Improving Alignment between Technical and Financial Management within Organizations

ISO/TC 251 held its second meeting in June 2016, where it’s Chairman’s Advisory Group and four working groups had held their first face-to-face meetings. The 3rd meeting enabled each of them to progress their activities.

So what is this suite of standards all about? The key issue to bear in mind from the start is that organizations have been managing assets for a long time. In most organizations, there are enthusiastic and competent groups of engineers seeking to improve their assets and contribute to their business. However, for most of them, they are bombarded by initiatives for safety, the environment, cost reduction and a myriad of other important ideas. The trick to a successful organization is in bringing all of these well-intended initiatives together with excellent reliability engineering to deliver organizational value. And there lies the challenge for most organizations.

The primary purpose of the 1st meeting of the TC was to receive feedback from its members on the adoption and use of the standards since their publication, and to plan the programme of work for the TC into the near future.