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Assets come from all sizes and shapes. However, one thing is certain: All organizations have assets. Assets can either give you a competitive advantage or drain your company’s resources. ISO 55001 is a great tool to help manage your assets. ISO 55001 is most relevant to capital-intensive industries, requires large amounts of physical assets, and has a high fixed cost. This could include distribution, utilities, heavy manufacturing, construction, property administration, and transportation.
ISO 55001 was published in January 2014. It establishes requirements not only for the maintenance and implementation of an asset but also for its improvement via an Asset Management system. It is a continuation of PAS55, which was proven to be successful in the utility industries. ISO 55001 is designed to be applied across all sectors so that all businesses can benefit.
It’s designed to give structure and direction to an Asset Management System, (AMS), to manage and mitigate risk.
ISO 55001 Australia is specifically designed to be used in the management and control of physical assets. However, it can also apply to other types of assets.
It doesn’t matter which assets need to be managed. The focus is on a proactive approach to asset management with the corresponding goals and actions, to ensure efficient and economic asset management across the entire asset lifecycle.
Stakeholder confidence is also increased when an asset management system is implemented and complex processes are managed within the organization. TUV NORD, an independent organization, certifies you and your stakeholders with enhanced security.
There are many benefits to obtaining certification
More business won
Certification of supply is often required as part of procurement specifications. This certification opens doors.
Customer satisfaction
Deliver products that consistently meet customer needs and provide dependable, reliable, and trustworthy services.
Improvements in stakeholder relations
Increase the company’s perception of employees, customers, and suppliers.
Compliance with legal requirements
Understanding the impact of statutory and regulatory requirements on your organization and customers
Business credentials that have been proven to work
Independent verification against an internationally recognized industry standard speaks volumes.
Operating costs reduced
Money saved is possible through continuous improvement of processes and the resulting operational efficiencies.
Improved risk management
It is easier to spot and fix problems when products and services are more consistent and easily traceable.
Other benefits of ISO 55001 Certification
Effective risk management
Good governance and a thorough understanding of and control over assets can increase stakeholder confidence (e.g. Insurance premiums will be lower if customers and regulators are acting for customers.
Integration seamless of AMS in Integrated Management Systems
Effective management of assets and risks is essential for current HSE, Security, Information Security, Quality, Environment, and Business Continuity Programs. Integrating a comprehensive AMS in the integrated management systems will add significant value to the overall Risk Management Model.
Standardize and simplify
Asset management is a way for large companies to standardize and streamline their plants and equipment. It also reduces the cost of spare parts and supplies. Training and support are also possible. The best asset management programs maximize the value and capitalize on the growth opportunities.
Personal safety and process safety
Effective asset management reduces risk and minimizes the possibility of catastrophic events and injuries. Preventive risk management and the operational management of assets will minimize the likelihood of incidents and accidents.
Image & reputation
The reputation and image of an organization are as important as its operation. Assets are also key to its success. Assets are often the entrance to an enterprise’s operations, such as retail and hospitality. Improved design leads to higher visits.
- Clearer and more efficient asset management systems that are based upon appropriate processes and key performance indicators.
- Individual assets are more productive and efficient
- Optimizing the planning process using valid data, this is especially useful in digitalization.
- The risks are identified and minimized, and the opportunities maximized.
- It is easier to make critical decisions when you plan and manage your plant and equipment in a systematic way
- Further, competencies are developed in-house
- Operative costs are lower and efficiency is improved, as well as a company value.
- Compliance with all legal and official regulations
- Your stakeholders’ needs are considered, which improves your image.