July 10, 2016

Maintenance, as one dimension of asset management

O’Hanlon states emphatically that, “Asset management is not about managing assets. It is about delivering valueto an organization through the effective utilizationof its assets.” Clearly, it’s a business imperative for companies to manage their assets effectively, including intellectual property, human and physical assets. While maintenance is an essential element in asset management, however, most seem to be focusing their interpretation of PAS55 and ISO55000 on managing physical assets and maintenance, in particular.

The Institute of Asset Management (IAM) has published Asset Management – An Anatomy. It’s a really good document and it states: “The tools and technologies may be helpful, but the engagement of the workforce, the clarity of leadership, and the collaboration between different departments and functions are the real differentiators of a leading asset management organization.” I couldn’t agree more. It also states, “The enduring objectives of the GFMAM (Global Forum on Maintenance and Asset Management) are: To bring together, promote and strengthen the maintenance and asset management community worldwide.”

No doubt that the formal issue of ISO55000 would be profitable for maintenance management agencies, and it should be. But companies shall keep in mind that maitenance management alone will never be able to achieve effective asset managment fulfilling business objectives.

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