ISO 55001; First Edition, 2014-01-15 Overview of “Asset management—Management systems--Requirements March 30, 2014 Array Strategies Inc. "Bridging Process and Compliance" 4/3/2014 Array Strategies Inc.
ISO 55001; First Edition, 2014-01-15
Overview of “Asset management—Management
systems--Requirements March 30, 2014
Array Strategies Inc. "Bridging Process
and Compliance" 4/3/2014
Array Strategies Inc.
ISO 55001 Overview
•Introduction
•Scope
•Normative reference
•Context of the Organization
•Leadership
•Planning
•Support
•Operation
•Performance Evaluation
•Improvement
Array Strategies Inc. "Bridging Process
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Introduction
•This standard provides a framework for asset management
•It is intended for use by:
•Those involved with establishing, maintaining and improving
asset management systems.
•Those providing services related to asset management
•Those involved in assessing an organization’s ability to meet
contractual, regulatory or legal requirements (internal or
external parties)
•The standard is designed to facilitate alignment of an asset
management system with other management system
requirements (I.E. ISO 9001, 14001)
Array Strategies Inc. "Bridging Process
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Scope
•This standard specifies asset management system
requirements—within the context of the organization.
•This standard may be applied to any type of asset, by any size
or type of organization.
NOTES:
•While this standard is intended for physical assets it may be
applied to other assets.
•This standards does NOT specify financial, accounting or
technical requirements for managing specific types of assets.
Array Strategies Inc. "Bridging Process
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Normative reference
•Indispensable for the application of this standard is:
ISO 55000:2014 Asset management-Overview, principles and
terminology.
•The foregoing standard is also the source for “Terms &
Definitions”.
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Context-section 4
4: Context of the Organization:
4.1: Organization SHALL determine internal and external issues
germane to its purpose & strategic direction that have a bearing
on the ability to achieve intended outcomes.
Asset management objectives shall be aligned with
organizational objectives. These are to be in the “SAMP”
(strategic asset management plan)
NOTE: The concept of “context” is also pertinent to risk
management (ref ISO 31000)
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Context
4.2: SHALL determine needs, requirements and expectations of
stakeholders: relevant to the AMS (asset management system)
•The above includes stakeholder requirements for recording
salient financial and nonfinancial information—internal & external
reporting expectations.
•Shall determine the criteria for asset management decision
making
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Context
4.3: SHALL determine boundaries and applicability of the AMS.
This must align with the SAMP (strategic asset management
plan) and AM policy. Consider:
•External and internal issues related to “context”
•“Requirements” from 4.2 above.
•Interaction with any other management standards deployed (IE
ISO 9001 or 14001)
The defined asset portfolio shall be covered by the scope of the
AMS—scope is to be “documented information” (see 7.6 below)
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Context
4.4: SHALL establish, implement and maintain and AMS
including:
•Required processes and their interaction.
•SAMP which includes the role of the AMS in achieving defined
AM objectives.
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Leadership-section 5 5.1: Top Management shall demonstrate leadership and
commitment with respect to the AMS by ensuring:
•AM policy, SAMP and AM objectives are compatible with
organizational objectives.
• Integration of QMS with business processes
•Required resources needed for the AMS are available to achieve
intended outcomes.
•Directing and supporting personnel to contribute to the system’s
effectiveness.
•Promoting cross functional collaboration & continual
improvement.
•Asset risk management is aligned with overall risk strategies
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Leadership-section 5 5.2: Top Management shall establish an AM policy that:
•Is appropriate to the nature and scale of the organization
•Provides a framework for setting objectives
•Commits to satisfying all requirements to continual improvement.
•Is communicated in the operation and available to stakeholders
as appropriate.
•Is reviewed and updated as required.
•Is available as “documented information” (ref. 7.6 below)
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Leadership-section 5
5.3: Top management SHALL-define roles, responsibilities with
respect to the AMS and ensure they are communicated through
the operation. Specifically responsibility & authority for:
•Establishing and updating the SAMP, including objectives
•Ensuring the AMS supports the SAMP
•Ensuring the AMS remains suitable for the operation and
compliant with this standard.
•Reporting performance of the AMS
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Planning-section 6
6.1: Planning for the ASM requires that the organization shall
consider:
•Actions to address risks and opportunities—must consider
context
•Design the QMS to achieve desired outcomes—in context
•Prevent/reduce undesired effects
•Achieve improvement
•Process to address, integrate and evaluate effectiveness of
actions ensuing from the above
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Planning-section 6
6.2.1: Planning AM objectives—shall be integrated with other
planning activities including financial, human resources and other
key planning functions. AM objectives shall:
•Be consistent and aligned with organizational objectives
• Reviewed and updated as part of the SAMP
•Be measureable—as practical and monitored as applicable
•Consider requirements imposed on the assets or the system
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Planning-section 6
6.2.2: Planning to achieve AM objectives—shall be integrated
with other planning activities designed to achieve results. AM
Management Plans shall:
•Be aligned with the policy and the SAMP
• Indicate the method and criteria for decision making and
application of resources to achieve planned objectives
•Methods to be employed to manage assets over their life cycle
•The who, what, when, where and how of the methods
•Evaluation criteria, financial and other implications.
