ISO 55000: Grab These Asset Management Resources

Details of the ISO 55000:2014 Asset Management Standard continue to spread. To recap: In the maintenance and reliability arena, “assets” are typically physical, i.e., equipment, systems, processes, facilities, buildings, and so forth. True life-cycle management of such assets, through their development and deployment, operation and maintenance, and eventual decommissioning, is an organization-wide endeavor led from the top. As maintenance and reliability professionals, our role should be to coach peers and upper management on the breadth and depth of this pursuit. This month’s “Uptime” column discusses some critical elements that must be considered to achieve reliability and cost goals over the life of an asset.

Fortunately, resources to help us understand associated concepts and activities are within our grasp—online. The following three documents are good examples. Used together, they can help decision-makers understand the fundamentals and requirements of ISO 55000.

Asset Management Anatomy

The Institute of Asset Management (IAM), Bristol, UK, developed the Asset Management Anatomy (v. 3, Dec. 2015) to provide an appreciation of asset management: What it is, what it can achieve, the scope of the discipline, and descriptions of the underlying concepts and philosophy. Readers will find this publication especially helpful in growing their own understanding of the field, as well as in introducing a new way of thinking about asset-management systems in the context of entire value-producing-resource life-cycles. Among other things, sections/topics include:

• asset-management models and management system
• why does asset management matter
• who does asset management
• asset management subjects.

IAM Members and Affiliates can download the Anatomy document for free. Non-members will need to become Affiliates (at no charge) to download the PDF. Learn more at theIAM.org/AMA.

Asset Management Landscape

Published by the Global Forum on Maintenance and Asset Management (GFMAM), Zurich, the Asset Management Landscape (2nd Edition, Mar. 2014) is a tool that promotes a common global approach. It includes a number of conceptual models, a list of asset-management subjects and principles, and a framework for describing best practices, maturity, and standards. Among other things, sections include:

• components of the knowledge and practices area
• asset-management fundamentals
• GFMAM asset-management landscape subjects
• asset-management concepts and models.

Download the publication for free at gfmam.org.

IAM Self-Assessment Methodology

The ISO 55000:2014 Asset Management Standard could play a major role in industry in the coming years. Keep up to date with our ongoing coverage of this Standard at maintenancetechnology.com/iso55k.

The Self Assessment Methodology (SAM) (v. 2.0, SAM+, June 2015) allows organizations to assess their capability across either the 28 elements of BSI PAS 55:2008 or the 27 sub-clauses of ISO 55001:2014, including strengths and weaknesses, deficiencies, and areas of excellence. It provides considerable insight into the development of action plans for asset-management improvement, and also lets organizations track such improvements.

This SAM is divided into two parts: “General Guidance Notes” and an Excel spreadsheet “SAM Tool” (SAM+). The tool provides assessment results based on an IAM Maturity Group scale of 0 to 3 (the level of compliance with ISO 55001). Among other things, sections/topics include:

• context and objectives of the SAM+ tool
• users and usage of the SAM+ tool
• questions, Level 3 criteria, and associated guidance
• alignment of questions with BSI PAS 55:2008
• alignment of questions with ISO 55001:2014
• alignment of Level 3 criteria with the asset-management landscape.

Download the SAM “General Guidance Notes” document for free from the IAM website. The “SAM Tool” (SAM+) is available only to paying IAM members. Learn more at theIAM.org/join.