ISO 55000 (the new International Standard for Asset Management) emerging from PAS 55 successes
PAS 55 (the British Standard’s requirements specification for the optimal management of physical assets) is being used as the basis by the International Standards Organization (ISO), for the first ever International Standard for Asset Management. This will be published in 3 parts:
- ISO 55000 will provide the overview, concepts and terminology in Asset Management
- ISO 55001 will specify the requirements for good Asset Management practices - the 'Asset Management System' (NB this is not a specification for an asset information management system, such as an EAM or CMMS software tool)
- ISO 55002 provides interpretation and implementation guidance for such an Asset Management System.
The ISO 5500x family of standards will also align and integrate with other major management systems specifications, so that an integrated approach can be established for good practices on all key aspects of professional operations. These include ISO 9001 for quality management, ISO 14001 for environmental management, OHSAS 18000 for occupational health and safety, and ISO 31000 for risk management.
BSI PAS 55 has been an international success story since 2004 – increasingly recognized as a cornerstone of good practices in the whole life cycle, optimized management of physical assets. It has been greeted as an essential, objective definition of what is required to demonstrate competence, establish improvement priorities and make better, more transparent connections between organizational strategic plans and the actual day-to-day work and asset realities. As witnessed by its rapid take-up around the world in different industry sectors, such a reference standard is proving extremely valuable in de-silo’ing organizations, forcing long-term thinking and encouraging net value-for-money to be the basis for cost, risk and performance decision-making.
TWPL has been at the heart of these developments from the start. John Woodhouse, Managing Director of TWPL, was Project Director for the Institute of Asset Management in the development of PAS 55 from its inception, and other TWPL personnel have been on the core development team throughout. John has also been UK Principal Expert to the ISO Committee responsible for developing the ISO standards, while Alex Thomson, TWPL Principal Consultant, is a member of the national level (UK) 'mirror' committee.
The ISO developments are now complete and approved by the 31 participating countries, and are expected to be published in January 2014.
ISO 55000 Press articles
Recent articles written by John Woodhouse, Chair of the Experts Panel for the Institute of Asset Management: