ISO 55000 | An Introduction

Good asset management is becoming an expected normal practice in mature organisations around the world. This document is a brief explanation of the current status and developments in standards for asset management. It outlines, in particular, the PAS 55 and ISO 55000 sets of requirement specification and explains the similarities and differences between them. The document also summarises the transition implications for auditing and certification.

Setting a good standard for asset management

The Times, May 2013

There is accelerating international interest, debate and development in the more disciplined, value-maximised management of business assets over their life cycles. This is yielding surprises, some very big opportunities and a growing consensus about what needs to be done. Leading organisations are eliminating up to 30% of the ‘total cost of ownership’….

Setting the right standards in asset management

Assets Magazine (IAM), March 2011

The continuing growth of international interest, debate and activity in our Institute’s core subject subject of joined-up, whole lifecycle, optimised asset management is very encouraging, says John Woodhouse, Chair of the IAM’s panel of Experts.  However, there is still much work to be done.

The meaning of life (cycle)

Assets Magazine (IAM), September 2011

What is an asset lifespan? What do we mean whe we say ‘life cycle’. and ‘whole planning’?  John Woodhouse, Chair of the Experts Panel for the IAM, has been addressing these issues in his role as representative for the UK on the ISO PC251 development of asset management standards (ISO 55000 family).  Here, he outlines the issues and some of the options being considered.

A decade of fruitful asset management in CLP

China Light & Power (Power Systems Business Group), November 2011

CLP Power operates a vertically integrated electricity generation, transmission and distribution business in Hong Kong and provides electricity to over 5.7 million people. The Power Systems Business Group (PSBG), which handles the transmission and distribution networks, has been following a structured plan of coordinated improvements in asset management for 10 years, achieving PAS55 certification in 2007 and 2010. It has also recently measured the impact of this integrated, continual improvement approach, reporting more than 90% reduction in Customer Minutes Lost (CMLs), while responding to a 20% load growth, expanding its asset base by 25% and simultaneously reducing charging tariffs.