Universal Asset Management (UAM) is an engineering firm expanding its service offering to select vertical markets defined as a comprehensive Asset Protection Program (APP®). The APP is designed to increase the reliability of your equipment, automate your repair/tracking system, integrate bill paying, and provide asset management services for all your facilities while reducing and/or stabilizing maintenance costs. 

There have also been two significant systems developed for controlling and containing maintenance costs that have been introduced in the last 30 years.  These systems involve very different approaches toward maintenance, and yet, when combined together, they offer some significant and unique advantages to the containment of costs and controlling of maintenance services.

Reliability Centered Maintenance (RCM)

While originally designed to increase the reliability of individual pieces of equipment, RCM now has transformed into a method which insures that the functionality of systems remain intact such that their original mission can be carried out in a reliable manner.  The RCM process is a systematic, qualitative decision methodology that identifies the most cost effective preventive maintenance tasks.  An RCM maintenance program will not eliminate unscheduled and corrective maintenance, although is designed to reduce unnecessary maintenance costs.

Equipment Maintenance Insurance (EMI)

Equipment maintenance insurance was originally designed as a replacement for standard manufacturers supplied maintenance contracts. Through a highly managed vendor network, EMI has the ability to deliver equipment reliability on a consistent basis costing less than the standard manufacturer service contract.

Manufacturer service maintenance agreements are very restrictive. There is an inherent assumption made in such maintenance contracts that corrective action measures will be significant. As a result, such maintenance contracts tend to be very expensive.

Insurance companies who have developed equipment maintenance insurance have found that through managing the service vendor network and concentrating heavily on the restructuring of this network, they can reduce the overall costs associated with manufacturer service contracts.  For the most part, EMI policy premiums will be anywhere from 10 to 15 percent less than a standard maintenance agreement.  Consequently, EMI has been utilized predominately as a substitute for manufacturer supplied service contracts.

The Scope of the Business Approach is as Follows:  

UAM is targeting select markets with a complete Asset Protection Program, which consists of asset/risk management, a comprehensive corrective/preventive maintenance program, disaster recovery planning, service/maintenance reporting, and bill paying.  An Asset Management program backed by a maintenance service agreement and/or a contractual liability insurance policy from an “A” rated insurance carrier is also included in the APP.  UAM will administer this program on behalf of the carrier for all of your locations as outlined in the terms and conditions of your contract.

UAM will develop, define, and optimize a client specific preventive maintenance schedule designed specifically for your equipment to enhance uptime and cut corrective maintenance costs through the utilization of reliability centered maintenance techniques.  The service agreement will pay for all corrective/preventive maintenance tasks as outlined in the contract.

UAM will also be responsible for documenting all field service reports received from your service manager and will process the service call from: date and time received › dispatched › repaired › ticket closed › analyzed › payment rendered (vendors and/or reimbursements) on behalf of your company.

UAM will make available a UAM hosted CMMS or self-directed program for purpose of tracking, monitoring, PM scheduling, bill paying, and general reporting of activities associated with your maintenance activities.