Status of the

ISO 55000
Asset Management System
Standard
Michael E. Poland, CMRP
Board Member, ANSI
Corporate Member , IAM
Director of Asset Management, Life Cycle Engineering

ISO 55000 Asset

Management Systems
The release of ISO 55000 Asset Management will
be a seminal event for asset holding organizations
and for all of us as Property and Asset
Management Professionals
How can you leverage this incredible opportunity
to benefit your organization and your career?

The Need for Standards

Risk awareness has become a very high
concern among business executives and
government officials:
The world has suffered from major
industrial disasters, the financial crisis and
great recession, and continued global
instability caused by civil unrest and
economic duress of certain nations
There is a need for an element of stability
and this standard intends to be a leveling
force for international trade
3

Strategic Model

Strategic Plan
Business Objectives
Asset Support

Concept

Design

Asset Operation

Procure

Construct

Asset Utilization
& Performance

Commission
Qualification
Validation

Operate

Physical Asset Portfolio

Asset
Improvement

Maintain

De
commission

Background:
Standards Organizations
ISO International Organization for
Standardization, European based developer
of international standards
ANSI American National Standards
Institute
ASTM ASTM International is a US based
developer of international standards
5

Standards Development
Committees
ASTM E53 ASTM standards committee for
asset management standards, and the ANSI
sanctioned host of the US TAG to TC/251
TC/251 ISO Technical Committee tasked with
developing a management system standard for
Asset Management
US/TAG (US Technical Advisory Group ) - ANSI
sanctioned US group participating in TC/251
6

US/TAG Participating
Organizations

Stratum Consulting Partners

E-ISG Asset Intelligence
Test7

ISO/TC251
Participating Countries
1. Argentina
11. Ireland
2. Australia
12. Italy
3. Canada
13. Republic of
4. Chile
Korea
5. China
14. Netherlands
6. Czech Republic 15. Mexico
7. Denmark
16. Norway
8. Finland
17. Peru
9. Germany
18. Portugal
10. India
19. South Africa

20. Spain
21. Sweden
22. United Kingdom
23. United States of
America
24. United Arab
Emirates
25. Japan
26. France
27. Switzerland

Timeline Status

Mar2011

Month
Stage

Oct2011

Jun2012

Feb2012

April2013

Feb2014

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
WorkingDrafts

May2011 Sep2011
Distribute WD2
WD2
Comments
RCVD

CtteeDrafts

CD2
ForBallot

DIS

Comments
Resolution

FDIS

DIS

February
2014

CD1
ForComment

ISO Definition of
Management System
Management System Set of interrelated
or interacting elements of an organization to
establish policies and objectives, and
processes to achieve those objectives

10

11

ISO 55000
Asset Management System
These standards describe a
Management System for Asset
Management
They do not describe processes for the
management of assets
ASTM E53 standards (and other
guidance) cover lifecycle functions of the
management of assets
12

ISO 55000 Series Structure

ISO 55000: Overview, Principles and
Terminology
ISO 55001: Requirements
ISO 55002: Guidelines
13

ISO 55000: Definitions

Asset something with potential value
to an organization and for which the
organization has a responsibility

14

ISO 55000: Definitions

Asset something with potential value
to an organization and for which the
organization has a responsibility

Value!
15

Asset Management
Asset management enables the
realization of value from assets
Value realization is achieved through
the use of analytical approaches and
implementation processes that have
similar core characteristics, no matter
what the industry
16

ISO 55000: Definitions

Asset something with potential value to an
organization and for which the organization
has a responsibility
Asset System - group of assets that interact
and/or are interrelated so as to deliver a
required business function or service
Asset = Asset System

17

ISO 55000 Series Structure

ISO 55000: Overview, Principles and

Terminology
ISO 55001: Requirements
ISO 55002: Guidelines
18

ISO 55001 and 55002

The ISO 55001 and ISO 55002 documents
share the same structure
ISO 55001 covers requirements
ISO 55002 covers guidance
The details are of course not yet finalized,
but key concepts are unlikely to
significantly change
19

ISO 55001/55002
Structure

The Organization
Leadership
Plans
Support
Operation
Performance Evaluation
Improvement
20

The Organization
Stakeholders, not just shareholders
Triple bottom line - People, Profit and Planet
Quadruple bottom line adds a Spiritual
component

Scope what assets are included?

System interfaces

21

Leadership

Top management involvement

Continual improvement
AM integrated with business processes
Adequate resources available
Establish an Asset Management Policy
Alignment with organizational strategic
plan
22

Plans

Establish an Asset Management Plan

Measurable objectives
Risk management
Monitored and communicated

23

Support
Provide necessary resources
Assure competence of people doing the
work
Awareness
Information requirements
Documentation

24

Operation
Process control
Change management
Control of any outsourced activities

25

Performance Evaluation

Monitor and measure

Analysis and evaluation
Internal audit
Management review

26

Improvement
Nonconformity and corrective action
Preventive action
Continual improvement

27

Management Systems
Assessments
Has anyone participated in an ISO 9001
assessment audit?
Other ISO Management System Audits?
If you have, ISO 55001 assessment audits
will likely look very familiar
28

Whats in it for your organization?

ISO 55000 promises to be a widely recognized and
adopted international standard
Assurance that the right things are being done
Focus is on supporting the mission and objectives
of the organization
Realizing value from the organizations assets
The opportunity to differentiate your organization

29

Whats in it for you as individuals?

Better enable all of us to do our jobs
Increased management awareness of
asset management
More transportable job skills and
expertise
More opportunities

30

Actions
Awareness
Personal awareness
Organizational awareness

Become an ISO 55000 expert

Develop change management skills
Build AM relationships across
organizational silos
Realize value from organizational assets
Start Now!

31

Three Word Summary

32

Three Word Summary

Value

33

Three Word Summary

Visibility

34

Three Word Summary

Opportunity

35

Three Word Summary

Value
Visibility
Opportunity

36

Whats in it for you?

Better enable all of us to do our jobs
Increased management awareness of asset
management
More transportable job skills and expertise
More opportunities