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    Keynote ISO 55000 The IAM Perspective

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    Sushayan Hunsasuk
    The document is a presentation on ISO55000 given by David McKeown, the Chief Executive of the IAM (Institute of Asset Management). It discusses: - The history and development of ISO55000, including the involvement of the IAM in initiating the standard. - The current status of ISO55000, with the 3 documents expected to be published as international standards in October 2013. - The key concepts defined in ISO55000, including definitions of an asset management system, the asset life cycle, and understanding asset value. - Next steps for the IAM in supporting the new standard, including defining the asset management discipline and profession.

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    Keynote ISO 55000 The IAM Perspective

    Uploaded by

    Sushayan Hunsasuk
    493 views66 pages
    The document is a presentation on ISO55000 given by David McKeown, the Chief Executive of the IAM (Institute of Asset Management). It discusses: - The history and development of ISO55000, including the involvement of the IAM in initiating the standard. - The current status of ISO55000, with the 3 documents expected to be published as international standards in October 2013. - The key concepts defined in ISO55000, including definitions of an asset management system, the asset life cycle, and understanding asset value. - Next steps for the IAM in supporting the new standard, including defining the asset management discipline and profession.

    Original Description:

    Asset Management Information

    Original Title

    Keynote ISO 55000 the IAM Perspective

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    The document is a presentation on ISO55000 given by David McKeown, the Chief Executive of the IAM (Institute of Asset Management). It discusses: - The history and development of ISO55000, including the involvement of the IAM in initiating the standard. - The current status of ISO55000, with the 3 documents expected to be published as international standards in October 2013. - The key concepts defined in ISO55000, including definitions of an asset management system, the asset life cycle, and understanding asset value. - Next steps for the IAM in supporting the new standard, including defining the asset management discipline and profession.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    493 views66 pages

    Keynote ISO 55000 The IAM Perspective

    Uploaded by

    Sushayan Hunsasuk
    The document is a presentation on ISO55000 given by David McKeown, the Chief Executive of the IAM (Institute of Asset Management). It discusses: - The history and development of ISO55000, including the involvement of the IAM in initiating the standard. - The current status of ISO55000, with the 3 documents expected to be published as international standards in October 2013. - The key concepts defined in ISO55000, including definitions of an asset management system, the asset life cycle, and understanding asset value. - Next steps for the IAM in supporting the new standard, including defining the asset management discipline and profession.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 66
    At a glance
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    Some of the key takeaways are that ISO55000 aims to define requirements for an effective Asset Management system, PAS55 is a widely adopted standard for Asset Management, and adopting PAS55 can provide benefits like improved decision making and transparency.

    ISO55000 aims to define requirements for a good practice Asset Management management system. It contains nothing on 'how well' an organization needs to develop its Asset Management capabilities, but establishes a framework. PAS55 is an existing standard that ISO55000 is based on.

    Adopting PAS55 can provide benefits like credibility for stakeholders, transparency in decision making, encouragement of improved communication, and enabling organizations to develop best practices through benchmarking.

    ISO55000

    the IAM Perspective


    David McKeown
    Chief Executive
    8 May 2013 CNAM Conference Edmonton

    Agenda
    Assets, their management and concepts

    So why did the IAM initiate ISO55000?


    Where are we right now?

    What will be different in an ISO55000 world?


    Some comments!
    What is the IAM doing to support Individual and
    Corporate Members and the public generally?

    What about your assets?


    When you maintain your home, what are your criteria?
    Performance?
    Level of Service?
    Spend the money on a holiday instead!
    Do you do it out of OPEX or CAPEX with a loan?
    How do you value it / cost it?
    Historic / Fair Value?
    Or outcomes more than valuation?

    What about You?


    What is your useful life?
    What is your remaining life?

    Do you have a strategy or even an asset management


    plan?
    Who for? Top management?

    Done a report card lately?


    What is your value!!!!!!

    (The real) Agenda


    What have we learned over the last decade?
    Bluffers Guide to ISO55000

    What Next?
    Defining the discipline
    Defining the profession
    Support The Journey
    Discussion

    Asset Management in 2013


    The understanding of Asset Management has developed
    significantly over the last decade
    A number of approaches, standards and models have been
    developed across the world e.g. BSI PAS 55
    ISO 55001 will define the requirements for a good practice
    AM Management System
    It will deliberately contain nothing on how well a business
    needs to develop its Asset Management capabilities
    It does not in itself guarantee you will do asset management
    There is a growing demand for Asset Management
    knowledge, guidance and qualifications to support ISO 55000
    These need to be developed in a global context

    BSI PAS 55:2008


    BSI PAS 55:2003 effective April 2004:
    Part 1 The Specification Part 2 Guidelines

    PAS 55 : 2008 effective September 2008


    Key principles:
    Inclusive
    Whole Life
    Optimized

    Risk-based
    Data-supported
    Continuous improvement
    Pragmatic

    BSI best seller global default standard


    still needs improvement
    (eg infrastructure -v- the rest)
    The IAM Toolkit:
    PAS55;
    Competences Framework; and
    PAS55 Assessment Methodology.

