Why an Asset Management Standard is Needed

Currently, the International Standards Organisation (ISO) is developing the ISO 55000 Series of Standards for the management of assets – Asset Management. The ISO committee (ISO PC 251) comprises some 32 participating countries – Australia being one of those.

The completed suite of three asset management ISO standards is expected to be available to the public in 2014.

The proposed Standards are performance based (certainly not prescriptive) and while introducing the subject of asset management also specify the requirements for an asset management system to manage assets and asset systems over their life cycles. Some information on tailoring the asset management system is also provided.

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ISO PC 251 Asset Management – Meeting

Introduction

ISO PC 251 recently completed the third of its international meetings to develop a suite of asset management standards being:

  1. ISO 55000 Asset Management – Overview, principles and terminology
  2. ISO 55001 Asset Management – Management Systems – Requirements
  3. ISO 55002 Asset Management – Management Systems – Guidelines on the application of ISO 55001

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Framework for Asset Management Body of Knowledge

AMBOK-webThe Asset Management Council has released a technical publication titled ‘Framework for Asset Management Body of Knowledge’ to provide a common asset management language for better communication within organisations and across industries.

The publication discusses key asset management elements including demand management, systems engineering, configuration management, acquisition, operations and maintenance, continuous improvement, business management, and culture and leadership.

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