ISO 55001 Asset Management System Overview

2
Overview of the PECB ISO 55001 Training
and Certification course
Rreze Halili
Course Development Manager
Security, Continuity and Recovery
scr@pecb.com
www.pecb.com

3
Overview of the PECB ISO 55001 Training
and Certification course
Content
a. What is ISO 55000?
b. Asset and Asset Management
c. Asset Management System AMS
d. Overview of the ISO 55001
requirements and their interpretation

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What is ISO 55000?
The ISO 55000 suite of documents that was released in
2014 by the International Standard Organization (ISO).

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ISO 55000 Family
ISO 55001ISO 55000
ISO 55002
Overview,
principles and
terminology
AMS
requirements
Implementation
and application
guide
AMS

6
2000-
2008
2010
2013
Fifth Official
Meeting of ISO
and final ballot
ISO accepted
PAS 55 as the
basis for
development of
the new ISO
55000
ASTM Committee E53
Asset Management
was created
IAM and BSI developed
and published
PAS 55:2008
ISO approved
PC 251
First Committee
Draft (CD1)
History of the ISO 55000
Important Dates
2009
2011
2014
ISO 55000 was
released

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Explain the components and the operation of an Asset
Management System based on ISO 55001 and its principal
processes.
Understand the goal, content and correlation between ISO
55001 and ISO 55002 as well as with other standards and
regulatory frameworks.
Understand the concepts, approaches, standards, methods
and techniques for the implementation and effective
management of an AMS.
1
2
3
Objectives of the PECB training
Acquiring Knowledge

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Training Objectives
Development of Competencies
Interpret ISO 55001 requirements in a specific context of an
organization.
Develop the expertise to support an organization to plan,
implement, manage, monitor and maintain an AMS as
specified in ISO 55001.
Acquire the expertise to advise an organization on asset
management best practices.
Strengthen the personal qualities necessary to act with due
professional care when conducting a compliance project.
1
2
3
4

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Methodological Framework to Manage the AMS
Implementation Project
Act
Treatment of
Non-conformities
Continual
Improvement
Check
Monitoring,
Measurement,
Analysis and
Evaluation
Internal Audit
Management
Review
Plan
Understanding
the organization
Analyze the
existing System
Scope
Policy
Initiating the AMS
Leadership and
Project Approval
Risk Assessment
Do
Information
Management
Document
Management
Communication
Operations
Management
Design of
Controls &
Procedures
Organizational
Structure
Awareness &
Training

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What is an asset?
ISO 55000, clause 3.2.1
Asset is an item, thing or entity that has potential or actual
value to an organization.
What are the things that are
considered valuable in your
organization?

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Assets
Examples
Buildings
Laptops
Equipment
Cash
People

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Types of Assets
ISO 55000, clause 3.2.6
Human
assets
Placeholder
for text
Click the placeholder
text to select it and
type your new text.
Growth and
defensive assets
Financial and
non-financial
assets
Information
assets
Physical
assets
Enter your own text
Assets
Types
Tangible and
intangible assets
Current and
non-current
assets
Critical
assets
Grouping of assets having common characteristics that
distinguish those assets as a group or class.
Linear
assets

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Asset Life Cycle
ISO 55000, clause 3.2.2 & 3.2.3
Utilization is a ratio used
to determine how well a
company is using its
available assets to
generate a profit.
Maintenance
includes inspection,
monitoring, testing, repair,
refurbishment, and/or life
extension of assets and
their condition.
Creation includes
design, modification,
procurement, construction
and commissioning.
Disposal includes the act
of selling an asset usually
a long term asset that
has been depreciated
over its useful life like
production equipment.
Asset
Lifecycle
Utilization
Disposal
Creation
Maintena
nce
Creation
Mainte-
nance

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Managing Assets…Challenges
• How best to manage all these type of assets?
• How to control their condition, function, performance and their contribution to
value?
• How to take decisions about them?
• Who owns them and who uses them, who maintains them?
• What to spend and for what? Are our investments delivering our asset
management objectives, are investments worthy?
• Do we have enough capability, knowledge, money, reasons to act in specific
way?
• Is the risk related to them tolerable for environments, humans, and all
organization?
• Will it have future problems because of current decisions?
• Is the management of assets achieving stakeholders expectations?
• What would result more cost effective, to allow an asset to run to failure, or
invest and spend for that?