    Revising PAS55
    49 organisations from 15 industries in 10 countries
    Organisations sponsoring PAS 55 Review
    Industry Sectors

    Organisations sponsoring PAS 55 Review


    Geographical footprint
    Scandinavia

    Electricity/gas
    distribution

    Australia
    Far East
    North America

    Power generation
    Manufacturing

    UK

    Water

    Engineering/
    consultancy

    Multinational

    Transport
    Mining

    Benelux

    Benefits of adopting PAS55

    Credibility for all stakeholders audit trail for decision making


    Raises board room visibility
    Transferable and not prescriptive - common language
    Encourages improved communication in business
    Independent of business model
    Risk based decision making encourages a cost effective
    approach
    Provision of a framework that is sustainable
    Enables gap analysis to develop best practice benchmarking
    opportunities
    Transparency of decision making (keeps you out of court?)
    Puts AM on the map
    Holistic

    Certification to PAS55
    Pros

    Cons

    Perceived as a lot of
    additional work
    External Costs
    Go / No Go no
    incentive to out-perform
    Just a badge
    Fear of embarrassment
    / regulator reaction

    Credibility of BSI
    Recognised Standard
    Regulators like it
    Independent
    certification
    Easy to communicate
    success
    Aligned with other
    standards ISO9000

    So what next?
    Choices for the IAM, in 2008:
    PAS55 / BS / EN / ISO ???
    Risks of lowest common denominator
    Time and lack of control

    IAM wants to move on to how to and capability


    Aim to promote convergence of thinking / theory
    and collaboration worldwide

    Repeat after me

    Asset Management is
    NOT about
    the Management of Assets

    Business Drivers
    What asset costs can be reduced, deferred or eliminated?
    How can we spend less on assets and achieve our targets?
    How can we get better returns on capital employed?
    How can we avoid the risk of assets being unavailable when
    we need them?
    How can we demonstrate levels of asset related risk are
    known and appropriate?

    How can we improve the deployment and maintenance of


    assets?

    (The real) Agenda


    What have we learned over the last decade?

    Bluffers Guide to ISO55000


    What Next?
    Defining the discipline
    Defining the profession
    Support The Journey
    Discussion

    What is ISO/PC251?
    Tasked with developing 3 International Standards

    ISO 55000
    Asset management Overview, principles and
    terminology

    ISO 55001
    Asset management Management systems Requirements

    ISO 55002
    Asset management Management systems Guidelines on the application of ISO 55001

    ISO PC251 Preliminary Meeting


    London June 2010

    A Brief History
    Background
    UK submitted NWIP in July 2009 for an Asset Management ISO
    London Meeting resulted in formation of a Project Committee
    BSI PAS 55:2008 adopted as the Base Document
    (PAS55 released in 2003 and revised in 2008 developed by 49
    organisations from 15 industries in 10 different countries

    ISO/PC251
    Melbourne Mar11: Initial Plenary Meeting - 40 representatives from
    14 countries
    Now 27 participating countries with 10 observers (number of
    delegates varies)
    Calgary was biggest ever meeting with 80 delegates approx

    Participating Members

    1. Argentina
    2. Australia
    3. Canada
    4. Czech Republic
    5. Denmark
    6. Finland
    7. France
    8. Germany
    9. India

    10. Ireland
    11. Italy
    12. Japan
    13. Republic of Korea
    14. Mexico
    15. Netherlands
    16. Peru
    17. Portugal
    18. South Africa

    19. Spain
    20. Sweden
    21. Switzerland
    22. United Kingdom
    23. United States of America
    24. United Arab Emirates
    25. China
    26. Belgium

    Observing Members

    1. Armenia
    2. Austria
    3. Hong Kong
    4. Iraq
    5. Israel
    6. Malaysia
    7. Morocco

    8. New Zealand
    9. Norway
    10. Slovakia
    11. Thailand

    The Programme
    Melbourne
    Mar 2011

    Month

    Washington Pretoria

    Prague

    Calgary

    Feb 2012

    Jun 2012

    April 2013

    Oct 2011

    Feb 2014

    1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36

    Stage

    Working Drafts

    Jun 2011

    Sep 2011

    Distribute WD2
    WD2
    Comments
    RCVD

    CD1
    For Comment

    Cttee Drafts

    CD2
    For Ballot

    DIS

    DIS

    Comments
    Resolution

    FDIS

    Current Status
    All three documents are agreed by PC251 to be ready for
    Final Draft International Standard status

    1 month for editing and PC251 approval


    2 months international ballot / translation etc
    Potentially published in October 2013!
    One of the first ISO Standards to be published with the ISO common
    High Level Structure (as per Annex SL)
    ISO9001 and ISO14001 are currently revising to align them with
    ISO55000 and Annex SL
    ISO 17021/5 Competence Requirements for Certification and
    Auditing in draft to be published for comment simultaneously

    Diagrams!

