How Iso 55001 Adopts A Holistic Approach To Asset Management?

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ISO 55001 is a quality framework that provides requirements for any asset management system. The framework is intended to standardise successful asset management practices.

It uses a Plan; Do; Check; Act cycle to create a methodical motivation for continual improvement. It specifies quality criteria for creating, executing, maintaining, and enhancing asset management across companies.

ISO 55001 Adopts a Holistic Approach to Asset Management
ISO 55001 develops a defined approach to asset management systems from seven different perspectives.
Among the primary benefits of adopting ISO 55001 is that it provides a holistic approach to asset management. The seven clauses are as follows:

• Organizational Setting: This is ISO 55001 Clause No. 4. It
necessitates alignment between your asset management plan and your organizational policies. It proposes creating (and documenting) your Strategic Asset Management Plan (SAMP), which must explain what your Asset Management System covers and, more crucially, what is excluded. Identifying and comprehending the demands of all stakeholders is a critical ...
... component of this clause.

• Management: Clause No. 5 requires your leadership to own and commit to your Strategic Asset Management Plan. The resources, planning, and execution required to succeed with your Asset Management Plan necessitate your leadership's complete and ongoing commitment.

• Planning: This necessitates defining how you want to deliver your Strategic Asset Management Plan. You must be aligned with your organization's aims while also managing the expectations of your stakeholders. Understanding the source, effect, and possibility of unexpected events is critical; more importantly, such events must be managed without compromising the overall SAMP. Quite often, risk assessment and management should be applied to every asset, its administration, and your asset management system.

• Support: This clause asks you to define and identify the resources needed to support your SAMP. The Resource-Gap Analysis is frequently used as a starting point. It should be a well-rounded activity incorporating money, people, and equipment resources. Internal and external resources must be defined and documented. Following the Resource Gap analysis, many businesses invest in training to fill competency gaps.

• Operation: ISO 55001 Clause 8 focuses on the delivery milestones of your Strategic Asset Management Plan. One of the most important responsibilities at this level is to map your operations (create process maps). Communicating the plan to your internal and external resources is an essential aspect of this stage.

• Performance Evaluation: The main purpose of Clause No. 9 is to record 'Planned Vs. Actual' of your Strategic Asset Management Plan. It is assessing each asset, its management, and your asset management system. This stage entails selecting the proper performance indicators, measuring actual performance, and communicating performance.

• Improvement: ISO 55001 Clause 9 defines mechanisms for recognising nonconformities and ensuring remedial action measures are in place. Preventive action procedures should be developed to proactively detect performance shortcomings. The main idea is to create a defined process for the continual improvement of your Asset Management System.

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