Asset management - HxGN EAM - 12.2 - Administration & Configuration

The EAM asset management module provides the most efficient and effective method for managing your physical assets. Each organization establishes its own unique structure and configuration for physical assets. For example, assets can be centrally located or widely distributed; they can be fixed, movable, or rolling stock; they can be moved to new locations, replaced, swapped, and removed for repairs. Assets can be point, linear or network assets. Additionally, assets can be mechanical, electrical, or civil. A large enterprise may have thousands of individually numbered assets performing one function in a process of many functions. Therefore, proper asset management is essential to produce quality goods and services.

EAM allows you to record, maintain, structure, and standardize physical asset information. The asset management module holds the identity, configuration, and structure of physical assets as well as their complete technical and commercial configurations. You can track each asset’s current position (either by location, functional position, or tag) and its past locations and maintenance history. Assign bin locations and lot numbers for assets kept in stores (parts tracked by asset) to track and record details of asset transactions, such as receiving, issues, returns, and transfers. This information is easily integrated with additional details from other applications. Indicate whether equipment is subject to the United States Food and Drug Administration (FDA) Current Good Manufacturing Practices (cGMP) standards (21CFR11) to configure EAM to create electronic records and/or require signatures for any work performed on cGMP equipment.

You can also track asset depreciation using one of the following depreciation methodologies: straight line depreciation, sum of years’ digits, double declining balance, and units of output.

The asset management module provides comprehensive analysis functions, key performance indicators (KPIs), and cost history capabilities. Cost and history roll- ups are displayed in a multitude of views, allowing you to examine asset performance and maintenance costs.

Module features

Module feature	Description of feature
Asset depreciation	The asset management module allows you to track asset depreciation and calculate an asset’s depreciation expense based on an accounting period (fiscal year) and the useful life of the asset. EAM provides the following asset depreciation methods: Straight line depreciation, which is based on the principle that an asset loses an equal amount of value each year Sum of years’ digits depreciation, which is based on the principle that a fractional part of the depreciable cost of the asset is debited to the depreciation expense each year in which the denominator of the fractional portion to debit represents the sum of the year’s digits Double declining balance depreciation, which is an accelerated method of depreciation in which double the value of the straight-line depreciation expense is taken the first year of an asset’s estimated useful life, and then that same percentage is multiplied by the book value of the at the beginning of the subsequent years in the asset’s life Units of output depreciation in which the depreciation expense is based on the usage of an asset within a specified period Asset depreciation support for GASB 34, IFRS and GAAP, asset including impairments and asset appreciation
Asset structure	The asset management module gives you the flexibility to establish your physical assets according to your own asset structure. EAM provides the following asset structure options: Asset identifiers Hierarchical structures of unlimited complexity Unlimited number of asset parent/child relationships Grouping of assets by system location, such as a process line or electrical circuit Choice of functional position (one or more physical assets per position) or tag numbers (one physical asset per functional position) Bill of materials, such as a list of parts that may be required for the repair of a physical asset Indicators to configure cost roll-up Positions, Location and Systems support
Asset inventory	Asset inventory allows you to perform periodic asset audits. You can perform asset audits to reconcile online asset’s physical location with the actual physical location of the asset. The counting criteria can be setup on this screen based on which list of assets in the specified location will be generated. The actual counting can then be performed either by using a handheld device, iPad or manually. The counted data will then be reconciled, for the user to view and approve the count.
Descriptive and history information	EAM provides extensive asset information. Include the following details on each asset record: Profile (name/description) and technical details (rating, voltage, capacity) Design and as-built specifications Multimedia documentation and physical location Relationship to other assets, including grouping by class and category Meter type, inspection notes, and free-form comments VMRS class and manufacturer/supplier for vehicles Asset Performance ISO 55001 support	Track asset history via the following options: Requirements and action codes Material and labor costs of maintenance work Potential warranty claims tracking Mean-time between failure (MTBF), mean-miles between failures (MMBF) and fault-trend analysis Location and status changes Relationship to other asset changes Relationship to other asset additions
Warranties and warranty claims	Many suppliers provide a warranty on new equipment for a specific period. EAM tracks asset warranties and processes warranty claims. For example, after defining warranty documents, you can associate warranties with equipment or parts. Then, update warranties as needed. If a part or piece of equipment breaks down or needs repair while under warranty, EAM makes it easy for you to process a claim. Create warranties based upon either calendar periods or equipment usage, or you can create warranties that are based upon both. For example, you can create a five-year, 50,000-mile warranty for an automobile in your fleet. If you are using dual warranty expiration criteria, EAM automatically terminates a warranty whenever one of the expiration conditions is reached. You can also associate VMRS codes with warranty documents to enable EAM to determine a warranty’s applicability to work orders and work order activities created for VMRS equipment.
Linear assets	The linear assets module allows you to define an asset in terms of linear reference details—like length, unit of measure, and geographic reference. You can write work orders against any portion or point on that asset by specifying from and to points. There are virtually unlimited numbers of potential work sites on any linear asset. EAM includes dynamic segmentation in linear asset functionality, meaning that you can "segment" an asset ad hoc. This occurs when you write a work order against a new portion of a linear asset. The key resides in the costing side of asset performance management. You can generate costing information that looks at maintenance costs only from point A to point B. The system will then retrieve the costs for all work orders whose portions or points reside in the specified segment. If a work item resides only partly in the specified segment, the system will automatically allocate the costs for that segment only. Linear asset functionality does not require GIS, although it does include several important GIS interface features. The most significant addition to GIS operations is the ability to specify a portion of a linear asset and execute a search in GIS based on the portion and not the entire asset. This simplifies operations by narrowing the scope of such GIS searches.

Asset management - HxGN EAM - 12.2 - Administration & Configuration - Hexagon

EAM System Overview