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Integrated Asset Management System
Approach
Different organizations have different types of assets and asset
system which are incorporated within asset management,
however to coordinate and to control all asset management
activities, an organization should have a systematic approach.
Furthermore, a large number of assets and asset systems, their
diversity and complexity of their characteristics, coordination and
interaction with other functionalities within organization, further
increase the importance to have a systematic approach for asset
management.

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Definition of AMS
Asset Management (AM): is the coordinated activity of an
organization to realize value from assets.
Asset Management System (AMS): is a management system for
asset management whose function is to establish the asset
management policy and asset management objectives.
ISO 55000, clause 3.4.3 & 3.3.1
Note: The management system consists of
policies, procedures, guidelines, and
associated resources and activities

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Managing assets and the organization
ISO 55000, clause 3.2.4, 3.3.1 & 3.4.3
Managing the
organization
Asset
Management
Asset
Management
System
Asset portfolio

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Structure of the ISO 55001 Standard
Annex A
Information on asset management activities
Clause 6
Planning
Clause 9
Performance
evaluation
Clause 10
Improvement
Clause 8
Operation
Clause 5
Leadership
Clause 4
Context of the
organization
Clause 7
Support

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Understanding of the organizational
context
ISO 55001, clauses 4.1 – 4.4
Understanding the
needs and
expectations of
stakeholders
Determining the
scope of the
asset management
system
Asset
management system
Understanding
the organization
and its context

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Understanding the organization and its
context
ISO 55001, clauses 4.1
The organization shall determine external and internal issues that are
relevant to its purpose and that affect its ability to achieve the intended
outcome(s) of its asset management system.
Financial
Environment
Legal
Politics
Customers
Cultural Regional
Regulatory
Media
Economic
Local
Society
• Governance requirements
• The organization’s culture
• Policies, objectives, and the strategies that are in place to achieve them
• Information systems, information flows and decision-making processes
• Organizational structure, roles, accountabilities and authorities

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Understanding the needs and
expectations of stakeholders
ISO 55001, clause 4.2
Owners
Management
consortiums
Shareholders Functional
groups:
• Engineering
• Accounting
• Maintenance
• Operations
• Purchasing
• Receiving
• Logistics.
Employees
within the
organization
Investors or
taxpayers
Customers
Service
providers
Employee
representatives
Contractors
Non-governmental
organizations
Suppliers
Local
communities
Financial
institutions
Users

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Note: Any exclusion must be justified
Determining the scope of the asset
management system
A key process
A department
The whole
organization
The organization and
its stakeholders

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Asset management system
The organization shall establish, implement, maintain and
continually improve an asset management system,
including the processes needed and their interactions, in
accordance with the requirements of this International
Standard.
The organization shall develop a SAMP which includes
documentation of the role of the asset management system
in supporting achievement of the asset management
objectives.

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Annex A
Clause 6
Planning
Clause 9
Performance
evaluation
Clause 10
Improvement
Clause 8
Operation
Clause 4
Context of the
organization
Clause 7
Support
Clause 5
Leadership

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Leadership and Management Commitment
Strategic Orientation
 Ensure that AMS is compatible with the
organizational objectives
 Integrate the AMS requirements into the
organization’s business processes
Make Resources Available
Communication
 Management shall determine and provide the
necessary resources for the AMS
 Management shall communicate the
importance of effective asset management and
conformance to the AMS requirements

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Asset Management Policy
Top management shall establish an Asset Management policy that:
• is appropriate to the purpose of the organization
• provides a framework for setting asset management objectives
• includes a commitment to satisfy applicable requirements
• includes a commitment to continual improvement of the AMS
The asset management policy shall:
• be available as documented information
• be communicated within the organization
• be available to stakeholders, as appropriate

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 Top management shall ensure that the responsibilities and
authorities for relevant roles are assigned and
communicated within the organization.
 Top management shall assign the responsibility and
authority for:
• Ensuring that the asset management system conforms to
the requirements of this International Standard;
• Reporting on the performance of the asset
management system to top management.
Organizational Roles, Responsibilities
and Authorities

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Annex A
Clause 6
Planning
Clause 9
Performance
evaluation
Clause 10
Improvement
Clause 8
Operation
Clause 5
Leadership
Clause 4
Context of the
organization
Clause 7
Support

