ISO 55000 is about using the organisation’s assets for maximal gain

Important Note: If unsure of the background to the ISO 55000 standard, read the "S820: What is Asset Management and how does it differ from Maintenance" page.

The discipline of Asset Management is increasingly important. In Asset Management full regard for achieving maximum benefit from the organisations’ assets is intended. Such expertise draws from all functions within an organisation: from business, financial, human resources, as well as operations and maintenance management. It is particularly challenging, therefore, to gain a good understanding of the discipline across the whole breadth of the knowledge base.

The ISO 55000 standard assists asset intensive businesses to achieve excellence in Asset Management. This is of critical importance when dealing with shareholders and regulators, who expect first-class results from the business’ assets.

In deciding whether Asset Management is for your organisation, consider the following questions:

• Do you understand the risk profile associated with your asset portfolio and how this will change over time?
  
• Can you demonstrate the business consequences of reducing/increasing your capital investment or maintenance budgets by 10% over the next five years?
  
• Can you justify your planned asset expenditures to external stakeholders?
  
• Can you easily identify which investment projects to defer when there are funding or cash flow constraints?
  
• Do you have the appropriate asset data and information to support your Asset Management decision-making?
  
• Do you know if your people have the right competencies and capabilities to manage your assets?
  
• Do you know which Asset Management activities to outsource?
  

The ISO 55000 set (ISO 55000, ISO 55001, ISO 55002) of International Standards is primarily intended for use by:

• Those involved in the establishment, implementation, upkeep and improvement of an asset management system
  
• Those involved in delivering asset management activities and services
  
• Those needing to assess an organisation’s ability to meet legal, regulatory and contractual requirements

Course Content

Who Should Attend

Maintenance Managers, Maintenance Engineers, Reliability Engineers, Production Managers, Business Managers.