In many industry sectors, the way you manage, maintain and finance your assets can make or break the company. Assets include everything from physical property such as vehicles, hand tools and CNC machines to intangibles such as financial reserves, human capital and intellectual property. ISO 55001 helps you manage the entire lifecycle of your assets to ensure they deliver maximum value to the business. As with all ISO standards, the management of risk is at the heart of the system, so that your organisation can be more confident about future performance. There are certain industry sectors for which ISO 55001 is particularly appealing. For example, facilities management and property developers; oil and gas and utilities; construction; manufacturing; transport and distribution all stand to gain from ISO 55001. The system helps introduce greater compliance, more reliability, lower ownership and operating costs and increased transparency if things go wrong. ISO 55001 helps you manage risk and maximise both day-to-day and long term operational and financial performance.
Many organisations seek ISO 55001 to complement other ISO standards such as ISO 9001 Quality Management, ISO 45001 Occupational Health & Safety and ISO 14001 Environmental Management. Fortunately, all these standards are based on the Annex SL structure which means the systems share common elements and integrate neatly. This means that the development and maintenance of your Asset Management System can be done very efficiently.
Any organisation looking to maximise operational and financial performance can benefit from an ISO 55001 certified Asset Management System.
Improved risk management - Develop a planned preventive maintenance system based on international best practice to improve reliability of equipment.
Cost savings - Operational costs are reduced by extending the life of key assets, achieved through prioritising effective preventive maintenance over costly repairs.
Reduced downtime - Better asset management leads to fewer stoppages in operations with a direct positive impact on business performance.
Better supplier management - The system creates a framework for managing the performance of subcontractors and suppliers.
Improved safety - Better maintained equipment reduces the risk to the health and safety of workers.
Enhanced corporate image - ISO 55001 helps you comply with legal obligations and increases stakeholder confidence.
Better environmental performance - Extracting maximum efficiency and value from assets is consistent with environmental goals.
“The great thing about ISO 55001 is that you can benefit on both a day-to-day and long term strategic basis. At an operational level, it will ensure your processes, equipment and technology keep ticking over reliably with minimum downtime, whether it’s a delivery vehicle, an advanced CNC machine or basic office printer. Over the longer term, it helps you manage procurement, financing and disposal of assets to ensure you realise maximum value. In this regard, of all the ISO management systems it’s probably the one that is easiest to make a financial case for.”
Steve Stubley, Technical Director, Alcumus ISOQAR