In 2004, the Institute of Asset Management (IAM) sponsored the development of PAS 55, a publicly available specification for the optimised management of physical assets. PAS 55 provides clear definitions and a 28 point specification for establishing and verifying an integrated, optimised, whole-life management system for all types of physical assets. PAS 55 was revised in 2008.
During this same period many other countries were developing excellent documents for guidance in Asset Management. Since 2008, the IAM has been working to encourage the development of a formal International Standard, through the International Organisation for Standardisation (ISO).
BENEFITS
The Standard will provide a common platform which will become a reference point for all asset management professionals and facilitate knowledge transfer and the harmonisation of principles, vocabulary and processes. A number of key benefits will ensue to the asset management community from this Standard as it will:
- Aid in the transfer of knowledge between organisations resulting in improved asset management.
- Enable multi-national organisations to coordinate their asset management processes and systems.
- Provide a framework for asset management generic principles and processes that could be built upon for the advancement of the asset management profession.
PROJECT LAUNCH AND PARTICIPATION
A preliminary meeting in London in June 2010 of 40 representatives from 13 countries voted to be involved in developing an International Standard for Asset Management. It is expected other nations will join in the development effort as the Standard progresses and ISO is actively attempting to broaden the number of countries that participate to ensure global coverage.
PROJECT GOVERNANCE
A new International Standards Organisation Project Committee (ISO/PC 251 Asset Management) has been established to develop the ISO standard. Membership of the Committee comprises the participating countries and each member receives one vote. Chairmanship and secretariat will be determined at the first meeting of the ISO/PC 251 Committee.
PROGRESS TO DATE AND IMPLEMENTATION PLAN
Significant progress was made at the London preliminary meeting to propose a scope for the first meeting to consider. The Proposed Scope is: Standardisation of management systems for asset management. The first meeting of ISO/PC 251 is scheduled for February 2011 in Melbourne, Australia. Completion of the work program is expected in 2013 at which time Standards Organisations from all participating countries will formally consider whether to adopt the new standard.
PARTICIPATING COUNTRIES
Australia
Austria
Canada
Czech Republic
Finland
Japan
USA
France
UK
Portugal
Sweden
Netherlands
AUSTRALIAN INPUT AND REPRESENTATION
AUSTRALIA’S MIRROR COMMITTEE STRUCTURE
Australia is taking an active role in the development of this International Standard in order to maximise the input from existing world-class Australian Standards, as well as position Australia as a thought leader in the field of asset management. To achieve this, a mirror committee (MB-019 Asset Management) has been formally established by Standards Australia using its Committee driven process. The first meeting of the Australian Mirror Committee was held in Perth/Sydney in September 2010, and attended by representatives from academia, government, research and private organisations. Participation on Australian Committee MB-019 Asset Management is as follows:
COMMITTEE MEMBERSHIP (AT 30 SEPT 2010): Asset Management Council, Association of Professional Engineers, Scientists and Managers, Australian Petroleum Production and Exploration Association Austroads, CRC Engineering Asset Management, CRC Mining, Energy Networks Association, Infrastructure Australia, Institute of Public Works Engineering Australia, National Offshore Petroleum Safety Authority, University of Western Australia, Water Services Association of Australia.
Dr Melinda Hodkiewicz of the University of Western Australia is the Chair of MB-019.
To enable a wide spectrum of input across a cross section of industries membership is encouraged from peak bodies. Any organisation keen to participate in developing the Standard is encouraged to contact the Australian Mirror Committee Chair for further details. For further information about the project or committee membership please contact Melinda Hodkiewicz.
Contact details: Melinda.hodkiewicz@uwa.edu.au Telephone 08 6488 7911