November 18, 2018, 3:30 pm

  • Asset Management Competence Implementing ISO55000So far in this series we have tackled the key requirements for successfully implementing ISO 55000 relating to documentation and management processes.  Now we turn our attention to ISO 55001’s requirements in terms of Asset Management competence.

  • Organisational cultureWhile it is tempting to focus on processes and systems as being at the core of good Asset Management, success is only achieved by ensuring that the right behaviours and attitudes are in place in an organisation.  This article, the tenth article in our ISO 55000 Asset Management series, discusses the behaviours that are essential for good asset management, and the elements that drive these behaviours.

  • WKID PyramidA vital element of effective Asset Management is decision-making that is evidence-based and data-driven. In addition, sufficient, accurate data and documentation must be collected in order to:

    • Meet legal and statutory requirements, and
    • Permit effective communication with stakeholders

    In this article, the 11th in our series on Implementing ISO 55000, we will discuss these elements in the context of ISO 55001.

  • Asset Management Plans Less is moreAsset management is increasingly being recognised as a critical contributor to value across a wide variety of industries. Too often, however, the benefits of asset management are sabotaged by plans that are out of date or not used. Common causes include excessive length, poor ownership, inappropriate structure and broken links to other planning documents.  These can be addressed by analysing the organisation’s context and developing a fit for purpose plan matched to it. Usually, this will result in shorter, simpler documents and this article discusses how to do it.

  • In dealings with our clients, I often find that there is considerable confusion regarding what should be contained in a Strategic Asset Management Plan (SAMP). We have seen SAMPs that are upwards of 200 pages long – a mighty tome that is destined to rapidly become “shelfware” and of little value to anybody. This confusion is exacerbated by the lack of clarity in guidance that is provided in ISO 55000, ISO 55001 and ISO 55002. In our view, it appears that ISO itself (or at least TC251 – the technical committee that put together ISO 55001) is confused regarding its definition of the SAMP. More specifically, they have confused two separate documents – an Asset Management Strategy, and the Strategic Asset Management Plan. We hope that this will be clarified in the next version of ISO 55001, but in the meantime, I outline the reasoning for why improvements are needed below.

    First, let’s make sure we are all on the same page when it comes to terminology.

  • In dealings with our clients, I often find that there is considerable confusion regarding what should be contained in a Strategic Asset Management Plan (SAMP). We have seen SAMPs that are upwards of 200 pages long – a mighty tome that is destined to rapidly become “shelfware” and of little value to anybody. This confusion is exacerbated by the lack of clarity in guidance that is provided in ISO 55000, ISO 55001 and ISO 55002. In our view, it appears that ISO itself (or at least TC251 – the technical committee that put together ISO 55001) is confused regarding its definition of the SAMP. More specifically, they have confused two separate documents – an Asset Management Strategy, and the Strategic Asset Management Plan. We hope that this will be clarified in the next version of ISO 55001, but in the meantime, I outline the reasoning for why improvements are needed below.

    First, let’s make sure we are all on the same page when it comes to terminology.

    Read the full article here.

  • Hydro Tasmania is Australia’s leading producer of renewable energy, with over 100 years of experience producing hydroelectric power.  Owned by the Tasmanian Government, Hydro Tasmania has assets worth around $5 billion and employs over 1100 people.

    Following on from an ISO 55001 Gap Assessment performed by Assetivity, Hydro Tasmania wished to increase the awareness and knowledge of ISO 55000 and Asset Management among key internal stakeholders. Assetivity delivered its Implementing ISO 55000 training course and the results were immediate. Read the full case study now.

    If you are wish to increase awareness and knowledge of ISO 55001 within your organisation call us now and talk to one of our expert consultants. 

    ISO 55001 Asset Management Training Case Study

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  • Hydro Tasmania is Australia’s leading producer of renewable energy, with over 100 years of experience producing hydroelectric power.  Owned by the Tasmanian Government, Hydro Tasmania has assets worth around $5 billion and employs over 1100 people.

    Hydro Tasmania was seeking an independent perspective on its asset management maturity and assistance to establish a roadmap for further improvement.  Learn how Assetivity helped Hydro Tasmania assess its current level of compliance with ISO 55001.  Read the full case study now.

    If you are looking to align your asset management processes with the ISO 55001 standard and with to assess your current level of compliance call us now and talk to one of our expert consultants. 

