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Successful EAM Implementation - Prepare & Plan

In today's technology savvy world, most of the industries stumble upon this daunting question- Whether I really need a robust EAM software? If yes then what are the key elements it addresses? Some industries are forced to keep the EAM software just to comply with the statutory & regulatory requirements or sometimes it's purely for increasing their brand value in the competitive market. It is very important to ensure a proper pre selection & pre-planning exercises without which the EAM program could end up in a failure. There are few aspects which I believe needs to be considered here, let's see what they are

Some of the common which industries can experience are:

• Low system usage due to inability to track system usage effectiveness
• Low software license usage for which high license cost is being paid
• High customization to meet specific business requirement
• Data information flow is not streamlined due to non-synchronized data
• High usage of adhoc tools such as Excel etc. affecting data quality
• Limited reporting feature due to data sits across different system/tool
• System is made rigid with non-scalable solutions & incurring more cost on upgrade cost

Now a days Enterprise asset management software is being popularly used within the organization to manage their assets. Most of the EAM software does not cover the complete asset management cycle thus compelling the organizations to go for additional software(s) to mitigate those gaps in EAM software. On the other hand many organizations are found not utilizing the EAM package at the most due lack of proper due diligence in place. Some of key questions which each organization should have a definite answer(s) before going for an EAM software implementation program are:

• How EAM software will be beneficial for the company and their people?
• How can they derive full benefits from the EAM software?
• How much of their process and standards can comply (Fitness %) with the standard EAM software? Do they really need additional software's?
• What will be the long run cost incurred having an EAM software in place?
• Do we have proper governance model in place?
• Is the current business process harmonized? 
• Any communication plan in place? - People should be aware off of the happenings so that they can make up their mind for the upcoming changes.
• Are we proposed to use right people for EAM implementation? Users who has diversified/depth process knowledge from different business should be part of implementation team
• Do we have detailed plan of how many, how long, where, when & how to involve business team members during implementation as this will avoid project delays
• What all risk & opportunity will be encountered? Do we have mitigation plan for the identified risks.
• Do we have detailed change management program in place?

There are organizations who have successfully implemented EAM software by identifying & bridging the gaps between People > Process > Software. However, few organizations were not so successful in reaping the full benefits of EAM solution and are still in process. The suggestion which I would like to provide here is to carefully evaluate the challenges, identifying the pitfalls and introspect on the listed aspects, I am sure this would definitely yield results and will help to convert the pitfalls in to opportunities making a comfortable success zone to move on!

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