Asset Criticality Ranking Matrix Worksheet
Score and rank every asset in your facility by safety risk, production impact, repair cost, and spare part lead time. Use the total score to assign maintenance strategies, inspection intervals, and spare part stocking priorities.
The Asset Criticality Ranking Matrix provides a structured, repeatable method for evaluating every piece of equipment in your facility against four weighted criteria: Safety/Environmental Risk, Production Impact, Repair Cost, and Spare Part Lead Time. Each criterion is scored on a 1–5 scale. The total score determines the asset's criticality tier — Low, Medium, High, or Critical — which directly drives preventive maintenance frequency, condition monitoring scope, and spare part stocking strategy. This worksheet aligns with ISO 14224 and reliability-centered maintenance (RCM) principles.
- Complete a hazard assessment for each asset before scoring. Reference current SDS, P&IDs, and lockout procedures.
- Gather asset registry data: nameplate details, installation date, operating hours, failure history, and current maintenance plan.
- Assemble a cross-functional team including reliability, operations, EHS, and procurement to ensure scoring consensus.
- Review any existing criticality rankings or risk assessments to avoid duplication and ensure alignment.
Asset Criticality Ranking Matrix
| Status (P/F) | Asset ID & Description | Safety / Env. (1–5) | Production Impact (1–5) | Repair Cost (1–5) | Spare Part Lead Time (1–5) | Total Score | Tier |
|---|---|---|---|---|---|---|---|
| [ ] P [ ] F | PUMP-102 Boiler Feed Water Pump |
5 | 5 | 4 | 5 | 19 | Critical |
| [ ] P [ ] F | COMP-207 Reciprocating Air Compressor |
3 | 4 | 3 | 4 | 14 | High |
| [ ] P [ ] F | CONV-311 Bulk Material Conveyor |
2 | 3 | 2 | 2 | 9 | Medium |
| [ ] P [ ] F | FAN-089 Roof Exhaust Fan |
1 | 1 | 1 | 1 | 4 | Low |
| [ ] P [ ] F | MTR-422 500 HP Main Drive Motor |
4 | 5 | 5 | 4 | 18 | Critical |
Scoring Guide: 1 = Very Low, 2 = Low, 3 = Moderate, 4 = High, 5 = Very High. Total = sum of all four criteria. Tiers: 4–8 = Low, 9–13 = Medium, 14–17 = High, 18–20 = Critical.
Defect / Corrective Action Log
| Date / Time | Asset ID | Issue Identified | Corrective Action Taken | WO # |
|---|---|---|---|---|
| ___/___/_____ | _______ | _______________________________ | _______________________________ | _______ |
| ___/___/_____ | _______ | _______________________________ | _______________________________ | _______ |
| ___/___/_____ | _______ | _______________________________ | _______________________________ | _______ |
| ___/___/_____ | _______ | _______________________________ | _______________________________ | _______ |
Record any asset that fails the scoring threshold or requires immediate corrective action. Reference the work order number for traceability.
By signing below, the reliability lead and cross-functional team verify that all assets have been scored according to the defined criteria and that the resulting criticality tiers accurately reflect current operational risk.