Asset Management

Overview
Vlad Bacalu
July 2016
ISO and
National Standards Organizations
About ISO
• ISO is an independent, non-governmental international organization
with a membership of 163 national standards bodies.
• Based in Geneva Switzerland
• ISO Member Organizations as they relate to GFMAM Members:
SMRP, USA – ANSI IAM, UK – BSI
AMC, Australia – JAS-ANZ IFRAMI, France – AFNOR
ABRAMAN, Brazil – ABNT JIPM, Japan – JISC
EFNMS, European Federation PEMAC, Canada – SCC
GSMR, Gulf States SAAMI, South Africa – SABS

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Asset Management as
Defined by ISO 5500x Standard
Role of IAM in the Development of PAS 55
About IAM

1994 Institute of Asset Management

Founded

1995 – 1999 UK Privatization of Utilities

2000 IAM Creates Corporate Platform for Asset Management

2002 IAM Starts Asset Management Practices

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PAS 55
2004 IAM/BSI Publishes PAS 55:
Optimized Management of Physical Assets
Part 1: Requirements
Part 2: Implementation
2004 IAM Creates Toolkit for Self Assessment
Covering the 28 Areas Listed in PAS 55
Later modified to align with ISO 55001: 2014
2008 BSI Creates PAS 55: 2008
Revision based on input from 50 companies, in
15 industries, located in 10 countries
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PAS 55: Plan-Do-Check-Act

PAS 55: 2008 Plan-Do-Check-Act Model 7

ISO Activities

Aug 2010 ISO Creates Project Committee 251

2011 – 2013 ISO Plenary Meetings

(Melbourne Australia … Calgary Canada)
Feb 2014 Launch of ISO 5500x in London UK
To be applied to all types of assets and
by all types and sizes of organizations

2015 BSI Withdraws the PAS 55: 2008 Specification

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ISO 5500x: 2014 Asset Management Standard
• ISO 55000: 2014 – Overview, Principles, and Key Terms in Asset
Management – WHY
• ISO 55001: 2014 – Asset Management: Management Systems
Requirements – WHAT
• ISO 55002: 2014 –
Guidelines for Implementation
of ISO 55001 – HOW

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Asset Management & Asset Management System

ISO 55000: 2014 Asset Management and Asset Management System Model 10
PAS 55 vs. ISO 5500x

PAS 55: 2008 ISO 5500x: 2014

• Publicly Available Standard for the • International Standard for Any Type of
Optimal Management of Physical Asset
Assets • Creates a link between Asset
• Development led by IAM then revised Management, Corporate, and Financial
by BSI Objectives
• Offers 28-point Checklist of • Asset = Everything an Organizations
Requirements for an Effective Physical Owns, or Has Jurisdiction Over, and
Asset Management Program Uses to Create Value to the
Organization

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Other Relevant ISO Standard
ISO 17021: 2014 – Conformity assessment: Requirements for bodies
providing audit and certification of management systems

Part 5: Competence requirements

for auditing and certification
of asset management systems

ISO 17021 Structure 12

Assessor and Training Provider Competency
2010 IAM Creates Endorsement schemes for
recommending competent Assessors and
Training Providers

2014 GFMAM Publishes Competency Specification for an

ISO 55001 Asset Management System
Auditor / Assessor

2014 WPiAM Launches the

Certified Asset Management Assessor (CAMA)
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IAM Toolkit for Self Assessment

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International Documents on
Asset Management

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ISO 5500x: 2014 Asset Management Standards

19 Pages 14 Pages 32 Pages

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GFMAM Published AM Documents

57 Pages 11 Pages 18 Pages 27 Pages

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Other AM Documents from GFMAM Members

130 Pages Pages 84 Pages 18 Pages

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Questions and Comments
Vlad Bacalu
Director, Reliability & Technical Services
[email protected]
Appendix
PAS 55: 2008 = 28 clauses,
ISO 55001: 2014 = 27 clauses,
GFMAM Landscape = 39 subjects in 6 subject groups
PAS 55: 2008 Clauses
4.1. General Requirements 4.5. Implementation of Asset Management Plans
4.2. Asset Management Policy 4.5.1. Life cycle activities
4.3. Asset Management Strategy, Objectives, & Plans 4.5.2. Tools, facilities, & equipment
4.3.1. Asset management strategy 4.6. Performance Assessment & Improvement
4.3.2. Asset management objectives 4.6.1. Performance & condition monitoring
4.3.3. Asset management plans 4.6.2. Investigation of asset related failures, incident &
4.3.4. Contingency planning non-conformities
4.4. Asset Management Enablers & Control 4.6.3. Evaluation of compliance
4.4.1. Structure, authority, & responsibility 4.6.4. Audit
4.4.2. Outsourcing of asset management activities 4.6.5. Improvement actions
4.4.3. Training, awareness, & competence 4.6.6. Records
4.4.4. Consultation, participation, & communication 4.7. Management Review
4.4.5. Asset management system documentation
4.4.6. Information management
4.4.7. Risk management
4.4.8. Legal & other requirements
4.4.9. Management of change

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ISO 55001: 2014 Clauses
4. Context of the Organization 7. Support
4.1. Understanding the Organization and its Context 7.1. Resources
4.2. Understanding the Needs and Expectations of the 7.2. Competence
Stakeholders 7.3. Awareness
4.3. Determining the Scope of the Asset Management 7.4. Communication
System 7.5. Information Requirements
4.4. Asset Management System 7.6.1. General Documentation
5. Leadership 7.6.2. Creating & Updating
5.1. Leadership and Commitment 7.6.3. Control of Information
5.2. Policy 8. Operation
5.3. Organizational Roles, Responsibilities, & Authorities 8.1. Operational Planning & Control
6. Planning 8.2. Management of Change
6.1. Actions to Address Risks & Opportunities for the 8.3. Outsourcing
Asset Management System 9. Performance Evaluation
6.2.1. Asset Management Objectives 9.1. Monitoring, Measurement, Analysis, & Evaluation
6.2.2. Planning to Achieve Asset Management 9.2. Internal Audit
Objectives 9.3. Management Review
10. Improvement
10.1. Nonconformity & Corrective Action
10.2. Preventive Action
10.3. Continual Improvement
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GFMAM & IAM Asset Management Landscape
Strategy & Planning Asset Information
1. Asset Management Policy 22. Asset Information Strategy
2. Asset Management Strategy & Objectives 23. Asset Information Standards
3. Demand Analysis 24. Asset Information Systems
4. Strategic Planning 25. Data & Information Management
5. Asset Management Planning Organization & People
Asset Management Decision Making 26. Procurement & Supply Chain Management
6. Capital Investment Decision Making 27. Asset Management Leadership
7. Operations & Maintenance Decision Making 28. Organizational Structure
8. Life Cycle Value Realization 29. Organizational Culture
9. Resourcing Strategy 30. Competence Management
10. Shutdown & Outage Strategy Risk & Review
Life Cycle Delivery 31. Risk Assessment & Management
11. Technical Standards & Legislation 32. Contingency Planning & Resilience Analysis
12. Asset Creation & Acquisition 33. Sustainable Development
13. Systems Engineering 34. Management of Change
14. Configuration Management 35. Asset Performance & Health Management
15. Maintenance Delivery 36. Asset Management System Monitoring
16. Reliability Engineering 37. Management Review, Audit, & Assurance
17. Asset Operations 38. Asset Costing & Valuation
18. Resource Management 39. Stakeholder Engagement
19. Shutdown & Outage Management
20. Fault & Incident Response
21. Asset Decommissioning & Disposal 23