leaders in asset management possible (probable!) iso asset management standards npma chapter...
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Leaders in Asset Management
Possible (Probable!) ISO Asset Management Standards
NPMA Chapter Presentation
January 2011
Leaders in Asset Management
Leaders in Asset Management
The Institute of Asset Management (IAM)
Leaders in Asset Management
04/11/23
ISO authorises PC251 on Asset Management10 August 2010The Technical Management Board of ISO has recently authorised Project Committee 251 to develop an International Standard on Asset Management. TECHNICAL MANAGEMENT BOARD RESOLUTION 101/2010Establishment of a new PC on Asset managementThe Technical Management Board, establishes a Project Committee on Asset management and allocates the secretariat to BSI (United Kingdom).
Leaders in Asset Management
Background
04/11/23
• The Institute of Asset Management (IAM) is a UK based asset management association. • It’s ‘motto’ is: “the professional body for
through-life management of physical assets”.
Publishes ‘Assets Magazine’Membership: 360 individuals and 64
corporate
Leaders in Asset Management
Background
04/11/23
• In 2004, IAM, through the British Standards Institute (BSI), published “Publicly Accepted Specifications” (PAS) for Asset Management:
• PAS 55-1:2008, Part 1: Specification for the optimized management of physical assets
• PAS 55-2:2008, Part 2: Guidelines for the Application of PAS 55-1
Leaders in Asset Management
Background
04/11/23
• BSI has proposed three international standards for Asset Management based on PAS 55-1 and 55-2:
• Asset management - Overview, principles and terminology
• Asset management – Requirements• Asset management - Guidelines on the
application of ISO ????? (where ????? represents the number to be applied to the "Requirements" standard)
Leaders in Asset Management
Background
04/11/23
• International Organization of Standards (ISO):
• Comprised of many nation members.• Each member nation gets one vote• ANSI votes for the US• Consensus is not required; a 75%
‘approved’ vote is
Leaders in Asset Management
NPMA Response
04/11/23
The Council on Standards (COS), acting as the E53.90 Executive Subcommittee reviewed the proposed standards as well as PAS 55-1 and PAS 55-2. Findings are:•They are fine documents•High level, ‘consultant grade’ documents, do not get into a lot of specifics.•Does not get into the level of detail that NPMA documents and/or ASTM Property VCSs do; the ASTM E53 standards fit nicely into many of the niches in the proposed ISO standard.
Leaders in Asset Management
E53 Response
04/11/23
Formed Subcommittee E53.10, ISO Asset Management Activities, officers:
Chair: Lyle Hestermann, CPPM CF, MIAM
Vice Chair: James Dieter, CPPM CF
Recording Scott PeppermanSecretary:
ASTM Staff Pat PicarielloManager
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E53.10 Response
04/11/23
• Subcommittee E53.10 has applied to ANSI to form a Technical Advisory Group (TAG) for PC251
• ANSI approved/accepted our application in early December 2010.
Leaders in Asset Management
Who Can Participate?
04/11/23
Anybody can participate in E53.10 or the proposed TAG.
However, to form and maintain a TAG, ANSI requires an application fee as well as an annual maintenance fee. In order to generate those fees, the TAG is offering full voting memberships,
for a fee. Contact E53.10 officers for further details.
Leaders in Asset Management
What Do The Proposed Standards Look Like?
04/11/23
• This International Standard is applicable to all types of organizations• The organization shall establish, document, implement, maintain and
continually improve an asset management system in accordance with the requirements of this International Standard.
• The organization shall define and document the scope of its asset management system.
Leaders in Asset Management
Considerations
04/11/23
An organization should consider, but not limit itself to, the following items within its review:
⎯ the organizational strategic plan; ⎯ legal, regulatory and other mandatory requirements; ⎯ identification and evaluation of the asset management risks faced by
the organization; ⎯ existing asset management practices, process(es) and/or
procedure(s); ⎯ the performance of the assets and asset systems (including suitability,
utilization, condition, longevity and costs); ⎯ feedback from the investigation of previous incidents, accidents and
emergencies; ⎯ relevant management systems, competencies and available
resources (internal and external).
Leaders in Asset Management
Considerations
04/11/23
• Stakeholder requirements• Risk• Self Audit• Periodic Review• Historical Data• Benchmarking• Best Practices• Management Review
Leaders in Asset Management
What Do The Proposed Standards Look Like?
04/11/23
• The organization’s top management shall authorize an overall asset management policy.
• Top management should arrange for the production of the asset management policy.
Leaders in Asset Management
Questions?
Want to join E53.10 or the US TAG?
Contact Lyle, Jim, Scott or Pat
[email protected] 260.429.4082
James Dieter, [email protected] 703.629.9014
Scott Pepperman [email protected] 717-389-5100
Pat Picariello, [email protected] 610.832.9720