Brazilian companies have adopted in recent years new management practices to remain competitive. Specialized consulting in asset management progressively creates or adapts new techniques in order to increase availability and reduce manufacturing costs, maximizing profits. New engineering concepts were acquired and implemented by executives in all business segments. Techniques, such as FMEA, RCM, LCC, Pas 55, Reliability studies by Monte Carlo simulations, among others, have become increasingly recognized as important tools to enhance managerial performance. Besides these techniques, this study suggests the importance of adequate structuring of a lubrication program, as a critical success factor for the reliability of any asset. Through a case study developed with a company in the mining sector, this work proposes the development of a master plan for lubrication based on three pillars: People, Equipment and Management system. Practices and care with lubricants, hydraulic fluids and coolant, until its point of application, shall be evaluated to ensure a correct contamination control and a high level of assets availability. This discussion sheds light onto other benefits of this process, including occupational health and safety; ergonomics; environment and sustainability.