Chances are if you are searching for information on ISO 55000 you already know what it pertains to – Asset Management Systems. Additionally, if you are curious about ISO 55000 you likely are truly curious about ISO 55001 which lists the actual requirements for the Asset Management System. This is because ISO 55000, 55001 and 55002 are commonly lumped into the ISO 55000 Series. As you also probably know, you can find generic descriptions of these standards and the differences between them on every other ISO 55000 article; This is not that type of article.

Almost every maintenance manager has thought to themselves, “there has to be a better way to achieve this goal,” only to realize the organization and its governance are critical to the successful implementation of improved physical asset management. For those of you with a vision of improving physical asset management within your manufacturing operations, perhaps the largest threat to successful implementation are the past practices which have already been widely accepted and deployed.

Supply and demand out of phase, finished goods and raw materials supply chains disrupted, energy costs instability, and skilled workers shortages are all common concerns across the globe. Solutions for relief are paramount. In these troubling times of global financial uncertainty any improvements in how we operate our equipment is sought. It is said that the product of asset management (AM) is reliability, that is, poor management equals poor reliability and good management practices will provide good equipment reliability.