    ISO 55001 Gap assessment Hydro Tasmania

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  • With a history dating back over 160 years as the first hospital in Australia for women who were pregnant, vulnerable and often destitute, the Royal Women’s Hospital is Australia’s largest specialist hospital dedicated to improving the health of all women and newborns. Each year the Royal Women’s Hospital provides in excess of 250,000 episodes of care for women from 190 countries, who speak 96 different languages and follow 70 separate religious faiths, in a range of comprehensive services from health promotion to clinical expertise and leadership in maternity, gynaecology, women's cancer services and in the specialist care of newborns. The overarching goal of the Royal Women’s Hospital is that patients and consumers are at the heart of everything they do.

    In February 2016, the Department of Treasury and Finance introduced the Asset Management Accountability Framework (AMAF) designed to assist Victorian Public Sector agencies manage their asset portfolios and provide better services for Victorians.   The AMAF is aligned with ISO 55001, the international standard for asset management, but has some additional and different requirements to meet the specific needs of the Victorian Government

    Standing Directions from the Victorian Minister for Finance mandated the application of the AMAF to all Victorian Public Sector agencies with attestation required in compliance reporting for the 2017‑18 financial year. As a Public Sector agency, the Royal Women’s Hospital sought to determine their level of compliance with the AMAF requirements and what actions would be needed to close any gaps.

    Read the full case study now.

    If you are looking to align your asset management processes with ISO 55001 or AMAF standards, and to assess your current level of compliance call us now and talk to one of our expert consultants. 

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  • This article discusses how we think a good Strategic Asset Management Plan should look like and to help you develop a SAMP for your organisation, download our FREE SAMP Template.

  • laptop with logo

    Developed by world class training facilitators from Assetivity, AMtrainingonline specialises in high quality, convenient learning solutions.   Providing you with flexible, low cost training options custimised to your personal and organisational requirements.

    We listen to our clients and understand you want to gain the neccessary competancies for your career development without disrupting your busy schedule. You can excel in your asset management role with our online training courses, which are focused on providing practical tools and skills that can be applied in the workplace. 

    As Endorsed Trainers and Assessors for the Institute of Asset Management (IAM) AMtrainingonline courses are designed to meet the internationally recognised IAM competency framework. 

    Learn at your own pace, select modules that align with your current career ojectives and get real results, fast. 

  • 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.

  • One of the core documents required by ISO 55001 – the global standard for Asset Management – is an Asset Management Policy.  In this article, we will discuss the types of things that this policy should contain, how long it should be, and, most importantly, how you should go about developing this for your organisation.

  • Register Now button

     

     quote krishna

     

    About this Training Course

     

    This comprehensive two-day course provides a detailed work-through of the components of ISO 55001, provides guidance regarding how organisations can demonstrate compliance with each element, and discusses the practicalities of implementing robust Asset Management practices and processes within an organisation, in the context of ISO 55000.  It is an information-packed, practical course for people who are leading and participating in the development, implementation or maintenance of an organisation's asset management system.

    Led by one of Assetivity's CAMA Certified Asset Management Assessors, participants will gain a detailed insight into:

    • Key Asset Management principles
    • The structure and intent of the ISO 55000 series of standards
    • The four fundamentals underpinning asset management
    • The key elements and recommended structure for an asset management system
    • How to use the standards effectively
    • Additional tools and resources available to assist with implementation
    • Implementing improved Asset Management Practices and processes
    • Gaining ISO 55000 certification

     Participants will be involved in class and group discussions facilitated by our course trainer.

     

    Who Should Attend

    This course is intended for personnel responsible for the development, implementation and operation of the asset management system. Typical attendees include:

    • Asset Management Specialists
    • Managers from the Maintenance, Operations/Production, Supply, Project and Finance/Business Departments
    • General Managers and other senior executives

     

    Prerequisites

    The course assumes that participants are familiar with the fundamental concepts of asset management, however a brief refresher on those concepts is undertaken in the first module of this course.

     

    Learning Objectives

    By the end of this course, delegates should (as a minimum) be able to:

    • Describe the structure and intent of the ISO 55000 series of standards
    • Describe the fundamentals of asset management
    • Describe the key elements of an ISO 55001 compliant asset management system
    • Understand how their organisation can demonstrate compliance with the requirements of ISO 55001 
    • Understand how best to implement improved Asset Management processes and systems within their organisation
    • Understand the ISO 55001 certification process and how to seek certification

     

    Assessment

    This course is not formally assessed, though participants undertake case studies and exercises to ensure their new knowledge transfers into practical skills and the confidence to apply them in the workplace. If desired, assessment can be added to in-house courses.

