The Society for Maintenance and Reliability Professionals (SMRP) recently launched more than 70 new standardized industry metrics designed to provide insight into the effectiveness and accuracy of asset management in the maintenance and reliability industry.

The revisions give maintenance and reliability professionals the ability to uncover best-in-class target values where applicable as well as understanding into formulas, ratios, statistics, definitions and references for a consistent benchmark to measure their performance.

While current SMRP metrics offer guidance on how to measure key performance indicators, the newly added best-in-class target values explain how to effectively apply the metrics and identify "what good looks like."

"These metrics allow organizations to measurably improve their effectiveness within their respective fields," said Shon Isenhour, SMRP chair and director of education at GPAllied. "We are proud to facilitate an industry tool that many companies can use to examine critical internal data that will further promote the growth of our industry."

SMRP also added a new search feature for e-Metrics called "bundles" to help the maintenance and reliability professional quickly find key work management metrics. Bundles are summarized as work identification metrics, work planning metrics, work scheduling metrics, backlog management metrics, resource management of people and resource management of materials.

For more information, visit www.smrp.org.