Why is ISO 55001 required?

ISO has developed a series of management program standards to help organizations improve their performance. Management Plans build an organizational culture of continuous improvement, visionary leadership, employee appreciation and stakeholder engagement. Organizations use management systems to focus on policies, objectives and processes to better achieve the objectives of the organization.

The standard of ISO 55001 helps organizations get the most value out of their assets. It does not focus on the asset, but on the value the asset provides to the organization. Asset Management translates organizational objectives into technological strategies and financial decisions by aligning leadership with employee culture, and providing assurance that assets will achieve their desired purpose.

ISO 55001 provides a systematic way to link value derived from assets for organizational purposes. The ISO 55001 standard provides the foundation and framework for organizations to ensure that assets, assets and services are effectively and efficiently managed to improve operational and risk functions, to achieve organizational performance goals and impact on our quality of life.

The main purpose of ISO 55001 is to acquire the best assets for the benefit of the organization and its stakeholders. The Asset Management System provides a comprehensive approach that can reduce the cost of ownership of an asset or asset portfolio throughout the life cycle, reduce the risk of cracks and other disruptions and improve the bottom line.

ISO 55001 is a top-down approach where decisions begin at the boardroom and thus align the asset management strategy with the business plan. The ISO 55001 model provides a structured framework for asset management in the organization and its provision in a transparent manner. It also provides senior management with regular analysis of risk, opportunity and asset performance to inform ongoing decisions.

Some ISO 55001 documents kit is helpful for the implementation of asset management. Examining or analyzing the gap is likely to indicate that many of the ways in which an organization manages its assets can currently meet the requirements of ISO 55001. However, in some areas, analysis will present significant weaknesses. Generally, these include:

1. Adopting a prudent approach to asset management has a strategic approach
2. Poor communication and cooperation between important functions; sometimes we unknowingly work together
3. Lack of input from operations and maintenance activities to the decision-making that occurs during asset development
4. Inventory Management is limited to construction planning, operations and maintenance activities
5. Lack of estimation of actual costs to the business of asset failure and downtime
6. Understanding too much reliance on effective responses to problems and incidents as they occur can be an effective preventive measure
7. Failure to show a good balance or costs, opportunities and risks compared with the desired performance of assets to achieve organizational objectives
8. Leave property management especially for maintenance work while neglecting the greater consistency with other functions and installation required of them
9. Insufficient control of asset management data and data, especially during the phases of asset life cycle. For example, difficulties in obtaining design and construction information during equipment operation and repairs
10. Lack of resilience also joins thinking when it comes to assessing and sharing information on assets and asset performance
11. Insufficient arrangements to gather and disseminate lessons learned from one asset or group of assets to another.

With ISO 55001, you can develop a robust and effective Asset Management System and for ISO 55001 certification – Click here

Source: documentationconsultancy.wordpress.com