Communiqué on the 7th meeting of ISO/TC 251 Asset Management

Communiqué on the 7th meeting of ISO/TC 251 Asset Management

By Charles Corrie


ISO/TC 251 has held its 7th meeting in May 2019 in Nanjing, P.R. China. Ballots for ISO/DTS TS 55010 Guidance on alignment of financial and non-financial functions in asset management and ISO/CD 55011.2 Asset management – Guidance for  public policy makers had been conducted prior to the meeting and received approval, together with comments and suggested improvements. ISO/DTS 55010 is planned for publication in Q3/2019 and ISO/CD 55011.2 will be released to DIS by November 2019.

ISO/TC 251 had held its 6th meeting in October 2018. Following the meeting ISO/DTS 55010 Guidance on alignment of financial and non-financial functions in asset management and ISO/CD 55011.2 Asset managementGuidelines for public policy makers were circulated for ballot. Both were approved and received a number of comments suggesting improvements.

The 7th meeting noted that the membership of the TC now stands at 32 P-members (increase of 3), 15 O-members (decrease of 1) and 31 Liaisons (increase of 2).

The Chairman’s Advisory Group (CAG) held a meeting the day before the TC’s opening plenary, where it gave consideration to:

  1. The poor response from members for inputs into the revision of the TC’s Strategic Business Plan, which would mean that its revision would have to be deferred to a later date.
  2. The activities of WG3 in managing the TC251 website (; preparing launch materials for the publication of ISO/TS 55010; preparing a welcome pack for new delegates.
  3. The approach that WG4 would take towards reviewing proposals for new projects, especially for website articles, papers or other non-formal projects.        
  4. An update on 10 project proposals and their progress through their WG4 reviews
  5. The work of WG5 in completing the review of comments received against ISO/DTS 55010 and preparing the approved TS for publication.
  6. The work of WG6 in providing inputs into the revision of the Annex SL “High Level Structure” and in progressing a number of new project proposals along with WG4
  7. The work of WG7 in continuing its review of comments received against ISO/CD 55011 and in preparing a Draft International Standard.
  8. How the target date for the completion of the revision of the Annex SL "High Level Structure" coincides well with the next systematic reviews of ISO 55000 and ISO 55001, and any need to revise them.
  9. The first meeting of ISO/TC322 Sustainable finance, which could have resulted in overlaps with the work of TC251. Instead TC322 seemed to have focussed more on the relationship of finance to climate change issues than a broader scope of sustainability issues.
  10. Planning for future meetings of the TC and WGs.

An additional CAG meeting was held mid-week to consider 8 project proposals that had completed their WG4 reviews to decide if they should be taken forward, as well as to which WG the agreed projects should be assigned.

On the Thursday, the members of TC251 were invited to attend a workshop on asset management, hosted by Dr Qui Yueming, Vice President of CNIS. A number of presentations were given, including:

  • by Rhys Davies, Chair ISO/TC 251, on “State of Affairs and Future Outlook on the Standardization of Asset Management”
  • by Zhou Guangjun, President of the Jiangsu Institute of Quality and Standardization, on “Standardization drives innovation ad development in Jiangsu Province”
  • by Dr Hu Jun, China National Offshore Oil Corporation, on “Asset Integrity Management CNOOC”
  • by Ms. Na Ling, Copyright protection centre of China, on “The Importance of Standardization Construction of Copyright Asset Management”
  • by Prof. Li Baowen, Guangzhou University, on “CAPE10001-Plant Asset Management Standard that helps ISO 55000 executable”
  • by Lu Yugang, President of the Red Sun Group, on “Operational asset allocation specification for markets of agricultural products”
  • as well as country/ regional perspectives on asset management for:
  • Argentina/Latin America, by Norberto Levin
  • Australia, by David Daines
  • China, by Dr Gao Ang
  • Finland, by Jyrki Paavelainen
  • France, by Celso De Azevedo
  • Japan, by Naoki Takesue
  • Netherlands, by Bram Alkema
  • Portugal, by Rita Salgado Brito
  • Russia, by Vladimir Rostic
  • USA, by Prof. Thomas Smith

At the closing plenary meeting:

a) The Chair reported that:

  • The additional CAG meeting had consolidated several of the new project proposals and determined that many of them needed to be scoped in more detail prior to going forward. The majority had been assigned to WG6, with one to WG4 and one to WG5.
  • There would be a follow up request for inputs to the TC's Strategic Business Plan, in order that a revision could be completed in the near future. 

b) WG3 Communications reported that it had worked on:

  • Materials to support the launch of ISO/TS 55010 (which is expected around September), including video interviews with key experts, a slide deck and a leaflet, as well as press releases and information for use by a variety of journals
  • The need for translations into other languages of its guidance materials
  • The preparation of the next edition of a biannual newsletter, for members and WG experts
  • A welcome kit for new experts to TC251
  • A list of "talking points" to assist experts convey the purpose of asset management quickly
  • The need for members to provide contacts or drafts for case studies in the use of ISO 55001, as well as information about ISO 55001 certified or compliant organizations.

c) WG4 Product Improvement reported that:

