Maintenance Technology April 2015 - (Page 11)

UPTIME Defining 'Assets' for ISO 55001 T he new Asset Management Standard (ISO 55001:2014) is promoting an interesting array of ideas, concerns and discussions among maintenance and reliability professionals. In conference sessions and workshops over the last year, two themes have arisen: Unfortunately, the word "system" often conjures up something along the lines of a computerized information system. In reality, the "asset-management system" is almost invisible to the untrained eye. The "system" is comprised of the collective behaviors (responsibilities and accountabilities) of those who make decisions and take actions throughout an asset's life cycle-an asset-management work culture to be sure. This system will, of course, use a host of business processes, hardware, information systems and software to achieve the organization's goals. Bob Williamson Contributing Editor ■ What exactly is meant by the term "asset" in the context of the new standard? ■ What is the relationship between "asset management" and an "asset- management system?" ■ These two topics recently prompted two additional questions about the softer-side of asset management: Contrary to the way we often think ■ Are highly-skilled people an "asset" in the context of the new standard? the new ISO 55001 Asset Management ■ Is a high-performing asset-management work culture a "value-adding asset?" What's the management system? Before venturing into "assets," let's remember that ISO 55001 is a management standard for an asset-management system. Viewed another way, it defines the requirements for a management system for managing assets or a management standard for an asset-management management system. You read that right. Contrary to the way we often think about maintaining our physical assets, this new managementsystem standard is not exactly about managing assets themselves, but rather managing "the value that the asset can provide to the organization" throughout the asset's life cycle. (ISO 55000:2014; 2.4.2a) The ISO 55001 Asset Management Standard requires identification of the organization's valueadding assets and the opportunities as well as the risks to be managed. Then, a systematic approach must be established to manage these assets throughout their life cycle-from design through operations, maintenance and disposal and/or asset renewal-an asset-management system. APRIL 2015 about maintaining our physical assets, Standard is not exactly about managing assets themselves, but rather managing 'the value that the asset can provide to the organization' throughout the asset's life cycle. Assets and asset management "An asset is an item, thing or entity that has potential or actual value to an organization," (ISO 55000:2014; 2.3). Given this definition, basically anything with actual or potential value for an organization is an asset. The key word is "value." The Standard also states that "assets exist to provide value to the organization and its stakeholders," (ISO 55000:2014; 2.4.2). Organizational objectives provide the framework for determining the value that selected assets provide. Are highly-skilled people assets? We tend to think about "physical assets" as relating to machines and facilities. But let's broaden our MAINTENANCETECHNOLOGY.COM | 11 http://www.MAINTENANCETECHNOLOGY.COM

