ISO 55000 Standard for Asset Management

Assets, and value realized from them, are the basis for any organisation delivering what it aims to do. Whether public or private sector, and whether the assets are physical, financial, human or โintangibleโ, it is good asset management that maximizes value-for-money and satisfaction of stakeholdersโ expectations. It involves the coordinated and optimized planning, asset selection, acquisition/development, utilization, care (maintenance) and ultimate disposal or renewal of the appropriate assets and asset systems. Insights into the integration and optimization of asset management have developed since the 1990s (from the North Sea oil and gas industry and the Australian public sector), to identify a range of essential business processes, alignment activities, and system integration features that yield very significant performance benefits.
What is CAMA?

World Partners in Asset Management (WPiAM)ย is a worldwide partnership, established in late 2014, of national non-profit professional associations working together to enable individuals and organizations to develop, assess and recognize competence in Asset Management, for the benefit of their members and of the asset management community globally.
Understanding the Relationship: Asset Management to Asset Performance Management

ISO55000 defines asset management as systematic and coordinated activities and practices through which an organization optimally and sustainably manages its assets and asset systems and their associated performance, risks, and expenditures over their life cycles for the purpose of achieving its organizational strategic plan.
50 Ideas for an Effective Maintenance Program

When a maintenance program is successful, every area of the company is positively affected. Today, top organizations are reaping the benefits from implementing well-designed and managed reliability programs. Are you ready to take your reliability program to the next level? Here are 50 ideas to get you started:
How CMMS Helps Drive Operational Excellence

Gone are the days when your team could solely rely on paper-basedย maintenance solutions. In todayโs fast-paced business environment, an effectiveย Computerized Maintenance Management Softwareย (CMMS), such as eMaintโs CMMS solution, is a vital tool to help ensure your success and drive operational excellence.
What Drives Asset Life Cycle Costs?

When questioned about their operations, too many executives believe that maintenance is the primary, if not sole, driver behind chronic reliability problems, high capital replacement costs and the excessively high life cycle costs of their physical plant.
New: ISO/TS 55010 just released!

Asset Management is a function not exclusive to any one part of the organization but should be seen as multi-functional and multidisciplinary. Aligned financial planning, accounting, decision making and reporting are crucial aspects of effective asset management. Conversely asset management has major impacts on financial planning, decision making and reporting. Successful achievement of organizational objectives requires close coordination and alignment between the asset management, finance and accounting functions.