Reliability is a journey – not a destination. If you’ve been in the industry for some time, you’ve probably heard that one before. Because, it’s true! This journey will have many pit stops, detours, and construction zones, and like any trip that you take in any facet of life – it’s best to have a map.
If you’re familiar with how we help organizations align their daily actions with their strategic objectives, you’ve probably seen what we call our objective wheel, a map for organizations, which aids them in navigating through all aspects of the reliability journey.
How is the Objective Wheel Built?
We’ll break it down for you. The objective wheel is a hierarchy of business objectives displayed in a radial fashion. The center of the wheel is the “top” of the hierarchy – each segment there is a high level business objective, and the segments radiating out to the edge represent supporting objectives and initiatives. For example, let’s look at the potential objective wheel for an organization that maintains assets as a facility maintenance group. At the center of the objective wheel, the overarching business unit of asset management may have four main objectives, Reliability and Return on Assets being two of them. Under Reliability, you may have supporting objectives that, if met, should lead to the achievement of your overall reliability objective. Each objective would have one or more KPIs (Key Performance Indicators). Let’s take PM Compliance for example.
What Does the Objective Wheel Do? Creating A Line of Sight
Compliance with one’s proactive maintenance plan is considered a key contributor to asset reliability and would be represented as a child objective in the wheel. A KPI which measures the percentage of PMs completed within their planned time frame indicates whether that objective is being met. These KPIs are measured and documented inside of Propel, the Performance Management solution, and are tied with goals and initiatives. That way, the objective wheel can indicate the health of the process as it relates to your overall goals and objectives. The objective is color coded depending on the thresholds you’ve set for success - good, ok, and/or needs work – and that status “rolls up” the hierarchy, or towards the center of the wheel.
The objective wheel gives your organization a line of sight, enabling the user to visualize a clear relationship from the top of the organization down to the bottom – strategic to tactical.
Visualize, Align, Act
Seeing this in a visual representation, along with the additional capabilities that the Performance Management solution offers, enables organizations to…
- Quickly assess status based on targets and expected results for objectives
- View initiatives to improve performance or mitigate the risk of missing goals
- View current events and activities, indicating where effort and attention are being placed
- Identify areas that may be blind spots; where objectives do not have measures or data defined in order to evaluate performance – how can you get where you’re going if you don’t know where you’re coming from?
- And identify misalignment between parent and child objectives – cases where supporting objectives do not demonstrate actual impact on higher level objectives
The objective wheel is just one part of our Propel Performance Management solution. We work with organizations to help them create alignment from the top down, because the business processes that you rely on are as much assets to your organization as the physical ones you maintain for production. Learn more about what we do and how we can help your organization.