out too frequently, while 19% of preventive maintenance activities were a waste of time.[4] With more than three-fourths of your assets having a random (and not age-related) failure pattern, your preventive maintenance activities may not be effective. Companies are challenged to balance maintenance investments versus asset reliability.

Condition-based Monitoring
Rather than executing maintenance based on a set interval, listening to your assets can provide valuable insight. Monitoring temperature, pressure, vibration, voltage imbalances and other measures can be strong indicators. If any of these conditions are outside of acceptable parameters, then it signals the need for maintenance investigation. This kind of condition-based maintenance is predictive in nature and can help increase asset uptime and reduce asset life cycle costs.

How can an EAM solution help
Management and/or mitigation of risk due to failure of critical assets is the foundation of asset management. Identifying risk and establishing controls is essential to transform an organization’s asset management approach from reactive to predictive. Predictive Asset Analytics can proactively address potential safety risks and compliance issues by analyzing both historical and current data from multiple sources like SCADA (Supervisory Control and Data Acquisition), online monitoring systems, and non-operational data (industry standards, operational practices) to build predictive models. One can use these models to generate risk scores which, in turn, can help you understand the implications of events and the necessary action.

Choosing the right asset management software is the key to maximize value and efficiency. IBM Maximo Asset Health Insights, for instance, can access multiple data sources in real time to predict asset failure, which can help mitigate downtime and reduce your maintenance costs. Use Maximo to detect anomalies and failure patterns and identify assets or processes that are at the highest risk for failure.

Technological advancements like the Internet of Things (IoT) also makes it easier for Predictive Maintenance activities like Condition-based Monitoring since it eliminates the need for human-to-human or human-to-computer interaction. IoT can be integrated with work management to create closed loop reporting, alerts and work requests.  Motors@Work IoT application, for instance, associates near real-time energy data with motor system design plus operational and DoE metrics  as the basis for condition monitoring alerts.

As a long standing and trusted partner of IBM, ValuD (through AME, our Maximo services company) has been providing implementation and support services for IBM Maximo since 4.0. Motors@Work is a scalable, cloud based solution that provides the information and intelligence that will save you energy, reduce maintenance costs, and improve motor-driven system asset performance. The out-of-the-box solution integrates seamlessly with existing asset management systems like IBM Maximo, leveraging current technology investments.

To learn more on how ValuD can help leverage Maximo and IoT for your asset management strategy, contact us at

[1] Optimize Asset Performance with Industrial IoT and Analytics By Ralph Rio. ARC View, August 6, 2015

[2] Bever K, Enterprise Systems Integration: Opportunities & Obstacles Developing Plant Asset Management Systems March 13, 2000 (Presented at National Manufacturing Week, Chicago, Illinois)

[3] Optimize Asset Performance with Industrial IoT and Analytics By Ralph Rio. ARC View, August 6, 2015

[4] Oniqua Enterprise Analytics: Reducing the cost of Preventive Maintenance