THE IMPORTANCE OF ISO 55000 IN SMALL AND MEDIUM SIZED ENTERPRISES

All sectors are facing an increasing competitive situation, therefore economic analyzes are increasing in importance in asset management. The market dynamics tends to a continuous improvement. The objectives of profitability and life cycle costs have a significant influence on the strategy of assets and strategic decisions in the organization, so it is important to analyze capex and opex to be able to define the strategies to take. What happens when we are in a medium or small company? Generally, the answer to this is that asset management only takes place on large companies. In this research, the application of an international standard model, such as ISO 55000 in asset management, for medium and small companies, becomes relevant. This standard covers a whole concept of control, monitoring and improvement, which explains what should be done. The application of a management model based on the standard allows meeting specific requirements and characteristics. Our conclusion is that any entity, regardless of its size should establish a strategy in its asset management and ISO 55000 could help them in developing that strategy.

Download Full-text

Integration of a Maintenance Management Model (MMM) Into an Asset Management Process

10.4018/978-1-7998-7943-5.ch001 ◽

2022 ◽

pp. 1-29

Author(s):

Carlos A. Parra ◽

Adolfo Crespo Márquez ◽

Vicente González-Prida ◽

Antonio Sola Rosique ◽

Juan F. Gómez ◽

...

Keyword(s):

Life Cycle ◽

Continuous Improvement ◽

Asset Management ◽

Maintenance Management ◽

Management Model ◽

Management Process ◽

Planning And Scheduling ◽

The Cost ◽

And Control ◽

The Relationship

The chapter explains in detail the maintenance management model (MMM) taken as a reference for the development of the book. The chapter is based on the eight phases of the MMM. The first three blocks determine the effectiveness of the management; the following blocks assure the same efficiency and continuous improvement in the following way: Blocks 4 and 5 include actions for the planning and scheduling of maintenance, including, of course, the capacity of planning of department of maintenance. Blocks 6 and 7 are dedicated to the evaluation and control of the maintenance and the cost of assets throughout their life cycle. This chapter of introduction briefly summarizes the process and the reference frame necessary for the implementation of the MMM. This chapter also presents the relationship between the eight phases of the maintenance management model proposed and the general requirements of the asset management standard ISO 55000 to show how the gradual implementation of the MMM largely covers the requirements of the standard ISO 55000.

Download Full-text

Asset Life Cycle Plans

Optimum Decision Making in Asset Management - Advances in Logistics, Operations, and Management Science ◽

10.4018/978-1-5225-0651-5.ch012 ◽

2017 ◽

pp. 259-287 ◽

Cited By ~ 1

Author(s):

R. J. (Richard) Ruitenburg ◽

A. J. J. (Jan) Braaksma ◽

L. A. M. (Leo) van Dongen

Keyword(s):

Life Cycle ◽

Asset Management ◽

Life Cycle Management ◽

Business Value ◽

Life Cycle Approach ◽

Strategic Decisions ◽

Management Standards ◽

Complete Life Cycle ◽

Physical Assets ◽

Multidisciplinary Perspective

Effective management of physical assets should deliver maximum business value. Therefore, Asset Management standards such as PAS 55 and ISO 55000 ask for a life cycle approach. However, most existing methods focus only on the short term of the asset's life or the estimation of its remaining life. These methods do not consider alignment to changing corporate objectives in a variable context, nor do they adopt a multidisciplinary perspective. This chapter argues that, to create maximum value, Asset Management should be a multidisciplinary and strategic practice that considers the complete life cycle of the asset: Asset Life Cycle Management. A practical twelve-step approach is presented to develop an Asset Life Cycle Plan (ALCP) in which expert sessions are used to identify the main lifetime impacts that influence the creation of business value from the use of the asset. The steps are illustrated with an example from practice. The chapter concludes that the ALCP supports asset managers in making long-term strategic decisions in a timely and effective manner.

Download Full-text