    Asset Management
    coordinated activity of an organization to
    realize value from assets
    Note 1: Realization of value will normally involve a
    balancing of costs, risks, opportunities and performance
    benefits.
    Note 2: activity also refers to the application of the
    elements of the AM system
    Note 3: the term activity has a broad meaning and can
    include, for example the approach, the planning, the plans
    and their implementation

    Asset Management System


    Management System
    set of interrelated or interacting elements of an organisation
    to establish policies and objectives and processes to
    achieve those objectives
    Note 1: A management system can address a single discipline or several
    disciplines.
    Note 2: The system elements include the organisations structure, roles
    and responsibilities, planning, operation, etc.
    Note 3: The scope of a management system may include the whole of the
    organization, specific and identified functions of the organisation, specific
    and identified sections of the organisation, or one or more functions
    across a group of organisations.
    Note 4: The asset management management system also includes the
    strategies and plans.

    Life & Life Cycle


    Life Cycle
    the stages involved in the management of an asset
    Note 1: The naming and number of the stages and the activities under each stage
    are usually different by industry sectors and determined by the organization

    Asset Life
    period from asset creation to asset end-of-life

    Understanding Asset Value


    PAS55 = Plant, machinery, property,
    buildings, vehicles and other items that have
    a distinct value to the organization

    ISO = something that has potential or


    actual value to an organization
    So how do you extract value?

    Asset Management Fundamentals


    (previously Principles)
    Value - Assets exist to provide value to the
    organization and its stakeholders
    Alignment - Asset management translates
    organizational intent into technical and financial
    decisions, plans and activities
    Leadership - Leadership and workplace culture
    are determinants of realization of value
    Assurance - As a process, asset management
    assures that assets will fulfil the required purpose
    Source ISO 55000 May 2013

    Bluffers Guide
    So, how do you convince your boss you were not asleep or partying at
    the CNAM Conference?

    Learn a few easy but deep phrases and hope he wont want to look
    ignorant by getting you to explain
    Assets, Asset Management and the AM System

    The Fundamentals of Asset Management


    The AMS is the necessary but not sufficient ingredient
    But is it a shall statement?
    Our focus must be culture, change and leadership
    Forget the assets, its all about the value, Stupid!

    So, will it work?


    Does Microsoft Word work?

    Management and Leadership


    Culture and Vision and Line-of-Sight
    Training formal and on-the-job
    The Asset Management Profession

    (The real) Agenda


    What have we learned over the last decade?
    Bluffers Guide to ISO55000

    What Next?
    Defining the discipline

    Defining the profession


    Support The Journey
    Discussion

    Asset Management Anatomy


    Intro
    Disambiguation
    (asset management and Infra /
    Enterprise / Physical / Strategic
    etc)
    Principles & Philosophy (history,
    PAS55, ISO uses PAS55) and
    using the ISO Principles;
    The Scope of Asset
    Management (uses model and
    similar diagrams linking
    strongly with LoS etc;
    39 Subjects (as per Warwick
    doc)

    The Boundary

    Core

    Landscape

    IAM Framework

    Current Work

    Body of Knowledge
    Reviewing Endorsed Trainer & Assessor Schemes
    Knowledge Centre Project (case studies)
    Beyond PAS55 Compliance work streams
    International relationships & Global Forum (GFMAM)
    International Accord Project
    Asset Management Competence:
    Certificate / Diploma
    Revised Competences Framework

    Events - strategic review (incl badging)

    (The real) Agenda


    What have we learned over the last decade?
    Bluffers Guide to ISO55000

    What Next?
    Defining the discipline
    Defining the profession
    Support The Journey

    Discussion

    Objections
    Dont you know theres a (war) crisis on?
    I cant afford to spend on luxuries like Asset Management!
    How long do I have to wait for this fad to go away?
    Its great but it doesnt apply to me!
    But Ive got enough to do already!

    ----------------------------------------------------------------------------------------------------------------------------------------------------------------------

    Spending money wisely is not a luxury!


    This is NOT going to go away!
    Oh yes it does!
    This is not more work to do, its about the way you handle
    the challenges of the real world and this is a real world,
    proven solution.

    Did you remember?


    The AMS does NOT do Asset Management for you
    Culture, Culture, Culture and leadership

    Line of Sight, Strategy above Plans,


    Coordinated activity of an organization to realize value
    from assets

    Something that has potential or actual value to an


    organization
    Value not valuation
    Asset Management is NOT the Management of Assets

    Why do Asset Management?


    Business benefit
    Real value, performance, risk control etc
    Governance & longer-term thinking
    People and silos / business processes

    Stakeholder demand similar to ISO 14000 etc


    Future
    Compliance ISO 55000/1/2
    Financial / Annual Reports

    Just Good Management!

    Further Information
    Thank you for listening
    Do ask Questions

    CEO@theIAM.org

    www.theIAM.org

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