     

    Training Course Duration

    2 Days

     

    Training Course Content

    Asset Management Concepts and Terminology

    • What is Asset Management?
    • What is an Asset?
    • Key Elements of an Asset Management System
    • Principles and Attributes of "Good" Asset Management
    • Asset Management Decision Making concepts

    Overview of ISO 55000, ISO 55001 and ISO 55002 

    • How did we get here? A short history of AM
    • Structure and content of the standards
    • How and why to use these standards (are you seeking alignment, compliance or certification?)

    ISO 55001 Requirements and ISO 55002 Guidance  

    • What are the key requirements, and how should they be interpreted?
      • Organisational Context 
      • Leadership
      • Planning
      • Support
      • Operation
      • Performance Evaluation
      • Improvement
    • What is required to demonstrate alignment or compliance with each of these elements?

    Implementing Improved Asset Management processes  

    • The Asset Management Journey
    • The role and value of a Gap Assessment
    • Where and how do you start?
    • Who needs to be involved?
    • Developing the necessary documentation
    • Developing and assuring Asset Management competence
    • Embedding the processes
    • Creating an "Asset Management" culture
    • Additional Tools and Resources

    Certification

    • The ISO certification process
    • Finding a suitable certification body
    • ISO 17021 - Assessor and Auditor Competencies

     

    Training Course Cost

    $1,700 (ex GST) per person. 

    Early Bird Discount = $201

    Discounts apply for multiple attendees from the same organisation:

    2-3 attendees = $1,530 per person

    4+ attendees = $1,360 per person

     

    Training Course Dates and Registration

    • Click hereto view the dates and locations when this course is currently scheduled to run
    • This course can also be run in-house for your organisation at a time and location that suits you. This email address is being protected from spambots. You need JavaScript enabled to view it. to discuss this further and obtain a price quotation.

     

    Register Now button

  • Our series has already discussed the ISO 55001 requirements for the Strategic Asset Management Plan and Asset Management Plans and also provided practical advice and templates that could be used to create both compliant and usable versions. This article remedies the situation, providing useful advice on how to establish an integrated planning approach that will generate cohesive planning documents. The ISO standards are deliberately not very explicit on this topic, so we are basing this on what we’ve seen work (and fail) in practice.

  • About this Course

    Assetivity offers this training course as a detailed work-through of the main components of ISO 55001 for people who are leading development, implementation or maintenance of an organisation's asset management system.

    Participants will gain a detailed insight into:

    • The structure and intent of the ISO 55000 series of standards
    • The four fundamentals underpinning asset management
    • The key elements and recommended structure for an asset management system
    • How to use the standards effectively
    • Additional tools and techniques to support the standards

     

    Participants will be involved in class and group discussions facilitated by our course trainer.

    Who Should Attend

    This course is intended for personnel responsible for the development, implementation and operation of the asset management system. Typical attendees include:

    • Asset Management Specialists
    • Managers from the Maintenance, Operations/Production, Supply, Project and Finance/Business Departments
    • General Managers and other senior executives

    Prerequisites

    Ideally, participants should be familiar with the basic concepts of asset management, having undertaken Assetivity's A1 – Introduction to Asset Management or equivalent training.

    Learning Objectives

    By the end of this course, delegates should (as a minimum) be able to:

    • Describe the structure and intent of the ISO 55000 series of standards
    • Describe the fundamentals of asset management
    • Describe the key elements of an ISO 55001 compliant asset management system
    • Select an appropriate level of application of ISO 55001 for a specific organisation
    • Provide examples of documents, tools and techniques required to implement an ISO 55001 compliant asset management system

     

    Assessment

    This course is not formally assessed, though participants undertake case studies and exercises to ensure their new knowledge transfers into practical skills and the confidence to apply them in the workplace. If desired, assessment can be added to in-house courses.

