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ISO 55001:2013 ASSET MANAGEMENT SYSTEM
ISO 55001:2013 is an international standard for ASSET MANAGEMENT SYSTEM
What is ISO 55001:2013 ASSET MANAGEMENT SYSTEM ?
ISO 55001:2013 is an asset management system standard whose major goal is to help enterprises better manages asset lifecycle management. Organizations will have better control over everyday activities, a higher return on their assets, and a lower total cost of risk by applying ISO 55001:2013. This standard can be used to any company’s organizational structure as well as any sort of asset. The tangible outcomes include increased effectiveness and a significant reduction in unit cost. This framework also encourages continuous performance improvement and provides enhancements for every industry, kind, or size of business.
Importance of ISO 55001:2013
By allowing you to meet stakeholder, commercial, and regulatory obligations, ISO 55001:2013 will steer you toward major asset management improvements. It is the company’s most effective defence in terms of cost-cutting and time-saving. You will be able to use your available assets wisely and get more out of their usage while giving extra value to the business if you effectively manage the assets.
It is intended to assist you in the correct management of processes and hazards, resulting in increased present and future corporate performance. Furthermore, implementing an ISO 55001:2013-compliant Asset Management System allows the business to connect its objectives with asset management system objectives, allowing the business to achieve its desired outcomes. Furthermore, because the goal of asset management is to achieve organizational goals, ISO 55001:2013 links the organization’s goals with asset management goals.
ISO 55001:2013 is intended to give an Asset Management System (AMS) structure and direction for managing and mitigating risk, measuring performance across all sectors, and increasing financial performance in line with organizational growth plans.
Features of ISO 55001:2013
- Enhances financial results.
- Enables competent asset investment decisions to be made.
- As a result, effective integrated risk management can be achieved.
- Improves the resiliency and dependability of the system.
- Enhances the quality of services and outcomes.
- Shows a sense of societal duty.
- Demonstrates adherence to regulatory requirements.
- It improves one’s reputation.
- Customer and stakeholder satisfaction is improved.
- Enhances the long-term viability of an organization.
- Enhances productivity and efficiency.
Why ISO 55001:2013 is Important?
EFFECTIVE VALUE, RISK AND RELIABILITY MANAGEMENT
Good governance, as well as a thorough knowledge and management of assets, can boost stakeholder confidence (e.g., customers and regulators working on their behalf) and lower insurance payments.
INTEGRATION OF AMS INTO INTEGRATED MANAGEMENT SYSTEMS IS SEAMLESS
The addition of a comprehensive AMS to the integrated management systems provides tremendous value to the organization’s overall risk and business management model.
STANDARDIZE AND SIMPLIFY
Asset management enables major firms to standardise and simplify their plants and equipment, lowering expenses for parts and supplies, as well as training and support. Asset management programmes that are optimised ensure that value is maximised and growth opportunities are taken advantage of.
PERSONAL AND PROCESS SECURITY
Efficient asset management increases personal and operational safety while lowering the chance of injury and disastrous incidents. The proactive risk evaluation and asset operational management ensures that mishaps and accidents are minimised.
REPUTATION AND IMAGE
Assets contribute to the organization’s reputation and image, just as they do to its operation. In industries like hospitality and retail, assets are frequently the front entrance of the business, and better design correlates directly to increased visits.
OTHER POTENTIAL BENEFITS
- Possibility of gaining additional business.
- Customer satisfaction is important.
- Stakeholder ties have improved.
- Observance of the law
- Operating costs are lower.
Certification Process
Analyze the gaps
This is an optional pre-assessment service in which certification body examine the current asset management system in further detail and compare it to ISO 55001:2013 criteria. This allows them to discover areas that require additional attention before a formal assessment, saving time and money.
Formal evaluation
There are two stages to this. The committee first assesses an organization’s readiness for assessment by determining if the appropriate ISO 55001:2013 procedures and controls have been developed. They will review the implementation of the processes and controls inside the organisation to ensure that they are working effectively as required for certification once all of the requirements have been met.
Certification and Beyond
Organization will receive an ISO 55001:2013 certificate after passing the official evaluation, which is valid for three years. During this time, the client manager will keep in touch with company, paying regular visits to ensure that the system not only remains compliant, but also improves.
Who needs ISO 55001:2013 Certification?
All businesses have assets, and ISO 55001:2013 certification may help them all. However, capital-intensive industries, such as the ones listed below, benefit the most from the standard.
UTILITIES
Many significant concerns face water, power, and other utility providers, including ageing infrastructure and increased regulatory scrutiny, which ISO 55001:2013 can help with. It encourages collaboration and communication among stakeholders, resulting in increased accountability and efficiency.
REAL ESTATE
It includes tools for guaranteeing building code and municipal bylaw compliance, coordinating massive remodeling projects, and dealing with tenant concerns. ISO 55001 interacts with real estate environmental management and energy management systems, just as it does with manufacturing processes, to minimise ongoing expenses while keeping units in good shape.
OIL & GAS
In the oil and gas business, efficiency is a major concern. ISO 55001 is scalable for deployment in multi-site operations in the oil and gas industry, ensuring unified asset management standards that are flexible enough to expand with your organization.
CONSTRUCTION
Construction, like oil and gas, entails expensive, specialized equipment that must be properly maintained in order to assure efficient — and cost-effective — operation. For fleet management, ISO 55001 is a very valuable instrument.
MANUFACTURING
Asset management will continue to be a top focus as more manufacturers shift to leaner production methods. ISO 55001 gives manufacturers a mechanism to keep track of building and equipment maintenance.
TRANSPORTAION
Improved fleet management, smarter and more effective route planning, and lower fuel and maintenance expenses are all advantages of ISO 55001 for transportation firms. While maximizing the use of your existing resources, ISO 55001 can discover tendencies that cost your organization money.
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