KPI Library
Navigate your organization to excellence with 17,288 KPIs at your fingertips.




Why use the KPI Library?

Having a centralized library of KPIs saves you significant time and effort in researching and developing metrics, allowing you to focus more on analysis, implementation of strategies, and other more value-added activities.

This vast range of KPIs across various industries and functions offers the flexibility to tailor Performance Management and Measurement to the unique aspects of your organization, ensuring more precise monitoring and management.

Each KPI in the KPI Library includes 12 attributes:

  • KPI definition
  • Potential business insights [?]
  • Measurement approach/process [?]
  • Standard formula [?]
  • Trend analysis [?]
  • Diagnostic questions [?]
  • Actionable tips [?]
  • Visualization suggestions [?]
  • Risk warnings [?]
  • Tools & technologies [?]
  • Integration points [?]
  • Change impact [?]
It is designed to enhance Strategic Decision Making and Performance Management for executives and business leaders. Our KPI Library serves as a resource for identifying, understanding, and maintaining relevant competitive performance metrics.

Need KPIs for a function not listed? Email us at support@flevy.com.


We have 39 KPIs on ISO 55001 in our database. KPIs in ISO 55001 implementation are vital for tracking the performance and value of assets. They measure asset utilization, maintenance effectiveness, and lifecycle costs.

These metrics help in optimizing asset management strategies, ensuring the reliability and efficiency of assets, and reducing total cost of ownership. KPIs in this context support informed investment and divestment decisions. They are essential for organizations to maximize the return on their assets and ensure long-term asset performance.

  Navigate your organization to excellence with 17,288 KPIs at your fingertips.
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KPI Definition Business Insights [?] Measurement Approach Standard Formula
Asset Condition Index

More Details

A quantitative measure of the condition or health of an asset, often used to determine maintenance priorities and investment requirements. Provides insights into the remaining useful life and maintenance needs of assets, informing capital planning and risk management. Considers the current state of physical assets by assessing factors such as age, wear, and performance. (Sum of Condition Ratings for Each Asset / Total Number of Assessed Assets) * 100
Asset Criticality Ranking

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A ranking of assets based on their criticality to the organization's operations, which helps prioritize asset management efforts and resources. Helps prioritize maintenance and investment decisions based on the criticality of assets to the business operations. Takes into account the importance of an asset to the core operations, including potential impact on safety, production, and costs. Assigned Criticality Scores for Each Asset / Total Number of Assets
Asset Data Governance Quality

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The quality of governance over asset-related data, ensuring data integrity, accuracy, and security. Reveals the trustworthiness of asset data, which is crucial for informed decision-making and compliance. Measures the accuracy, completeness, and reliability of data pertaining to assets. Total Number of Data Quality Issues Identified / Total Asset Data Records Reviewed
KPI Library
$189/year

Navigate your organization to excellence with 17,288 KPIs at your fingertips.


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CORE BENEFITS

  • 39 KPIs under ISO 55001
  • 17,288 total KPIs (and growing)
  • 360 total KPI groups
  • 107 industry-specific KPI groups
  • 12 attributes per KPI
  • Full access (no viewing limits or restrictions)

FlevyPro and Stream subscribers also receive access to the KPI Library. You can login to Flevy here.

Asset Disposal Efficiency

More Details

The efficiency with which assets are disposed of, including the time taken and the financial return achieved from asset sales or recycling. Indicates how effectively the organization handles the end-of-life phase of asset management, maximizing returns and minimizing costs. Evaluates the process of retiring assets, including the time taken and costs recovered. (Total Revenue from Asset Disposal - Total Cost of Asset Disposal) / Total Number of Disposed Assets
Asset Downtime Ratio

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The proportion of time that assets are not operational due to maintenance, breakdowns, or other inefficiencies, affecting overall productivity. Illuminates the reliability of assets and the efficiency of maintenance practices, aiming for minimal disruption to operations. Measures the proportion of time that assets are not operational due to unplanned outages or maintenance. Total Unplanned Downtime / (Total Planned Operating Time + Total Unplanned Downtime)
Asset Health and Safety Incident Rate

More Details

The rate of health and safety incidents related to asset management operations, important for assessing the risk profile of asset activities. Assesses the effectiveness of asset management in providing a safe working environment and mitigating occupational hazards. Tracks incidents related to health and safety that are caused or influenced by asset conditions. (Number of Health and Safety Incidents Involving Assets / Total Number of Asset Operating Hours) * 1,000,000

Types of ISO 55001 KPIs

We can categorize ISO 55001 KPIs into the following types:

Operational KPIs

Operational KPIs measure the efficiency and effectiveness of an organization's asset management processes. These KPIs focus on the day-to-day operations and can highlight areas for improvement in asset utilization and maintenance. When selecting these KPIs, ensure they align with your organization's operational goals and provide actionable insights. Examples include equipment downtime, maintenance costs, and asset utilization rates.

Financial KPIs

Financial KPIs assess the economic performance of asset management activities. These KPIs help in understanding the financial impact of asset management decisions on the organization's bottom line. Choose KPIs that reflect both short-term and long-term financial health. Examples include Return on Assets (ROA), Total Cost of Ownership (TCO), and Asset Depreciation Rates.

Compliance KPIs

Compliance KPIs track adherence to regulatory and internal standards. These KPIs ensure that the organization meets all legal and policy requirements related to asset management. Select KPIs that cover all relevant regulations and internal policies to avoid legal repercussions. Examples include audit compliance rates, safety incident rates, and environmental compliance metrics.

