{"id":51176,"date":"2020-07-15T09:58:06","date_gmt":"2020-07-15T09:58:06","guid":{"rendered":"https:\/\/tbsite.dev.tbmaestro.net\/uncategorized-en\/iso-55000-for-a-winning-asset-management-strategy\/"},"modified":"2020-07-15T09:58:06","modified_gmt":"2020-07-15T09:58:06","slug":"iso-55000-for-a-winning-asset-management-strategy","status":"publish","type":"post","link":"https:\/\/www.tbmaestro.ca\/en\/assets-management\/iso-55000-for-a-winning-asset-management-strategy\/","title":{"rendered":"ISO 55000: For a winning asset management strategy"},"content":{"rendered":"\n
<\/div>\n\n

Asset management<\/a> can be a balancing act, requiring a trade-off between regulatory, financial, technical, or environmental constraints. In order to support asset managers, ISO 55000 standards aim to set up a comprehensive management system to structure asset management within an organization. And you don’t need to have a large real estate or infrastructure portfolio to be interested in it.<\/p><\/blockquote>\n\n

<\/div>\n\n

ISO 55000: An answer to changing practices<\/strong><\/h4>\n\n

Minimizing risks and costs, maximizing the value produced by an asset, or meeting contractual and regulatory constraints are all part of an often complex equation. This is all the more essential in the context of increasing scarcity of economic and natural resources. Guiding asset managers towards these objectives is essential in order to move away from “managing the asset”<\/g> \u2013 i.e. administering mainly to promote the interests of the asset owner – to the more subtle “asset management”<\/g> \u2013 which combines planning, organization, management, evaluation and communication with a set of key players who sometimes have divergent objectives, but who ultimately identify common objectives. <\/p>\n\n

It is in this spirit that the BSI (1)<\/em> published in 2004 the standard “PAS-55: Specifications for the optimized management of physical assets (2)”<\/em>, revised in 2008. This certification has been acclaimed by many private and public organizations for introducing something new to replace old asset management methods. It is on this basis that the ISO 55000 series of standards for asset management was developed between 2010 and 2014. Divided into 3 parts, it aims to define asset management and implement the associated management system.<\/p>\n\n

(1) BSI Group : The British Standards Institution is the UK’s standardization body.<\/em> <\/p>\n\n

(2) PAS 55 : Publicly Available Specification of the BSI Group on asset management. <\/em>.<\/p>\n\n

<\/div>\n\n

Towards more cross-functional management of assets<\/strong> <\/h4>\n\n

ISO 55000 provides a widely accepted definition of asset management as “the coordinated activities of an organization for the purpose of generating value from assets”. The key point is that it is not an extension of maintenance. Indeed, asset management is a cross-cutting discipline that involves the activities of designing, building, operating, maintaining, renewing, and disposing of assets. In short, the activities of players at all levels of an organization, who interact throughout the life cycle whether for commercial, technical, financial, etc. functions, are all part of the asset management process. Thus, an asset management system ensures the coordination of all activities, resources, and data related in any way to the assets. <\/p>\n\n

It puts in place processes to ensure that all players play their part in a common vision for managing assets throughout their lifecycle, regardless of the size and scale of the organization.<\/p>\n\n

<\/div>\n\n

The objective of ISO 55000 is simple: to achieve and ensure the highest level of asset performance by balancing the organization’s costs, risks, and opportunities.<\/p><\/blockquote>\n\n

<\/div>\n\n

A management system based on four fundamentals<\/strong><\/p>\n\n

\"\"