July 15, 2020, 12:05 pm

Articles - Asset Management

Five Things You Need to Know about ISO 55000 Certification

Written by Sandy Dunn.   

On January 10 2014, the International Organisation for Standardisation (ISO) published the ISO5500X suite of Management Standards for Asset Management. Organisations can choose to have their Asset Management systems certified as being compliant with this suite of standards. Here are five key things you need to know about the certification process.


Your Guide to ISO 55000 Certification

Written by Sandy Dunn.   

This article discusses the process for certification of Asset Management systems against the ISO 55000 suite of standards. It contains information that will be useful for individuals wishing to become ISO 55000 auditors, organisations wishing to become Conformity Assessment Bodies (CABs), as well as for organisations wishing to have their Asset Management systems assessed against the requirements of ISO 55001.


Developing Asset Management Plans

Written by Scott Yates.   

This article looks at arguably the most important documents in any asset management system – the plans that capture the actions to be taken on each asset.


Maintenance - Risky Business?

Written by Brad Coulding.   

Maintenance is inherently risky.  In fact, you could argue that the only activity that is riskier than doing maintenance is NOT doing maintenance!

The nature of these risks is wide and varied, and includes:

  • Financial Risks (are your maintenance costs under control?)
  • Operational Risks (what is the impact of a maintenance duration overrun?)
  • Environmental Risks (what would be the impact of a spillage which occurred during a maintenance activity?)
  • Safety Risks (will the maintenance be performed safely?)
  • Quality Risks (will the equipment operate reliably after maintenance?)

What is PAS 55?

Written by Scott Yates.   

This article discusses the British Standards Institute's Publically Available Specification 55 (PAS 55), including its history, content and application.

History & Content

Firstly, PAS 55 is actually a two part document, with full titles as follows:

  • PAS 55-1:2008 Specification for the optimized management of physical assets
  • PAS 55-2:2008 Guidelines for the application of PAS 55-1

How Does Asset Management Deliver Value?

Written by Scott Yates.   

In What is Asset Management?, we looked at what asset management was and concluded that it was a fundamentally different way of thinking about physical assets and how they deliver value to an organisation. In this article, we will look at what this means in practice.

To start, recall our definition of asset management from the British Standards Institute’s Publically Available Specification No. 55:2008 (PAS 55): (you may recall three definitions of asset management – but this is the longest and we consultants get paid by the hour!)


What is Asset Management?

Written by Scott Yates.   

Almost everybody has probably heard the term “Asset Management” thrown around, but what does it really mean? This article sets out to answer that question.

Firstly, we need to clarify what we’re talking about. What is an asset?

According to a recent draft of ISO 55000, an asset is:

something that has potential or actual value to an organization.