Strategic KPIs

Strategic KPIs align asset management activities with the organization's long-term goals. These KPIs provide a high-level view of how well asset management supports overall business strategy. Ensure these KPIs are aligned with your strategic objectives and provide a clear path to achieving them. Examples include asset lifecycle performance, investment efficiency, and innovation adoption rates.

Customer Satisfaction KPIs

Customer Satisfaction KPIs measure the impact of asset management on customer experience. These KPIs help in understanding how well the organization's assets are serving its customers. Select KPIs that directly correlate with customer feedback and satisfaction levels. Examples include Net Promoter Score (NPS), customer complaints related to assets, and service delivery times.

Acquiring and Analyzing ISO 55001 KPI Data

Organizations typically rely on a mix of internal and external sources to gather data for ISO 55001 KPIs. Internal sources often include Enterprise Resource Planning (ERP) systems, Computerized Maintenance Management Systems (CMMS), and financial reporting tools. These systems provide a wealth of data on asset performance, maintenance schedules, and financial metrics. For example, ERP systems can offer detailed insights into asset utilization and maintenance costs, while CMMS can track equipment downtime and maintenance activities.

External sources are equally crucial for a comprehensive KPI analysis. Industry benchmarks, regulatory guidelines, and market research reports from firms like Gartner and Forrester can provide valuable context and comparative data. According to a Gartner report, organizations that leverage both internal and external data sources for KPI analysis are 25% more likely to achieve their asset management goals. Regulatory bodies also publish compliance guidelines that can be used to measure adherence to standards.

Once the data is acquired, the next step is analysis. Advanced analytics tools and techniques, such as predictive analytics and machine learning, can be employed to derive actionable insights. For instance, predictive analytics can forecast future maintenance needs based on historical data, helping to reduce unexpected downtime. According to a McKinsey study, organizations that use predictive maintenance can reduce maintenance costs by up to 20% and downtime by up to 50%.

Data visualization tools like Tableau and Power BI can also play a significant role in KPI analysis. These tools can transform raw data into intuitive dashboards and reports, making it easier for executives to understand and act upon the insights. For example, a dashboard displaying real-time asset performance metrics can help in quick decision-making and timely interventions.

In addition, regular audits and reviews are essential to ensure the accuracy and relevance of the KPIs. Periodic reviews can help in identifying any discrepancies or outdated metrics, ensuring that the KPIs remain aligned with the organization's evolving goals. According to Deloitte, organizations that conduct regular KPI audits are more likely to maintain high levels of performance and compliance.

KPI Library
$189/year

Navigate your organization to excellence with 17,288 KPIs at your fingertips.


Subscribe to the KPI Library

CORE BENEFITS

  • 39 KPIs under ISO 55001
  • 17,288 total KPIs (and growing)
  • 360 total KPI groups
  • 107 industry-specific KPI groups
  • 12 attributes per KPI
  • Full access (no viewing limits or restrictions)

FlevyPro and Stream subscribers also receive access to the KPI Library. You can login to Flevy here.

FAQs on ISO 55001 KPIs

What are the most critical KPIs for ISO 55001 compliance?

The most critical KPIs for ISO 55001 compliance include audit compliance rates, safety incident rates, and environmental compliance metrics. These KPIs ensure that the organization adheres to all regulatory and internal standards.

How often should ISO 55001 KPIs be reviewed?

ISO 55001 KPIs should be reviewed at least quarterly to ensure they remain relevant and aligned with the organization's goals. Regular reviews help in identifying any discrepancies and making necessary adjustments.

What tools are best for tracking ISO 55001 KPIs?

Tools like ERP systems, CMMS, and data visualization platforms such as Tableau and Power BI are highly effective for tracking ISO 55001 KPIs. These tools provide comprehensive data collection and intuitive reporting capabilities.

How can predictive analytics improve ISO 55001 KPI performance?

Predictive analytics can forecast future maintenance needs and asset performance, reducing unexpected downtime and maintenance costs. This proactive approach can significantly enhance KPI performance.

What role do external benchmarks play in ISO 55001 KPI management?

External benchmarks provide valuable context and comparative data, helping organizations understand their performance relative to industry standards. This can guide strategic decisions and highlight areas for improvement.

How do financial KPIs impact asset management decisions?

Financial KPIs like Return on Assets (ROA) and Total Cost of Ownership (TCO) provide insights into the economic impact of asset management decisions. These KPIs help in optimizing asset investments and reducing costs.

What are the challenges in acquiring ISO 55001 KPI data?

Challenges in acquiring ISO 55001 KPI data include data silos, inconsistent data formats, and lack of real-time data. Overcoming these challenges requires integrated systems and robust data management practices.

How can customer satisfaction KPIs be integrated into ISO 55001?

Customer satisfaction KPIs can be integrated by measuring the impact of asset management on customer experience. Metrics like Net Promoter Score (NPS) and service delivery times can provide valuable insights.

KPI Library
$189/year

Navigate your organization to excellence with 17,288 KPIs at your fingertips.


Subscribe to the KPI Library

CORE BENEFITS

  • 39 KPIs under ISO 55001
  • 17,288 total KPIs (and growing)
  • 360 total KPI groups
  • 107 industry-specific KPI groups
  • 12 attributes per KPI
  • Full access (no viewing limits or restrictions)

FlevyPro and Stream subscribers also receive access to the KPI Library. You can login to Flevy here.




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