    Course Duration

    1 Day

    Course Brochure

    A course brochure can be downloaded from here

     

    Course Content

    Introduction

    • Outline the contents of the training package
    • Introductions to other participants and their roles in AM
    • Objectives of the training course
    • Gain an understanding of what is expected through the course

    Overview of the Standards 

    • How did we get here? A short history of AM
    • And where exactly are we? Structure and content of the standards
    • Use and application (alignment, compliance or certification)

     

    Principles and Terminology

    • Definitions
    • The Fundamentals of Asset Management
    • Asset Management and the Asset Management System
    • Key Elements of an Asset Management System

     

    Requirements and Guidance  

    • The what and why for:
      • Context of the organisation
      • Leadership
      • Support
      • Operation
      • Performance Evaluation
      • Improvement
    • Additional tools and references

     

    Certification

    • The certification standard
    • The ISO certification process
    • Transition from earlier standards

    Course Summary

    Course Cost

    $850 (ex GST) per person. Discounts apply for multiple attendees from the same organisation, following early bird closure. Please download the course brochure for more information.

     

  • Are you familiar with the ISO 55000 international standard?

    ISO 55000, was released in Jan 2014 by the International Organization for Standardisation (ISO) as the new international standard for Asset Management.  

    ISO 55000 will supersede PAS 55, which currently acts as the defacto international standard for Asset Management.

    You can read more in our article on "What is ISO 55000?".

    There undoubtedly has been a lot of questions asked, and we have attempted to answer these in our article "ISO 55000 – Frequently Asked Questions (FAQ)".

    For those working in regulated industries, there is a possibility that economic and/or technical regulators may require certification against ISO 55000 in order to provide independent evidence that their assets are being managed well. For those working outside regulated industries, there is a similar possibility that insurers may also require or request certification against ISO 55000.  In any case, whether undertaking formal certification or not, aligning your organisation's Asset Management system with the requirements of ISO 55000 provides boards and shareholders with a high level of assurance that risks and costs associated with the management of assets are fully and properly considered and optimised. In other words, it just makes good business sense.

    In any case, we see the journey towards alignment of an organisation's Asset Management systems with ISO 55000 as consisting of the following steps:

    • Alignment with ISO 55000 Step 1 – Perform a readiness assessment
    • Alignment with ISO 55000 Step 2 – Build Internal Competence
    • Alignment with ISO 55000 Step 3 – Bridge the Gaps
    • Alignment with ISO 55000 Step 4 – Perform a Gap Assessment
    • Alignment with ISO 55000 Step 5 – Fine tune your Asset Management system
    • Alignment with ISO 55000 Step 6 – Certify against ISO 55000 (optional)

     

    Currently Assetivity can assist you to perform an ISO 55000 readiness assessment. 

    Subscribe to our newsletter to remain up to date.

    Need ISO 55000 training? Read about our 'Implementing an ISO 55000 Compliant Asset Management System' training course.

    Contat us now to speak to an expert consultant.

  • ISO 55000 defines the standards for good Asset Management. If you are interested in improving Asset Management at your organisation, you need to start your journey having a good idea of what lies ahead. Assetivity considers that all organisations interested in implementing best practice Asset Management practices should align those practices with the requirements of ISO 55000, whether they choose to seek formal certification against the standard or not. Our model of the journey towards alignment of an organisation's Asset Management systems with ISO 55000 consists of the following steps:

     

    • Alignment with ISO 55000 Step 1 – Perform a readiness assessment
    • Alignment with ISO 55000 Step 2 – Build Internal Competence
    • Alignment with ISO 55000 Step 3 – Bridge the Gaps
    • Alignment with ISO 55000 Step 4 – Perform a Gap Assessment
    • Alignment with ISO 55000 Step 5 – Fine tune your Asset Management system
    • Alignment with ISO 55000 Step 6 – Certify against ISO 55000 (optional)

    This article covers the first of these steps – performing an ISO 55000 Readiness Assessment.

    No matter what the current level of Asset Management maturity is within your organisation, before attempting to align your Asset Management systems and processes with good practice (as outlined in ISO 55000) it is important that you understand just how big or small a task that will be. This is true regardless of whether you are already certified to PAS 55, or are just starting out on the journey towards better Asset Management within your organisation.

    While you could jump straight in and conduct a full Gap Assessment against the requirements of ISO 55000 (step 4 in our process outlined above), we believe that if some of the fundamental building blocks are not in place in your organisation, then this may lead to false starts and unrealistic expectations regarding the potential costs and benefits.

    In order to maximise the chances of success of an Asset Management improvement and certification initiative, we suggest that a high level Readiness Assessment be performed as the first step in this process. We have developed an approach and tool for conducting this readiness assessment that can be quickly applied to any organisation.