  • It had completed its reviews of the new project proposals and had made its recommendations to the additional CAG meeting; the report then gave the results of the CAG’s deliberations on each project.
  • It’s main areas of work include terminology, feedback, knowledge management and product improvement.
  • It had updated its knowledgebase with the addition of several TC251 documents
  • It had developed guidance on conducting surveys and produced a template for case studies.
  • It had progressed plans to survey those involved in the teaching of asset management, to understand if they have conceptual differences or any practical difficulties.
  • It had worked on terminology issues with WG7 and had updated its terminology handbook to include the terms and definitions from the draft of ISO/TS 55010.

d) WG5 Finance and asset management alignment reported that:

  • It had reviewed the results of the enquiry on ISO/DTS 55010 and had considered and resolved the comments received in preparing a revised draft.
  • It had liaised with WG4 on the terms and definitions included in the draft.
  • After some final editing, the draft would be ready to go forward for editing and publication, which is estimated to be achieved by the 3rd quarter of the year.
  • It had liaised with WG3 on marketing and publicity, including shooting videos, for the launch of ISO/TS 55010
  • Following the meeting, it planned to work on a project on Asset Registers that had been assigned to WG5 by the CAG, in coordination with a project on Information Management that had been assigned to WG6.

e) WG6 Preparation for the revision of ISO 55001 reported that:

  • It had considered 8 topics concerning the revision of ISO’s Annex SL “High Level structure” (HLS) for management system standards and brainstormed ideas about them
  • It had considered the HLS definition of “risk” in detail, as well as a response on behalf of TC251 to an enquiry by the ISO/TMB/TAG13 Joint Technical Coordination Group (JTCG)/TF14
  • It had proposed several new projects to WG4 for review
  • It had planned on how to progress the projects assigned to it by the CAG
  • It had launched an enquiry to all TC251 experts for their ideas on revising ISO 55001, as the first step in a structured approach to compiling new issues for inclusion in the next revision of ISO 55001
  • It planned to complete its inputs into the revision of the TC251 Strategic Business Plan
  • It planned to complete a project review report on the revision of ISO 55002 to include “lessons learned”.

f) WG7 Development of ISO 55011 reported that:

  • It had agreed on responses to major ISO/CD 55011.2 comment categories:
    • Scope and intent
    • Target audience
    • The problem it seeks to solve
    • Value/impact
    • Examples or case studies desired
  • It had reviewed, revised, and developed text for 20 public policy elements that create a supportive environment for asset management
  • It had agreed on the direction for a revised document, aligned to a refined scope and target audience
  • It had progressed the development of terms and definitions with WG4
  • It had planned initial communications on the future ISO 55011 with WG3, for between now and the next meeting
  • It was planning a series of virtual meetings to progress its work before the next meeting, with the possibility of an additional physical meeting
  • It aimed to release the DIS of ISO 55011 following the next meeting.

During an evening reception, several wonderful art works were presented to TC 251, which were gratefully received by the Chair, Rhys Davies, on behalf of the TC’s members:

Ms. Luo Laiying presenting her painting “Woman seeking friends”


Mr. Zhang Chengxiang presenting his painting of a landscape


Mr. Pan Yongsi presenting his painting

(The main characters in the painting are a quatrain poem by Wang Mian, written during the Yuan Dynasty:
1st sentence: Afore my inkstone-pool grows a plum tree,
2nd sentence: Each of its blooms with delicate ink blows .
3rd sentence: It craves no kudos for its hue from ye,
4th sentence: But all over the world its fragrance flows.
What Mr Pan Yongsi wants to say by referring to this poem is: He wishes that the people in the forum could purely focus on developing asset management to improve management practices in China, and not focus on money, reputation, or any other things generated by doing this work.)

Peter and Guiny Way

It was with sadness that the TC noted the impending retirement of Peter Way (Convenor of WG5), once the work on ISO/TS 55010 has been completed. It wished Peter and his wife Guiny a long and happy retirement.

The TC has received an offer to hold its next meeting in Ecuador during 11 to 15 November 2019. Further details for this meeting will be made available to the TC's members shortly. A number of tentative offers have also been received for meetings in 2020 and beyond.

In closing the meeting the Chair stated that he considered that the committee had made very good progress in all its activities, before thanking all the members for their contributions. He reiterated the need to bring-in more experts to increase the diversity of the membership of the committee and to support its growing work programme.

The Chair formally thanked the hosts, Standardization Administration of China (SAC) and the China National Institute for Standardization (CNIS), as well as the sponsors, Jiangsu Institute of Quality and Standardization; Biaoxin Science & Technology (Beijing) Co.,Ltd; Science & Technology Mayors Organization of Qixia District, Nanjing; Nanjing Modern Service Federation; CNOOC Safety & Technology Services Co.,Ltd; Standard United Consultancy Center; Nanjing Institute of Product Quality Inspection; Hubei Standardization and Quality Institution; Nanjing Red Sun Co.,Ltd; Nanjing Maijia Distillery Co., Ltd.; Jiangsu Anquan Water Industry Technology Co., Ltd.; Nanjing Ren Liquor Co., Ltd.; Jiangsu Lang Li Bai Restaurant Management Co., Ltd; Nanjing Bailong Organic Agricultural Science & Technology Development Co.,Ltd, for having provided such excellent facilities and hospitality during the meeting.

Specific thanks are owed to all the members of the meeting support team for their exceptional efforts in planning, organizing and assisting the meeting.