Maintenance Technology April 2015

Table of Contents for the Digital Edition of Maintenance Technology April 2015

Maintenance Technology April 2015 - Cover1
Maintenance Technology April 2015 - Cover2
Maintenance Technology April 2015 - 1
Maintenance Technology April 2015 - 2
Maintenance Technology April 2015 - 3
Maintenance Technology April 2015 - 4
Maintenance Technology April 2015 - 5
Maintenance Technology April 2015 - 6
Maintenance Technology April 2015 - 7
Maintenance Technology April 2015 - 8
Maintenance Technology April 2015 - 9
Maintenance Technology April 2015 - 10
Maintenance Technology April 2015 - 11
Maintenance Technology April 2015 - 12
Maintenance Technology April 2015 - 13
Maintenance Technology April 2015 - 14
Maintenance Technology April 2015 - 15
Maintenance Technology April 2015 - 16
Maintenance Technology April 2015 - 17
Maintenance Technology April 2015 - 18
Maintenance Technology April 2015 - 19
Maintenance Technology April 2015 - 20
Maintenance Technology April 2015 - 21
Maintenance Technology April 2015 - 22
Maintenance Technology April 2015 - 23
Maintenance Technology April 2015 - 24
Maintenance Technology April 2015 - 25
Maintenance Technology April 2015 - 26
Maintenance Technology April 2015 - 27
Maintenance Technology April 2015 - 28
Maintenance Technology April 2015 - 29
Maintenance Technology April 2015 - 30
Maintenance Technology April 2015 - 31
Maintenance Technology April 2015 - 32
Maintenance Technology April 2015 - 33
Maintenance Technology April 2015 - 34
Maintenance Technology April 2015 - 35
Maintenance Technology April 2015 - 36
Maintenance Technology April 2015 - 37
Maintenance Technology April 2015 - 38
Maintenance Technology April 2015 - 39
Maintenance Technology April 2015 - 40
Maintenance Technology April 2015 - 41
Maintenance Technology April 2015 - 42
Maintenance Technology April 2015 - 43
Maintenance Technology April 2015 - 44
Maintenance Technology April 2015 - 45
Maintenance Technology April 2015 - 46
Maintenance Technology April 2015 - 47
Maintenance Technology April 2015 - 48
Maintenance Technology April 2015 - Cover3
Maintenance Technology April 2015 - Cover4
Maintenance Technology April 2015 - 53
Maintenance Technology April 2015 - 54
Maintenance Technology April 2015 - 55
Maintenance Technology April 2015 - 56
https://www.nxtbook.com/atp/MaintenanceTechnology/efficient-plant-june-2021
https://www.nxtbook.com/atp/MaintenanceTechnology/epapril2021
https://www.nxtbook.com/atp/MaintenanceTechnology/epmarch2021
https://www.nxtbook.com/atp/MaintenanceTechnology/epjanfeb2021
https://www.nxtbook.com/atp/MaintenanceTechnology/epjulyaug2020
https://www.nxtbook.com/atp/MaintenanceTechnology/epjune2020
https://www.nxtbook.com/atp/MaintenanceTechnology/epmay2020
https://www.nxtbook.com/atp/MaintenanceTechnology/epapril2020
https://www.nxtbook.com/atp/MaintenanceTechnology/epmarch2020
https://www.nxtbook.com/atp/MaintenanceTechnology/epfeb2020
https://www.nxtbook.com/atp/MaintenanceTechnology/epjan2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epnovdec2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epseptoct2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epmay2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epapril2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epmarch2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epfebruary2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epjanuary2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epdecember2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epnovember2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epoctober2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epseptember2019
https://www.nxtbook.com/atp/MaintenanceTechnology/epaugust2018
https://www.nxtbook.com/atp/MaintenanceTechnology/0818schneider
https://www.nxtbook.com/atp/MaintenanceTechnology/epjuly2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epjune2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epmay2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epapril2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epmarch2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epfebruary2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epjanuary2018
https://www.nxtbook.com/atp/MaintenanceTechnology/epdecember2017
https://www.nxtbook.com/atp/MaintenanceTechnology/epnovember2017
https://www.nxtbook.com/atp/MaintenanceTechnology/epoctober2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtsept2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtaugust2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtjuly2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtjune2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtmay2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtapril2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtmarch2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtfebruary2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtjanuary2017
https://www.nxtbook.com/atp/MaintenanceTechnology/mtdecember2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtnovember2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtoctober2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtseptember2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtaugust2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtjuly2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtjune2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtmay2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtapril2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtmarch2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtfebruary2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtjanuary2016
https://www.nxtbook.com/atp/MaintenanceTechnology/mtdecember2015
https://www.nxtbook.com/atp/MaintenanceTechnology/mtnovember2015
https://www.nxtbook.com/atp/MaintenanceTechnology/mtoctober2015
https://www.nxtbook.com/atp/MaintenanceTechnology/mtseptember2015
https://www.nxtbook.com/atp/MaintenanceTechnology/MTAugust2015
https://www.nxtbook.com/atp/MaintenanceTechnology/MTJuly2015
https://www.nxtbook.com/atp/MaintenanceTechnology/MTJune2015
https://www.nxtbook.com/atp/MaintenanceTechnology/M
https://www.nxtbook.com/atp/MaintenanceTechnology/0415endress
https://www.nxtbook.com/atp/MaintenanceTechnology/MTApril2015
https://www.nxtbook.com/atp/MaintenanceTechnology/MTMarch2015
https://www.nxtbook.com/atp/MaintenanceTechnology/MTFebruary2015
https://www.nxtbook.com/atp/MaintenanceTechnology/MTJanuary2015
https://www.nxtbook.com/atp/MaintenanceTechnology/MTDecember2014
https://www.nxtbook.com/atp/MaintenanceTechnology/MTNovember2014
https://www.nxtbook.com/atp/MaintenanceTechnology/MTOctober2014
https://www.nxtbook.com/atp/MaintenanceTechnology/MTSeptember2014
https://www.nxtbook.com/atp/MaintenanceTechnology/MTAugust2014
https://www.nxtbook.com/atp/MaintenanceTechnology/MTJuly2014
https://www.nxtbookmedia.com