ISO 55002 - What Asset Managers Need to Know

ISO 55002

Overview

ISO (the International Organization for Standardization) states in ISO 55002 that its guidance is for “those involved in the establishment, implementation, maintenance, and improvement of an asset management system” and “those involved in delivering asset management activities and service providers.”

There are two useful Annexes in ISO 55002. Annex A lists activities that are useful to organizations building a Strategic Asset Management Plan (SAMP) in accordance with ISO; Annex B provides a graph depicting the components of the SAMP and their relationship to each other.

The strategic asset management plan (SAMP)

A SAMP is used to comply with the goals of the organization and its stakeholders. ISO uses the term “Context” to describe an organization’s goals.

Below is a chart that shows the steps of building and maintaining the SAMP. It demonstrates the forces and considerations that are required.

  • The dark blue lines indicate the levels required to develop and maintain the plan
  • The dashed lines and light blue lines show the inputs and analysis required

Diagram: The relationship between key elements of an asset management system

Components of the SAMP

ISO shapes the requirements to build and maintain the SAMP through clauses. The first requirement for a SAMP begins in Clause 4 and goes up from there. The diagram above shows how an ISO SAMP functions.

The clauses of the ISO SAMP are:

  • The context of the organization (Clause 4)
  • Leadership (Clause 5)
  • Planning (Clause 6)
  • Support (Clause 7)
  • Operation (Clause 8)
  • Performance evaluation (Clause 9)
  • Improvement (Clause 10)

Context (Clause 4)

According to ISO 55002, the SAMP is required to fit within the organization’s objectives and plans. Elements of the Context clause outline each part of the SAMP and its corresponding requirements.

From a high level, the SAMP is designed to be scalable between organizations of varying sizes. It outlines the unique policies, objectives, and plans that fit each organization.

Leadership (Clause 5)

“Asset management leadership can be demonstrated by top management through positively influencing the organization….” according to Clause 5.1 in the standard. This means that leaders need to commit to the process and be able to demonstrate this commitment throughout the life of the SAMP. ISO 55002 identifies what leadership is required and how it is measured.

Planning (Clause 6)

The planning clause is probably the first familiar topic for experienced asset managers. It describes the development of asset objectives as well as the risk and rewards for every decision that is made. The thought requirements for decision-making processes are spelled out clearly in clauses 6.2.1.2 and 6.2.1.3.

There are also some financial, customer service, and performed-related considerations suggested in Clause 6 that may be new to some managers assembling the SAMP, including:

  • The total cost of ownership
  • Net present value
  • Return on capital employed
  • Performance against plan
  • Certification of the SAMP through benchmarking
  • Customer satisfaction scores
  • Society or reputation survey results
  • Environmental impact (carbon costs)
  • Level of service

Support (Clause 7)

Support is broken down into six different parts in ISO 55002, including:

  • Resources
  • Competence
  • Awareness
  • Communication
  • Information requirements
  • Documented information

A detailed explanation of each of these components is expanded on in ISO 55002. Asset managers may find a new perspective in many of these requirements. For example, competence would seem a standard definition, but the need to consider future requirements and the ongoing sampling of current staff is new to many.

Support requirements are an excellent example of the duties described in the Leadership clause. It ties the ownership of the SAMP to the entire organization and not just the maintenance and reliability team.

Operation (Clause 8)

The Operation clause has three divisions, including:

  • Operational planning and control
  • Management of change
  • Outsourcing

Maintenance and reliability organizations will be accustomed to most of the recommended components of the operational planning and control section of ISO 55002. The management of change process is familiar to many segments of the organization.

Outsourcing requirements may be unique to some asset managers, but not to members of the quality and production teams. The outsourcing requirements of ISO 55000 are like ISO’s needs for 9000 plans. Outside suppliers for an ISO 9000 facility are required to meet the same standards as the facility. ISO 9000 organizations must develop and manage a program to ensure their suppliers meet ISO 9000 standards. ISO 55000 organizations are required to have a similar plan.

Performance Evaluation (Clause 9)

The ISO 55000 process is a constant feedback model. Activities and results need regularly monitored and analyzed. The evaluation process must also be evaluated at a frequency developed by the SAMP. This is the overall gist of Clause 9 in ISO 55002.

Improvement (Clause 10)

Dormant organizations fail and adherence to ISO 55000 cannot be inactive by design. ISO 55002 presents expectations in dealing with nonconformity. Investigations should have a set procedure to implement corrective actions.

Conclusion

The SAMP and adherence to ISO 55000 is a holistic system that engages the entire organization. Stakeholders and the SAMP are continuously being evaluated and improved. ISO 55002 provides the most significant details needed to achieve compliance with ISO 55000.

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