The 4 Fundamentals of Asset Management in ISO 55002By Boudewijn Neijens
The original ISO 55000 suite of asset management system standards was launched in 2014 – and the past four years have taught us a lot about how the standards are being implemented and where additional guidance was necessary. This led TC 251, the technical committee managing the ISO 55000 series, to initiate a complete rewrite of ISO 55002. General improvements include expanded detailed guidance for every clause of the 55001 requirements document, and clarification of the contribution of each requirement to the four ‘fundamentals’ of asset management:
- Value – assets exist to provide value to the organization and its stakeholders
- Alignment – asset management translates the organizational objectives into technical and financial decisions and plans
- Leadership – leadership and workplace culture are determinants of realization of value
- Assurance – asset management gives assurance that assets will fulfill their required purpose
The new standard has doubled in size – largely because of seven new sections offering great hints on how to address key cross-cutting subjects within the standard such “value”, risk management, finance, decision-making and the SAMP. I’m happy to report that Copperleaf’s state-of-the-art Asset Investment Planning and Management (AIPM) solution C55™ is in perfect alignment with the new guidance, especially in the areas of value-based decision-making and alignment with finance.
More information on how Copperleaf C55 can help you make higher value decisions, improve performance, and manage risk, in alignment with the key principles of ISO 55000 be found here.