ISO 55000 Archives - HP Reliability, an Eruditio LLC company.

Learning about Asset Management

My personal insights on Asset Management

NOTE: This post will be a little different from my normal posts. Instead of discussing a specific topic, I will be covering my journey in understanding Asset Management and some key takeaways from the journey.

My Journey in Asset Management

I first heard about asset management when I came across PAS55, a Public Available Standard from the UK. I was trying to find some information on a cross-functional maintenance program. As I briefly read about it, I was intrigued and started to read about more asset management. It was exactly […]

By James Kovacevic|2019-04-19T15:49:57-04:00September 26th, 2016|Asset Management|Comments Off

Assessing Your Asset Management System

What You Must Know About Assessing Your Asset Management System

Often times organizations what to determine where they in their journey of asset management. This usually takes place in the form of benchmarking or assessing their asset management system against the standard. Before progressing any further, it is important to understand the difference between an assessment and an audit;

Assessment is defined as a systematic process of collecting and analyzing data to determine the current, historical, or projected status of an organization or system.
Audit is defined as an inspection and examination […]

By James Kovacevic|2019-04-19T15:49:57-04:00September 19th, 2016|Asset Management|Comments Off

The 39 Subjects of Asset Management

Understanding the different functions and disciplines of asset management

The Global Forum on Maintenance and Asset Management (GFMAM) has worked with the major bodies (SMRP, PEMAC, IAM, etc.) to achieve a consensus on the major subjects within asset management.

These subjects are intended to describe the complete scope of topics within asset management. You can download the GFMAM guide for free here. It is important that anyone who wishes to understand asset management has an understanding of each of these topics, and hopefully some experience in each.

However, it is not expected everyone […]

By James Kovacevic|2019-04-19T15:49:58-04:00September 12th, 2016|Asset Management|Comments Off

The 7 Requirements of an Asset Management System

Understanding the Requirements of the ISO 55001 Standard

When looking through the ISO 55001 standard, one may quickly become overwhelmed with the requirements. The ISO 55001 standard was written in a way that groups the requirements. Making it easier to understand & implement the standard.

This is different that subjects found in asset management (which we will discuss next week). These are the requirements that must be met if one to certify themselves against the ISO 55001 standard.

Context of the Organization

Since asset management is an organizational system, it is imperative that the organization takes into […]

By James Kovacevic|2019-04-19T15:49:58-04:00September 5th, 2016|Asset Management|Comments Off

The Key 3 Asset Management Documents

Understanding these asset management documents will set the stage for an asset management program.

Aligning an organization is a critical step to implementing and ensuring the success of an asset management system. Various change management techniques will be used to bring about the change, but how do you ensure the message, direction, and principles of the asset management program are communicated consistently and clearly?

There are 3 key documents in any asset management program;

Asset Management Policy
Strategic Asset Management Plan
Asset Management Plan

While the length, size, and level of detail will vary between […]

By James Kovacevic|2019-04-19T15:49:58-04:00August 29th, 2016|Asset Management|Comments Off