Introduction:
ISO 55000 is known as Asset management standards. its maximizing the return on investment of physical resources while operating in a safe and environmentally responsible manner is now more important than ever for organizations in heavy industrial processes. In this article we have discussed about an ISO 55000 Asset Management Standards.
While many facilities achieve these goals individually, efforts to maintain uptime, improve security, and ensure compliance often don't align with one another. As a result, facilities can waste valuable time, funds and resources by making each effort individually.
By aligning these efforts into a common and comprehensive resource management system, as outlined in International Organization for Standardization (ISO) 55000, facilities can achieve greater returns on their investment in resources. This article provides an overview of the new ISO 55000 set of standards and the requirements that facilities must follow to meet the criteria of this standard.
Evolution of ISO 55000:
In 2004, the British Standards Institute (BSI), together with the Institute of Asset Management (IAM), released Publicly Available Specification 55 (PAS 55). This specification was highly successful, with wide adoption in the energy, transportation, mining, process and manufacturing sectors.
In 2008, 50 organizations from 15 industry sectors in 10 countries collaborated to release the latest update of PAS 55, known as PAS 55:2008. It contains two parts:
- PAS 551: Specifications for Optimized Physical Resource Management.
- PAS 552: Guidance for implementing PAS 551.
The new update has provided a clear definition and specification of requirements in 28 points for establishing and verifying a harmonized, optimized and lifetime management system for all types of physical goods. In late July 2009, BSI, supported by IAM, submitted a proposal to form a "Project Committee" to develop international standards. This ISO standard will be based on the good work captured in PAS 55 and will include input from other industry and scientific communities located around the world.
So, in January 2014, under the auspices of the International
Organization for Standardization, the ISO 55000 family of standards for asset
management was published.
10 things to know about ISO 55000 - The international standard for resource management:
The ISO 55000 standard consists of these three
components.
- ISO 55000 Overview, principles and terminology
- Requirements ISO 55001
- ISO 55002 Guidelines for implementing ISO 55001 (updated November 2018)
Here are 10 things to know about this version:
1- Through the development of this standard,
improvements have been made in a format that includes structure as follows:
- Organizational context
- Leadership
- Plans
- Support
- Operations
- Performance evaluation
- Improvements.
2- Standards of the current existing management system not following this structure, such as ISO 9000, will follow it in the next revision of the standard.
3- The Standard defines an asset as anything that creates value for an organization that has a legal responsibility, not just a physical resource of production.
4- An asset management system provides a structured approach to developing, coordinating and controlling assets associated with an asset throughout its life cycle.
5- The focus of this standard is on understanding and managing value and risk for internal and external stakeholders.
6- The four components of a wealth management system are:
- Wealth management policies.
- Wealth management objectives.
- Strategic wealth management plans.
- Wealth management plans.
7- The purpose of these documents is to define principles which the organization intends to implement asset management to achieve its organizational goals.
8- Organizational change management should play an important role in the implementation of this standard to ensure that there is clear and transparent executive sponsorship and that both technical and people sides are taken into account in integrated project management and change management plans.
9- LCE risk-based resource management implementation model provides the visual steps needed to ensure that the infrastructure is in place to take advantage of this standard.
10- The 29-element Reliability Excellence® model also provides a holistic visual model of the building blocks organizations need to successfully tackle this transformation.
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