Embrace ISO 55000

The new asset management standard will be easier to adopt and more beneficial than you might think

By Ken Bannister, ENGTECH Industries Inc. for Fluke Corp.

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Best-practice maintenance organizations realize that effective, measured and documented asset management methods and work practices lead to increased safety, availability, reliability, throughput and due diligence as well as reduced insurance costs, energy consumption and carbon footprint.

The ISO 55000 Asset Management standard published last year by the International Organization for Standardization, Geneva, Switz., sets realistic expectations for asset management and defines structure and accountability for asset management best practices. Companies in the process industries, given their current level of asset management and vulnerability to high-consequence failures, are ideal candidates for ISO 55000 certification.

Why ISO 55000 Matters

Certification to the standard signals to investors and customers (internal and external) that a company not only understands its assets and how to manage them on a short- and long-term basis but also can reliably deliver quality products in a sustainable manner.

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Adhering to the standard helps a company’s maintenance organization differentiate between and report on what it controls (direct maintenance-related issues) versus what it manages (non-maintenance-related issues) on a day-to-day basis. With that understanding, the maintenance organization can better measure and recognize its impact and value to the corporation.

ISO 55000 demands the maintenance organization critically review its asset management approach, asking “Does what we do add value?,” and address many of the shortcomings often found in an initial maintenance-operation effectiveness review (audit). Typical audit findings include:
• Lack of understanding of the major asset management stakeholders and their objectives;
• No “asset” definition, i.e., what entities are “assets” requiring maintenance;
• Incomplete, incorrect or out-of-date asset portfolio master data/attribute list;
• Ineffective or nonexistent planning and scheduling methodology;
• No spare parts management strategy;
• Inadequate work request information, forcing someone to go out to clarify the problem;
• Error in the type of skilled tradesperson sent to do a job;
• Ineffective or out-of-date workflows and procedures;
• Misuse of experienced tradespeople, e.g., having them perform rudimentary maintenance checks that operators or lower-skilled individuals could handle;
• Inconsistent work results because of subjective language in preventive maintenance (PM) job plans, e.g., replace as necessary, lubricate as necessary, or check for noises;
• Irrelevant global PM job plan assignment for some assets;
• No predictive or condition-based program and little or no validated use of diagnostic instruments and tools;
• Ineffective use, if any at all, of data collection and monitoring tools;
• No trending or decision points identified for some measurement data, making collection pointless;
• No tracking of failure causes and effects on service or uptime;
• Lack of maintenance service level agreements with partners or clients;
• Poor use of the management system, i.e., employing it primarily for work orders and not for reporting;
• No key performance indicators (KPIs) in use — code system not set up to capture and filter the correct data to produce value-based performance reporting;
• Long delays in getting request reports; and
• Lack of succession planning.

Most maintenance organizations encounter many of these stumbling blocks, all of which an ISO 55000 approach to asset management can resolve.

The ISO 55000 Asset Management standard outlines what an organization must have in place to manage its assets in a responsible manner to benefit the corporation as a whole. The standard does this through a networked system of key elements for implementing an effective ongoing strategic asset management plan (SAMP), as shown in Figure 1.

ISO 55000 consists of three standalone documents: ISO 55000, an overview that spells out the principles and terminology used in 55001 and 55002; ISO 55001, the actual management systems requirement document that details the elements against which a company will be audited and certified; and ISO 55002, a guideline for the application of ISO 55001.

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