    The readiness assessment covers the following areas:

     

    Management System & Context

    The assessment will check for an understanding of context and alignment with the business context; clear definition of roles and responsibilities; assess the use of decision making criteria and a clear scope for the management system.

     

    Leadership

    The assessment will cover the level of leadership commitment towards asset management and the publication and implementation of an Asset Management Policy. It will also asses if roles and responsibilities are clearly defined.

     

    Planning

    The planning element will be assessed on how the organisation plans to achieve goals and objectives for the asset portfolio and the management system and the process of how asset management plans are developed.

     

    Support Elements

    The readiness assessment will evaluate the process of determining, establishment and managing supporting elements including resources, competence, communication, information and documentation.

     

    Operational Control

    The processes for planning and controlling the implementation of asset management objectives will be evaluated. The implementation of management of change and processes for managing outsourcing will be evaluated.

     

    Performance Evaluation

    The systems for monitoring and evaluating performance and conformance with asset management system requirements will be assessed.

     

    Improvement

    The readiness assessment will review the organisation's processes for dealing with non-conformity, preventive actions and continual improvement of its performance and its asset management system.

     

    Benefits

    Performing this readiness assessment provides the following benefits:

    • A better understanding within your organisation of ISO 55000 management system requirements
    • An understanding of the major opportunities for Asset Management improvement in your organisation.
    • A set of actionable recommendations that can be used to develop a roadmap towards asset management excellence and/or certification against the requirements of ISO 55000.

     

    Whether your aim is to certify or just to align your Asset Management systems and processes with ISO 55000, we recommend performing an ISO 55000 Readiness assessment as the first step.

    This email address is being protected from spambots. You need JavaScript enabled to view it.

    Download our ISO 55000 Readiness Assessment Flyer

  • Our series has already explored the asset management planning and decision making process in some detail in Parts 45 and 6. This is obviously a key process for successful asset management, but it is equally obviously insufficient as the actions identified in the plan(s) will need to draw on other organisational processes.

  • “Management is efficiency in climbing the ladder of success; leadership determines whether the ladder is leaning against the right wall”— Stephen Covey.

    With the ink dry on the ISO 55000 series of standards, asset management is a term of growing importance in many industries. There are significant benefits on the table (see our How Does Asset Management Deliver Value article for more information), but implementation can be a challenge. This paper, written by Scott Yates and Sudarshan Mandloi, explores four key ideas that top management can use to drive the process forward:

    • Be a leader
    • Give direction
    • Allocate resources
    • Reward performance 
  • At this point in the series, we have answered many of the technical questions regarding asset management. This article moves on to some of the human issues – how to build an asset management organisation and how to lead it to success. Nothing happens without an appropriate workforce structure, so let’s start with the organisation chart.

  • In this article Jakob Verhoef discusses how to start the ISO 55000 journey on the right foot.         

  • One of the central tenets underpinning ISO 55000, the international standard for Asset Management, is that organisations perform better when there the goals and activities of all that work within that organisation are aligned.  The better the connections between individuals and departments and overall organisational goals, then the better organisational performance will be. 

    Organisational alignment takes two forms – vertical alignment (a clear understanding of how what each individual does contributes to the achievement of the organisation’s overall goals), and horizontal alignment (ensuring that different functional areas collaborate towards the achievement of common goals).  This article discusses each of these in turn.

     

  • From January 2015 the International Asset Management standard ISO 55000 will replace the PAS 55 (The British Standards Institute specification for Asset Management). 

    The International Asset Management standard ISO 55001 contains a lot of words, and no pictures or graphics. This short 18 minute video explains the key elements of ISO 55001 in a more visual manner, and outlines how they fit together.  It also contains a high level overview of the types of evidence that may be required in order to demonstrate compliance or alignment with each of these elements.

    - ISO 55000 - Overview, Principals & Terminology

    - ISO 55001 - Management Systems - Requirements

    - ISO 55002 - Management Systems - Guidelines for the Application of ISO 55001

  • In this article we discuss how to create a good asset management plan that will work for your organisation.

  • The International Organisation for Standardisation (ISO) released its first series of standards on asset management in January 2014. In our opinion, this was a landmark event in the history of asset management, so we have prepared this article to provide some background on the standards and their implications for the asset management community.

  • 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.

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