Asset Management System ( ISO 55001 : 2014 )
ISO 55001 is a significant element of the ISO 55000 group and outlines the basic requirements for a complete asset management system. It sets out the mandatory conditions for running an asset management system effectively, including the creation, implementation, maintenance, and improvement of the asset management system. By addressing the principles included in ISO 55000, ISO 55001 provides the organizations with defined goals and the formulations they must fulfill for having asset management goals very effectively and efficiently.
Importance Of Asset Management System (ISO 55001)
ISO 55001 is the standard that improves the management of assets through the successful meeting of the requirements of stakeholder, business, and the law that you are supposed to follow. It is a great tool for both saving time and money. Asset management being done rightly lets you maximize your assets and the business will flourish as a result.
This norm is prepared to enhance the process and the risk management that will further expand the company’s efficiency both in the present and the future. By implementing an Asset Management System according to ISO 55001, the sustainability objectives of the organization should be compatible with the asset management goals, which bring the organization closer to the anticipated outcomes. The alignment of asset management with the organizational goals is the main contribution of ISO 55001 in the organization’s success.
Working of ISO 5501 (AMS)
ISO 55001 comprises Annex SL, whose high-level structure is a common frame for new MgmtSys. standards. Therefore, now the risk of cumulation dissipation or even dissipation of required positive outcomes (e.g. profitable operations) will come up if the assets cannot fulfil the demands. This deck regulates the timing and the priority of different IA device groups so that more nodes and devices can offer efficient throughput. However, unlike the glucose meter, the insufflator is used as required. As a part of the cybersecurity aspect, we introduce a so-called Identity and Access Management (IAM) layer which is responsible for the protection of your organization’s vital resources and mandatory access to only your company’s employees.
The Plan-Do-Check-Act
The holistic model standardized by ISO 55001 is described by the Plan-Do-Check-Act (PDCA) cycle. The PDCA optimal approach is not to regulate only the asset; the PDCA cycle of improvement can be chaotic, and the ability of the management group to convey the information gain will be limited. The design image provides a schematic plan on how Clauses 4 to 10 are mapped with the PDCA cycle of ISO 55001.
Top Benefits Of ISO 55001 Certification
Seamless Integration Of AMS Into Management Systems
An example of integrating an asset management system is adding personnel courses like HSE, Security, Information Security of Quality, Environment, and Business Continuity among others and requires the leaders to be constantly updated on the issues as and manage the assets efficiently and related risks thoroughly. The interconnection of these elements greatly improves the organization’s risk and management of the business.
Standardization And Simplification
Large companies benefit from asset management as it standardizes the plant and equipment plus eases their complexity, which in turn leads to the cutting of the costs for spares, supplies, training, support. The optimal execution of the programs helps the organization calculate the value of the project in a better way and pays attention to the increase in the growth potential.
Personal And Process Safety
Implementing asset management systems play a vital role in both personal and process safety, in effecting the reduction of personal injuries and catastrophic events. The risk and operational management in a proactive way reduce the chances of incidents and accidents.
Image And Reputation
Assets have a key role in creating the positive association of the organization since they can be seen as a customer’s first impression of a company, as well as serving marketing purposes. Things like hospitality and retail where the functionalities of specific assets may be the very first point of customer interaction, good design can be directly related to the growth in volume of high traffic customers.
ISO 55001 Relation With Other ISO 55000 Series
There is a need for as many organizations as are the ones whose only option of producing the financial returns they seek is by supplying the capital goods, ones in the manufacturing, power sector, transport, and public sector, to be held responsible under the ISO 55001 standard because it is the standard that they will be using for the management of their assets.
ISO 55001 can be used on its own to design an asset management system, but it is more efficient if it is combined with ISO 55000, principles and terminology, and ISO 55002, practical guidance on how to implement the standards.