ISO 55000 ASET MANAGEMENT

Standard ISO 55000 is an international standard that harmonizes requirements for asset management. An asset is an item, thing or entity which has a certain value in a given organization. Assets are divided into following categories: tangible, intangible, financial or non-financial.

The ISO 55000 family is the first set of International Standards for Asset Management and includes:

ISO 55000 providing an overview of the subject of asset management and the standard terms and definitions.

ISO 55001 specifies the requirements for an integrated, effective management system for asset management.

ISO 55002 provides guidance for the implementation of such a management system.

The ISO 55000 standard has created even greater market awareness for the need of professional Maintenance & Asset Management. Increasingly more companies are consequently obtaining ISO 55000 certification. Mainnovation guides these companies on the basis of the following three steps:

ISO 55000 Gap Analysis: we assess whether the organization is compliant with the ISO 55000 standard on the basis of an elaborate checklist. The identified fits & gaps are reported and discussed with the customer.

Asset Management System

In summary, ISO-55000 series providing a structured approach to contract an asset management system.

An asset management system is a set of interrelated and interacting elements of an organization, whose function is to establish the asset management policy and asset management objectives, and the processes needed to achieve those objectives. It is more than a management information system, but to provides a means for coordinating contributions and interaction between all functional units within an organization and external service providers.

Context of the organization

When establishing asset management system, an organization should take into account its internal and external contexts. The internal context will be organizational culture and environment, the mission, vision and values of the organization. The external context normally includes the social, cultural, economic, physical environments, regulatory and other constraints.

Understanding the organization and its context: Internal and external issues that are relevant to its purpose need to be determine.

There is details checklist available at ISO 15002.

Understanding the needs and expectations of stakeholders: First is to identify stakeholders that are relevant to the asset management system. The understanding process can be done formally or informal manner, however it is important to document it systematically for further follow-up.

ISO 55000 Certification

ISO 55000 is a globally recognized standard for asset management that may be used by businesses of any size and in any industry. It was created by the International Organization for Standardization (ISO) to aid organizations in risk management by establishing performance criteria that are refined over time as part of a continuous improvement cycle.

ISO 55000 can be used across all industries as it applies to all types of assets such as equipment, software, processes, and even people as well. The following are industries that will benefit from ISO 55000 certification:

Utility companies

Many significant concerns affect water, power, and other utility providers, including ageing infrastructure and increased regulatory scrutiny, which ISO 55000 certification can help with. Asset management standards are instruments for both big-picture planning and day-to-day maintenance for utility businesses. If your company works with subcontractors frequently, ISO 55000 certification encourages collaboration and communication between the parties, resulting in increased responsibility and efficiency.

Property Management And Real Estate

ISO 55000 certification includes tools for guaranteeing building code and municipal bylaw compliance, coordinating massive remodelling projects, and dealing with tenant concerns. ISO 55000 certification ensures interaction with real estate environmental management and energy management systems, just as it does with manufacturing processes, to minimise ongoing expenses while keeping units in good shape.

Oil and Natural Gas

In the oil and gas business, efficiency is a major concern. Because of the large amount of equipment and personnel involved in refining, transporting, and processing, any unplanned downtime can be quite costly. Obtaining ISO 55000 certification can assist oil and gas firms in ensuring that their equipment is well-maintained and operating properly. ISO 55000 certification is scalable for deployment in multi-site operations in the oil and gas industry, ensuring unified asset management standards that are flexible enough to expand with your organisation.

Construction

Construction, like oil and gas, entails expensive, specialised equipment that must be properly maintained in order to assure efficient and cost-effective operation. For fleet management, ISO 55000 certification is a very valuable instrument. It’s used by construction crews to keep track of light to heavy duty equipment and accessories, among other things. Lower operating and ownership expenses, as well as more reliable equipment, are all advantages of ISO 55000 certification for construction companies or contractors.

Manufacturing

ISO 55000 certification will continue to be a top focus as more manufacturers shift to leaner production methods. ISO 55000 certification gives manufacturers a mechanism to keep track of building and equipment maintenance. It interacts with environmental, information security, health and safety, and other management systems as part of the ISO family of standards, emphasising the common risks and opportunities these protocols share.

Transportation

Improved fleet management, smarter and more effective route planning, and lower fuel and maintenance expenses are all advantages of ISO 55000 certification for transportation firms. ISO 55000 certification can help your company uncover trends that are costing it money while also maximising the use of its existing resources. Standardized transportation asset management also helps to alleviate the paperwork burden associated with record keeping and compliance audits.

Distribution

Because global supply chains might encompass assets all over the world, standardised systems and repeatable, quantifiable processes are required to get parts and goods where they need to go. Lower costs, improved openness, and greater accountability when things go wrong are all advantages of ISO 55000 certification for distribution companies. While expanding into new areas, ISO 55000 certification can assist distributors in improving regulatory compliance and reducing risk.