•Actions to assess and mitigate risk associated with managing
the asset. (See ISO 31000—re risk management)
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Support-section 7 7.1: Resources—determine what’s needed to establish,
implement, maintain and improve the AMS. Such resources
shall be provided. For persons whose work affects asset
performance assure:
7.2: Competence: Define required competencies; ensure
persons filling roles are competent; take action where there are
competencies gaps—retain documented evidence of competence
7.3: Awareness: Of-policy; their impact on asset performance and
impact on effectiveness of the AMS; their work activities and
related risks and implications of not following the system.
7.4: Communication: Define channels for internal & external as
relevant to assets and the ASM. (What, to whom, by whom via
what means)
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Support-section 7
7.5: Information requirements: Shall determine information
requirements related to assets, asset management and the ASM.
In so doing:
•Shall consider significance of risk; roles and responsibilities of
management; AM processes; information exchange with
stakeholders; availability and quality if information supporting
organizational decision making.
•Shall determine information attributes; quality along with the
“how & when” of collection, analysis & reporting of information.
•Shall specify, implement & maintain processes for managing
information
•Shall determine alignment of information with financial & non
financial information and the traceability/integrity thereof.
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Support-section 7
7.6.1: Documented Information; the AMS shall include
documented information:
•As required by the standard as explicitly stated @ various
clauses.
• As applicable to legal or regulatory requirements
•As DETERMINED BY THE ORGANIZATION as being necessary
Extent of documentation will vary from organization to one
another—size, complexity, competence –are factors
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Support-section 7
7.6.2: Creating and updating- shall ensure that appropriate:
format (media, style, graphics et al); approval authority &
identifiers (title, date, number, source—as required) –are all
defined.
7.6.3: Documented information shall be controlled to ensure:
•It is available for use where required
•That revisions are controlled and updated at points of use
•That it is secured from tampering by unauthorized persons –
consideration to be given to risk, confidentiality, regulatory or risk
oriented retention time specifications
•That information of external origin, disseminated or used in the
organization, is the most current available.
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Operation-section 8
8.1: Operation, planning & control—Shall plan, implement and
control processes needed to meet requirements and the AMP
(6.2) and related corrective or preventive actions (determined
from 10.1 & 10.2)
•Documented information shall be to the depth and breadth
necessary to assure the process is executed as planned and that
risk is mitigated.
8.2: Management of change—risk associated with any change
must be assessed BEFORE the change is implemented.
•Change implementation must be managed and controlled (I.E:
see 7.6 above—control of information)
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Operation-section 8
8.3: Outsourcing AM activities requires definition of:
•Type and extent of control of external input predicated on RISK
and potential impact; agreements with the provider regarding
shared risk—and the boundaries around “who does what”.
•Responsibility and authority for managing outsourced processes
•Shall establish and apply criteria for the monitoring of
outsourced providers (re 9.1)—documented information to be
retained.
•The vendor must be informed and competent and information
flowing to and from the vendor must be controlled (ref 7.2, 7.3
and 7.6 above)
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Performance evaluation-section 9
9.1: Measuring, monitoring analysis and evaluation demands that
the organization shall:
•Determine what needs to be measured and how—”how” must
consider validation/integrity of information used.
•When monitoring and measurement is conducted.
•When the foregoing is evaluated, reported and acted upon
Such monitoring, evaluation & reporting shall indicate:
•Asset performance
•Asset management performance (financial & non financial)
•The effectiveness of the AMS
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Performance evaluation-section 9 9.2: Internal audit:--Shall conduct internal audits at planned
intervals that must:
•Assure the AMS conforms to this standard and supports the
organization’s own AMS objectives.
•Be supported by a defined program—that defines who, what,
when.
•Have defined scope and objectives and criteria
•Be conducted by impartial and objective auditors
•Be evidenced by documented in formation (report) and reviewed
by management.
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Performance evaluation-section 9 9.3: Management review: management shall review the AMS at
planned intervals to ensure ongoing suitability & effectiveness.
Reviews shall consider:
•Actions/issues from previous reviews
•Any changes/influences (external or internal) that may have a
bearing on the AMS
•Data re AMS performance (corrective actions, risks, audit
results, performance measures results, improvement
opportunities)
•Changes in risk profiles.
Output is to be document and include decision and actions
Array Strategies Inc. "Bridging Process
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Improvement-section 10
10.1: Nonconformity & corrective action: In the event of a
nonconformity, or an incident, action shall be taken,
commensurate with the risk associated with the issue, to:
•Address any required immediate remediation
•Understand the root cause
•Mitigate the root cause (I.E. training, new procedure, capital
investment)
•Verify planned action was taken and implemented
•Assure corrective measures were effective.
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Improvement-section 10
10.2: Preventive action: Shall establish a process to proactively
identify potential failures (risk identification) and evaluate the
need for preventive action.
Process details similar to 10.1 above.
10.3: Improvement: Shall continually improve the suitability and
effectiveness of the AMS (E.G. review measure targets and raise
goal posts and targets are met)
Array Strategies Inc. "Bridging Process
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