Asset health refers to the current condition, performance, and risk status of a physical asset – such as machinery, vehicles or equipment – based on real-time data and historical trends. In field service management (FSM) and computerized maintenance management systems (CMMS), tracking asset health is essential to minimizing downtime, reducing maintenance costs and extending asset lifespan.
In simple terms, asset health answers one key question: "How well is this asset performing right now, and is it at risk of failing soon?"
This involves evaluating factors such as:
By continuously monitoring these indicators, businesses can catch early signs of wear and tear or performance decline – before costly breakdowns occur.
Understanding asset health is critical for:
In FSM platforms, asset health metrics are often visualized through dashboards and integrated with service scheduling, inventory management and compliance tracking.
Tracking asset health typically combines:
Together, these inputs create a 360-degree view of each asset's real-time status and evolving condition.
While they’re closely related, asset performance focuses on productivity and efficiency metrics (like output, speed and uptime), whereas asset health assesses condition and failure risk. Think of performance as "how well it’s doing" and health as "how likely it is to keep doing it."
Maintaining strong asset health is foundational to efficient field service operations. By monitoring condition indicators, companies can proactively schedule maintenance, avoid unplanned downtime, and extend the useful life of critical assets.
A modern FSM platform like FieldEx empowers teams with real-time asset data, intelligent alerts, and predictive maintenance tools – all designed to keep your equipment in peak condition and your business running smoothly.
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