ISO 55000 and the industrial world of today

So why is the ISO 55000 standard important to you and why should you be learning more about it in today’s industrial world?  It has tremendous value to you! The areas of value to industrial companies are plentiful, but the three that I think are most important are listed below.

1. Strong organization around Asset Management: One of the focus areas of the standard is how to organize the people, their roles, responsibilities and training to align to your Asset Management goals. It gives very good guidance how to achieve this and to get support for good Asset management from board-level to the cleaner in your facility. This is something that I have seen missing in many companies.

2. A well-defined, enterprise strategy for your organization: The standard helps to set the principles by which the organization intends to apply asset management to achieve its organizational objectives. Many companies struggle to get a good definition on the importance of good Asset management and get that aligned with the mission and values. It also helps to understand and manage the value and risk to internal and external stakeholders.

3. Integration with analytics gets you even further: While outside the standard scope of ISO 55000, with the technologies now available around analytics, digital twins, etc., there are countless possibilities to build on an Asset Management Strategy. Integration with your data brings Operational Excellence as well, and this can be integrated in the same structure.

Start by reading and discussing the ISO 55000 standard.  The ISO 55000 standard it clearly explains how to assess companies that are interested in the standard. There are also trained assessors who are able to assess your company.  Because it is standardized, a result of an assessment will give a detailed output where you struggle and where most benefits can be expected. This is something GE Digital can help with to get you started on the journey.