ISO 55000

AIPM aligns with ISO 55000

Realize the highest value from your assets

ISO 55001 and its predecessor PAS 55, set the standard for the management aspects of asset management, spanning the full life cycle of your assets. The Copperleaf® Decision Analytics Solution provides the analytics and decision-making framework, allowing your organization to build and maintain optimal asset plans taking into consideration value creation, risk tolerances, multiple financial and resource constraints, and performance obligations. It gives your organization the confidence it is achieving the highest return on investment for its assets in full alignment with ISO 55001.

With Copperleaf, we’ve aligned our procedures with best practices outlined in the ISO 55000 asset management standard. We now have a transparent picture of all of our major asset classes, and can compare different investment scenarios for both short-term and long-term planning to help us make the best use of our resources. Overall, it’s given us greater confidence in our decision making, and our ability to plan for the future.”

Einar Mathiesen Executive Vice President, Energy Division, Landsvirkjun National Power Company of Iceland

Three of the core concepts of ISO 55001 are value, alignment and assurance. Copperleaf helps you implement and conform to the standard on all three fronts:

Value: you invest in assets because of the value they contribute to your organization. The unique Copperleaf Value Framework allows organizations to accurately express how value is defined and used to compare different investment options. Mitigating the risk of assets failing in operation is often a key value component of sustainment investments. The Copperleaf Product Suite offers you a comprehensive risk framework to define and quantify multiple risk types.

Alignment: each decision needs to support the organization’s strategic objectives, thereby addressing and balancing the needs of all stakeholders. In Copperleaf Portfolio™, every candidate investment is valued based on its alignment with your strategic objectives, allowing you to build project and program portfolios that deliver the highest value under multiple financial, timing, resource and equipment constraints.

Assurance: decision making needs to be a rigorous, transparent and defensible process. Copperleaf Portfolio is an enterprise-class solution that includes fully auditable workflows, decision-making logic, and approval cycles. It allows you to compare planned and actual spend, resource consumption, and project benefits to ensure optimal project execution at all times. ISO 55001 insists on the need for robust risk management. Copperleaf Asset™ helps you analyze your entire asset base, identifying today’s risks and modeling future risk changes with time. It can highlight which assets need attention and link them to existing or future investments.

Read our white paper on AIPM as a best practice of ISO 55000 to get the full story.