ISO 55000 Asset Management System Standards
EDI supports the principles put forth in the ISO 5500X standards. We believe these standards articulate the fundamental policies and procedures required for any organization to efficiently manage their assets. ISO 5500X effectively lays out that regardless of the industry, assets play a crucial role in a business’s ability to perform its core function. In fact, in most industries, the investment in their assets is their largest financial exposure. As a result, the management of assets must be a top down process and be part of a business’s core function.
The graphic below from ISO 55000 demonstrates how this top down process should work.
EDI believes that where a Strategic Asset Management Plan (SAMP) exists, the implementation of an EAM not only goes smoother, but realizes better utilization in the maintenance organization. A significant number of businesses are looking at ISO 5500X and are passionate about implementing the approach within their organization. However, there are usually deep seated cultures and practices that adversely influence these objectives.
For years, industry has focused on maintenance management which takes a reactive approach rather than a proactive approach. The result is that most organizations perform proactive work on a predefined time basis, without regard to the condition of the asset or its business requirement. In fact, few organizations are using any kind of condition or predictive based maintenance. This has created a “break/fix” culture that is in direct conflict with achieving the asset management goals laid out in ISO 5500X. As a result, a paradigm shift in asset strategy must take place before this can happen. The graphic below demonstrates the evolution in thinking required to accomplish this shift.
In alignment with ISO 5500X principles, we believe that asset management is less about ensuring that every asset performs to its required function and is more about the management of risk to the organization. Looking at the asset management program in this way ensures that a process is developed to align the relationship of an asset’s function to business objectives. In this respect, asset management impacts the entire organization, including stakeholders and external service providers.
Because ISO 5500X provides a clear guideline on how to achieve asset management objectives, EDI has chosen to incorporate as much of these principles as possible as part of our EAM implementations. This goal results in smoother implementations that include tools and processes to realize ISO 5500X objectives. It also includes the benefit of fewer customizations and unique processes based on performing maintenance management rather than asset management.