Delivering an Asset Management Mandate meeting the requirements of ISO55000:2014

This project provided ATCO with decision making capability, sustainable processes and associated performance and condition metrics which are required to meet the challenges it faced
Contract Objectives

ATCO Electric develops regulated distribution and transmission projects and plays a key role in the growth of Alberta’s industrial sector. Headquartered in Edmonton with 38 offices throughout its service area, ATCO Electric serves nearly 224,000 customers in energy-rich northern and east-central Alberta. With more than 85 years of experience and approximately, 900  employees serving 245 communities, the company builds, operates, and maintains a safe, reliable system of approximately 11,000 km of transmission lines and 69,000 km of distribution lines.

The Woodhouse Partnership was engaged to assist ATCO Electric to develop its asset management capabilities in support of its organizational objectives. The high-level approach to this mandate included:

  • Carry out an assessment and gap analysis against ‘BSi PAS 55: 2008 Asset management: Specification for the optimized management of physical assets.’
  • Develop a Roadmap for gap closure and provide asset management expertise to create the Asset Management System including necessary business and technical processes.
  • Develop an Implementation plan and associated activities and implement the asset management system.


Activity Description

This project was delivered using strong program governance and short interval control, engaging with ATCO Electric working in partnership with ATCO staff to ensure the program delivered their expectations. Activities included:

  • Carrying out interviews, workshop sessions, and document reviews across all areas of the business and at all levels from the president to the technician.
  • Development of a prioritized asset management development roadmap that included all initiatives within the organization.
  • Development of technical process such as; Risk Management, Asset Condition and Performance metrics and processes and Asset Criticality, Life Cycle Evaluation Methods, and Asset Life Prediction Models
  • Creation of an Asset Management System that meets the requirements of ISO 55001: 2014 Asset management — Management systems — Requirements. Including:
    • Development of organizational objectives and associated asset management objective
    • Creation of an Asset Management Policy
    • Developing a Strategic Asset Management Plan to include stakeholder requirements
    • Definition of organizational roles and responsibilities
    • Definition and documentation of asset management planning processes, including Capital Expansion, Capital Maintenance, Operations & Maintenance, and processes for integrating these plans.
    • Determined Asset Management System documentation requirements
    • Creating an Asset Information Strategy and associated improvement plan
    • Developed Asset Management Competence Frameworks
    • Defined processes for executing Asset Management Plans
    • Developed and delivered Asset Management Awareness and Communication material and associated process
    • Developed an Asset Management Scorecard and associated processes
    • Developed Asset Management Audit and Management Review Process
    • Developed Continual Improvement Processes including non-conformity and preventive actions processes and root cause analysis methods.
    • Develop an implementation plan associated with technical training required to implement the Asset Management System


A key element of this mandate was to provide coaching and mentoring support for ATCO Asset Management Office team to transfer asset management knowledge and expertise to ATCO to establish a sustainable Asset Management culture.

Contract Project Outcomes

The principle deliverable of this mandate is an Asset Management System that meets the requirements of ISO 55001:2014 and provides ATCO Electric with asset management capability that will enable it to deliver its business objectives.   This mandate provides ATCO with decision-making capability, sustainable processes, and associated performance and condition metrics that are required to meet the challenges it faces such as Performance-Based Regulation and Competitive Capital Programs.


“The Woodhouse Partnership was an invaluable resource in helping us formalize and implement an asset management system throughout our company. their extensive knowledge in Asset Management allowed us to align our business with ISO 55001 standards. We’ve always managed our assets and now, through a structured management system, we are able to make consistent, repeatable decisions, looking at the trade-off between cost, risk, and performance while engaging all internal and external stakeholders over the life of the asset.”

Sett Policicchio
President, ATCO Electric

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Aleck Santamaría De La Cruz

Executive in Operational Excellence, Asset Management and Best Practices in Projects, Operations and Maintenance in the Energy and Industrial Sector.
Consultant, Instructor and International Lecturer on issues related to project management (risk management), operational reliability, strategic management of operations, maintenance, Asset Management in the energy sector (ISO 55001) and Applied Data Analytics.
PMP, CMRP, IAM and CAMA certifications, being recognized by the SMRP in 2019 as CMRP of the Year

George Galambos

George has over twenty-five years of experience as a consulting engineer providing design, planning, program and project management, and strategic asset management services for asset-intensive organizations in the Americas, Africa, and the Middle East. His primary focus has been in the public infrastructure sector; as a result, he has intimate knowledge of the assets, processes, and resources necessary to deliver and sustain safe, reliable services to the customers of public asset-owning organizations.

George has assisted organizations with the development of PAS 55, ISO 55000, and GFMAM AM Landscape aligned asset management systems (AMS), has performed gap analyses of their AMS against industry standards and best practices, and has guided them through the creation of strategic asset management plans (SAMPs), asset management plans (AMPs), AM policy and supporting documents. He has undertaken asset risk modelling to ascertain organizations’ capability to sustain their desired levels of service. George has performed asset health-informed lifecycle cost modelling and forecasting capital and operational expenditures over near and long-term planning horizons.

John Woodhouse

With 30 years’ experience in utilities, oil & gas, transport and other sectors, John is one of the most widely known experts in integrated asset management projects for some of the largest companies in the world.

John is a Founder and Life Fellow of the IAM; he has written 4 books, chaired the development of BSI PAS55 and represents the UK on the ISO55000 committee.

He also led the international MACRO and SALVO collaboration projects in optimised asset management decision-making.

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