This document addresses a simple question: Do you mean Asset Management or Managing Assets?
News and updates
ISO/TC 251 has held its fourth meeting in March 2017 in Brisbane, Australia. Following the October 2016 meeting two new work item proposals had been launched, along with a ballot on a Committee Draft for the revision of ISO 55002 Asset management -- Management systems -- Guidelines for the application of ISO 55001. The new work item proposals concerned the development of ISO/TS 55010 Guidance on alignment of asset management, finance and accounting and ISO 55011 Guidance on the development of government asset management policy.
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.
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