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Support
The organization
shall ensure to have
competent persons to
perform tasks related
to the AMS.
The organization
shall establish,
implement and
maintain
arrangements for
communicating with
relevant external
and internal
interested parties.
The organization shall
determine and provide the
resources needed for
AMS.
The organization shall
determine its
information
requirements to
support its assets, AM,
AMS and objectives.
The organization’s AMS
shall include
documented
information required by
ISO 55001, applicable
legal and regulatory
requirements and
records to demonstrate
the effectiveness of the
AMS.
Resources Competence DocumentationAwareness
Information
requirments
Everyone in
organization’s control,
shall be aware of the
asset management
policy and
requirements.
Communication
ISO 55001, clause 7

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Annex A
Clause 6
Planning
Clause 9
Performance
evaluation
Clause 10
Improvement
Clause 8
Operation
Clause 5
Leadership
Clause 4
Context of the
organization
Clause 7
Support

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Planning
ISO 55001, clause 6
Address
risks and
opportunities
Planning to
achieve asset
management
objectives
Methods and criteria for decision
making and prioritizing of the
activities and resources to achieve
its AM plan(s) and AM objectives.
What will be done? What resources
will be required? Who will be
responsible? When it will be
completed, and how results will be
evaluated?
Be consistent and aligned
with the AMS policy,
measurable, and take into
account requirements,
risk assessment and risk
treatment results,
communicated, updated.
Ensure AMS can achieve
intended outcome, prevent or
reduce undesired effects,
achieve continual
improvement, plan actions to
address risks and
opportunities, implement them
and evaluate their
effectiveness.
Asset
management
objectives

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Actions to address risks and opportunities
for the asset management system
Actions to address risks and opportunities associated with managing the
assets, taking into account how these risks and opportunities can change with
time, by establishing processes for:
Identification of
risks and
opportunities
Assessment of
risks and
opportunities
Determining the
significance of
assets in
achieving AM
objectives
Treatment,
monitoring, of
risks and
opportunities

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Asset Management
Objectives
Organizational
Objectives
Asset management objectives
ISO 55001, clause 6.2.1
The organization shall establish asset management objectives at
relevant functions and levels.
Organizational objectives
included in the
organizational plan
Asset management
objectives
included in SAMP

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Strategic Asset Management Plan SAMP
ISO 55000, clause 3.3.2
Documented information that specifies how organizational
objectives are to be converted into asset management
objectives, the approach for developing asset management
plans, and the role of the asset management system in
supporting achievement of the asset management
objectives.

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Planning to achieve asset management
objectives
ISO 55001, clause 6.2.2
The organization shall integrate the planning to achieve
asset management objectives with other organizational
planning activities, including financial, human resources
and other support functions.
The organization shall ensure that the asset management
plan(s) take(s) into account relevant requirements coming
from outside the asset management system.

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Annex A
Clause 6
Planning
Clause 9
Performance
evaluation
Clause 10
Improvement
Clause 8
Operation
Clause 5
Leadership
Clause 4
Context of the
organization
Clause 7
Support

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Operational Planning and Control
The organization shall plan, implement and control the
processes needed to meet requirements, and to implement
actions to address risks and opportunities, the asset
management plan(s) determined in asset management
objectives, and the corrective and preventive actions
determined by:
• Establishing criteria for the required processes;
• Implementing the control of the processes in accordance
with the criteria;
• Keeping documented information to the extent necessary
to have confidence and evidence that the processes have
been carried out as planned;
• Treating and monitoring risks;

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Management of Change
Risks associated with any planned change, permanent or
temporary that can have an impact on achieving the asset
management objectives, shall be assessed before the change is
implemented.
The organization shall ensure that such risks are managed in
accordance with planned actions and asset management
objectives.
The organization shall control planned changes and review the
unintended consequences of changes, taking action to mitigate
any adverse effects, as necessary.

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 Provide a communication plan
for the users before the transfer
to operations
 Avoid implementing too many
new processes at the same time
 Ensure training of operations
managers before transferring the
operations
Change Management
Management of Change

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Outsourcing
When the organization outsources any activities that can have an
impact on the achievement of its asset management objectives, it shall
assess and control the associated risks.
The organization should control:
a) the processes and activities that are
to be outsourced;
b) the responsibilities and authorities
within the organization for managing
the outsourced processes and
activities;
c) the processes and scope for the
sharing of knowledge and information
between the organization and its
contracted service provider(s);

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Outsourced Activities and Processes
Asset management plan(s) of contracted
service provider, if are in agreement with
AMS, AMS policy, objectives and targets.
Consider the risks and impacts on its
assets, asset management and asset
management system.
Responsibilities and authorities for
managing the outsourced processes and
activities defined and controlled.
Consider the ownership and protection of
intellectual property and corporate
knowledge generated.
Outsourcing activities and processes
Controls and considerations

