ISO 5500x-Family of Standards

5 Facts on ISO 5500x

ISO 55000 - Overview, principles and terminology

ISO 55001 - Requirements

ISO 55002 - Guidelines on the application of ISO 55001

The Document Structure in General

The ISO 5500x provides various definitions, principles and requirements for a conform asset management setup. For your orientation, we have compiled the five most essential facts on the following pages. All facts are summarized on the next page and subsequently explained in detail as you go through the document. This document concludes with an overview showing our methodology to prepare and guide your asset management to ISO 5500x readiness.

2

„It is not the strongest of the species to survive, nor the most intelligent, but the one most

responsive to change.“

Charles Darwin (1809-1882)

5 Facts, an Overview

1. The ISO is directed to all those whose business success is strongly dependent on an effective management of their assets.

2. An ISO 5500x compliant asset management is based on 4 core theses.

3. The ISO focuses the asset management system in 7 related topics.

4. The asset management system comprises 4 components. Each of those components‘ contents are derived from the hierarchically next highest component. This is to guarantee maximum compliance of the asset management system to the organizational targets.

5. ISO 5500x compliant asset management system is a risk based approach. As such, minimization of risks as well as taking advantage of opportunities for organizational targets are both trigger and justification for asset management actions.

3

Fact 1: Relevance of the ISO Standard

4

ISO 5500x

Set of AM-practices for an

Implementation of an asset

management system

Relevant for

1. those considering how to

improve the realization of value

for their organization from their

asset base;

2. those involved in the

establishment, implementation,

maintenance and improvement of

an asset;

3. those involved in the planning,

design, implementation and

review of asset management

activities;

4. along with service providers

Standard is intended to be used for

managing physical assets in particular,

but can also be applied to other asset

types.

Targets/ Benefits

Enabling of an organization to

consistently achieve organizational

targets through effective and

efficient management of assets

What? Why? Who?

Assets - thing or entity that has

potential or actual value to an

organization

Asset Management – Asset

management involves the balancing

of costs, opportunities and risks

against the desired performance of

assets, to achieve the organizational

objectives

Fact 2: Core Theses within the ISO Standard

5

Assets exist to provide value to the organization and its stakeholders and

should therefore be managed by an effective asset management system

Definition of assets within the

asset management system

Asset management transfers organizational objectives into decisions and

actions to achieve these objectives

Configuration and implementation of processes that support the

achievement of organizational objectives as well as processes to enforce

continuous improvement are essential. Continuous improvement means the

organization's ability to introduce sustainable and effective improvement of

the asset management and the asset management system itself

Strong leadership and organizational/ employee culture are essential

determinants to enhance value creation

Asset management serves the

purpose to achieve

organizational objectives

Implementation und

continuous improvement of

the asset management concept

Leadership and commitment as

essential module of asset

management

Fact 3: ISO 5500x is structured in 7 Core Topics

6

The qualification of the asset

management system is discussed within

7 core topics (chapter 4 – 10)

Ch. 4: Context of the organization

Ch. 5: Leadership

Ch. 6: Planning

Ch. 7: Support

Ch. 8: Operation

Ch. 9: Performance evaluation

Ch. 10: Improvement

Note: Existing management system

standards that currently do not follow this

structure will be adjusted with their next

revision.

7 Core Topics – the Structure of the ISO

Standard

Fact 4: 4 Core Components of an Asset Management System are

derived from organizational Objectives

7

The ISO Standard defines four separate

components of an asset management

system:

• Asset management policy

• Asset management objectives

• Strategic asset management plan

(SAMP) (high level strategy)

• Asset management plans

Each of those components‘ contents

are derived from the hierarchically next

highest component. This is to

guarantee maximum compliance of the

asset management system to the

organizational targets.

The four components of an asset

management system

Mo

nit

ori

ng

an

d Im

pro

vem

en

t

Asset

Owner

Asset

Manager

Asset

Service

Organizational

Context

AM Plans

Operations

AM Policy

AM Objectives

SAMP

Risk

Management

ISO 31000

Determination of the

scope of the asset

management system

with respect to

organizational and

stakeholder

requirements

Monitoring of the

conformity to

organizational

objectives of measures

and implementation of

a continuous

improvement process

Fact 5: ISO 5500x compliant Asset Management is a Risk based

Approach

8

Risk orientation is a major aspect of the

ISO 5500x compliant asset

management system. Risks emerge

whenever potential events threaten

organizational objectives. Nevertheless,

events may also be conductive and

therefore positive risks or chances.

Identified risks or chances are both

trigger and justification for asset

management actions.

Risk Orientation

E-Bridge guides you to ISO 5500x Readiness

9

• Description of existing asset

management concept

• Assessment of compliance with

ISO 5500x requirements

• Identification of needs for

action (organizational

requirements, processes and

regulations)

• Support during implementation

phase

• Audit of implementation of

identified organizational

requirements in phase 1 and

possible amendments

• Audit of processes and

regulations on ISO 5500x

compliance

• Support during actual

certification

• The certification will be

performed by a 3rd party to

ensure independence during the

certification process

Phase 1: Gap Analysis Phase 3: Certification Phase 2: Pre-Audit

Contact 10

David Faustmann

E-Bridge Consulting GmbH

Meckenheimer Allee 67

D-53119 Bonn

Phone +49 228 9090650

Fax +49 228 90906529

E-mail info@e-bridge.com

For more information about our

projects, customers and consultants

please visit our web site at

www.e-bridge.com

Disclaimer 11

The Copyright for the self created and presented contents as well as objects are always reserved for the author. Duplication, usage or any change of the contents in these slides is prohibited without any explicit noted consent of the author. In case of conflicts between the electronic version and the original paper version provided by E-Bridge Consulting, the latter will prevail.

E-Bridge Consulting GmbH disclaims liability for any direct, indirect, consequential or incidental damages that may result from the use of the information or data, or from the inability to use the information or data contained in this document.

The contents of this presentation may only be transmitted to third parties in entirely and provided with copyright notice, prohibition to change, electronic versions‘ validity notice and disclaimer.

E-Bridge Consulting, Bonn, Germany. All rights reserved.