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Annex A
Clause 6
Planning
Clause 9
Performance
evaluation
Clause 10
Improvement
Clause 8
Operation
Clause 5
Leadership
Clause 4
Context of the
organization
Clause 7
Support

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2. Regular review of the
effectiveness of the AMS taking into
account the feedback and
suggestions of the stakeholders
4. Review of risk assessments
and risk treatment
1. Monitoring and review of asset
management system
3. Measurement of the
effectiveness of the asset
management performance,
including financial and non-
financial performance
6. Management review
and update of asset
management plans
5. Conducting the internal audits
AMS
Monitoring
and Review
Monitoring, measurement, analysis and
evaluation
ISO 55001, clause 9
Note: Each of these actions must be documented and recorded

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Internal Audits
ISO 55001, clause 9.2.1
The organization shall conduct internal audits at planned
intervals to provide information to assist in the determination on
whether the asset management system:
a) conforms to:
− the organization’s own requirements for its asset
management system;
− the requirements of this International Standard;
b) is effectively implemented and maintained.

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Management Review
Management Review Input Elements Management Review Output Elements
1. The status of actions from previous
management reviews
2. Changes in external and internal issues
that are relevant to the AMS
3. Nonconformities and corrective actions
4. Monitoring and measurement results
5. Audit results
6. Asset management activity
7. Opportunities for continual improvement
8. Changes in the profile of risks and
opportunities.
1. Decisions related to continual
improvement opportunities
2. Any needs for changes to the
AMS

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Annex A
Clause 6
Planning
Clause 9
Performance
evaluation
Clause 10
Improvement
Clause 8
Operation
Clause 5
Leadership
Clause 4
Context of the
organization
Clause 7
Support

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Nonconformity and Corrective Action
When a nonconformity or incident occurs in asset management
or asset management system, the organization shall:
 react to the nonconformity or incident;
 evaluate the need for action to eliminate the causes of the
nonconformity or incident, in order that it does not occur
or recur elsewhere;
 implement any action needed;
 review the effectiveness of any corrective
action taken;
 make changes to the AMS.

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Preventive Action
 The organization shall establish processes to
proactively identify potential failures in asset
performance and evaluate the need for preventive
action.
 When a potential failure is identified the organization
shall apply the requirements of nonconformity and
corrective action.

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Continual Improvement
The organization shall continually improve the suitability,
adequacy and effectiveness of its asset management and
the asset management system.

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Annex A
Clause 6
Planning
Clause 9
Performance
evaluation
Clause 10
Improvement
Clause 8
Operation
Clause 5
Leadership
Clause 4
Context of the
organization
Clause 7
Support

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Information on Asset Management
Activities
ISO 55001, annex A
Relevant asset
management subject areas
are addressed by other
published international,
regional, or national
standards.
Data
manage
ment
Project
management
Energy
management
Inspection
Tero-
technology
Life cycle
costing
Financial
management
Environmental
management
Quality
management
Risk
management
ASSET
Condition
monitoring

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Asset Management System
 Improved Asset Management
 Improved financial performance
 Informed asset investment decisions
 Managed risk
 Improved services and outputs
 Demonstrated social responsibility
 Demonstrated compliance
 Enhanced reputation
 Improved organizational sustainability
 Improved efficiency and effectiveness
Benifits of Managing Assets

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Other ISO 55001 Trainings and Certifications
Consultant career development
PECB Certified
Lead Auditor
ISO 55001
(5 days)
• ISO 55001 certification process
• Fundamental audit concepts and principles
• Planning and Initiating an ISO 55001 audit
• Conducting an ISO 55001 audit
• Formulation of audit findings
• Concluding and ensuring the follow-up of an ISO 55001 audit
• ISO 55001 Internal audit management program

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Other Implementer Trainings and
Certifications
“Bridge” Training
An Implementer certified to a certain standard who would like to become
“Certified Lead Implementer" to another standard may, in preparation for
the certification examination, follow the complete “Lead Implementer”
course of that standard or just follow the two day "Foundation" course
ISO 9001
ISO 14001  Environmental management
 Quality management
OHSAS 18001
ISO 20000  IT Service management
 Health and safety management
ISO 22000
ISO 22301  Business continuity management
 Food safety management
ISO 27001
ISO 28000  Security management systems for the supply chain
 Information security management

ISO 55001 Asset Management System Overview

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