TheISO55000revolution

Keychanges
Sinceitscreationin2004(andrevisionandreissuein2008),PAS55hasdefinedtherequirementsforbestpracticeinasset
management.Thenewstandard,ISO55000,willdifferfromPAS55instructureandcontentandhasbeendescribedasa
revolutionnotanevolution.
OneofthekeydifferencesbetweenthePAS55andtheISO55000approachisthescopeoftheassetmanagementsystem.While
PAS55primarilyfocusedonphysicalassets,ISO55000willalsofocusonorganisationalobjectivesandpurposeofassets.Thisis
inlinewithSKMsapproachtoperformingassessmentsunderPAS55,forwhichourassessmentsfocusedacrosstheentireasset
managementvaluechain.Althoughtheunderlyingphilosophyofthetwoapproachesmaybedifferent,theintenttoprovidea
measureofbestpracticeinassetmanagementremains.

Whodoesthisaffect?
Assetownersand
organisationsseekingto
establishacorrelation
betweenassetmanagement
andbusinessobjectives.

WhatdoIneedtodo?
Beawareofthechangesfrom
PAS55toISO55000,the
transitionperiodandhowthis
mayimpactyourbusiness.

Abouttheauthor
GaryJerome,MRICS,Practice
LeaderAssetManagement
StrategyandPlanning,Sinclair
KnightMerz(SKM)

HowthissitswithinthePAS55assetmanagementlifecycle

Garybringsmorethan20
yearsexperienceinasset
definition,andthecreation,
operation,sustainmentand
decommissioningofprojects
throughoutEuropeand
Australasiatohisleadership
roleofSKMsasset
managementpractice.Inhis
rolesasclient,consultantand
contractor,hehasdelivered
petrochemical,power
generation,nuclear
reprocessing,transport
infrastructure,waterandwaste
watertreatment,andsocial
infrastructureprojects.

TheISO55000ispresentedinthreepartsanoverview,requirements,andimplementationguidelines:

SinclairKnightMerz

ISO/DIS55000:AssetmanagementOverview,principlesandterminology
ISO/DIS55001:AssetmanagementRequirements
ISO/DIS55002:AssetmanagementGuidelinesontheapplicationofISO55001
ThestandarddocumentisstillunderdiscussionandisduetobeformallyratifiedbytheInternationalOrganizationfor
Standardization(ISO)in2013.

Anyrepublishedarticlesmust
acknowledgebothSKMandthe
author.Requeststorepublish
achievemagazinearticlesshould
besentto:
information@globalskm.com

ISO55000willbeanumbrelladocumentthatwillalignwithacompanysbusinessobjectivesandassetmanagementpoliciesand
objectives.Morethanjustaplan,itwillcriticallyassessandmeasureperformance,andbeviewedasacredibleand
uncompromisingtooltoassessbusinessperformance.
CompliancetoISO55000willrequireawholeoflifeapproach,andconsiderallassets,includingcompaniesintangibleassets,
suchasreputation,brandandintellectualproperty.
TheIAMwillwithdrawPAS55whenISO55000ispublished.However,therewillbean18monthsunsetperiodtoenable
companiestotransitionfromPAS55toISO55000accreditation.
FororganisationsmovingfromPAS55toISO55000therewillneedtobefundamentalchangeinthewayassetsareactually
managedtodemonstratecompliancetothenewstandardratherthansimplyadjustingprocessesandpoliciesareinplace.The
reportingandvalidationrequirementswillchangehowever,theinformationrequiredshouldremainthesameforboth.
SKMhashelpedclientsimprovetheirassetmanagementpracticesformanyyearsandwillcontinuetohelpthemassesstheir
assetmanagementpracticesorobtainaccreditationtoPAS55andISO55000.
SKMsbroadexpertiseinassetmanagementwasrecentlyshowcasedataelectricutilitiesforuminBangkok,whichwasattended
byrepresentativesfrommajorutilitiesfromacrossAsia,includingThailand,Vietnam,LaosandthePhilippines.
SeniorExecutiveEngineerPowerNetworksandPAS55endorsedassessor,TerryKrieg,presentedcasestudiesontwomajor
assetmanagementauditsofsubstationsanddistributionassetsinAustraliasremoteNorthernTerritoryandametropolitan
locationinAdelaide,SouthAustralia.
Howcanwehelp?
SKMisanendorsedPAS55assessorandwillseekendorsementasanassessorunderISO55000tocontinuetohelpclients

Page1of2

achievethehigheststandardsininfrastructureassetmanagement.
BothPAS55andISO55000arerelevanttogas,electricityandwaterutilities,road,airandrailtransportsystems,publicfacilities,
process,manufacturingandnaturalresourceindustriesandareapplicabletobothregulatedandunregulatedbusiness,privately
orpubliclyowned.Thespecificationandthenewstandardareimportantguidelinesforanyorganisationseekingtodemonstratea
highlevelofprofessionalisminwholeoflifecyclemanagementoftheirphysicalassets.
SKMretainsanumberofendorsedandtrainedauditorsthroughoutthefirm(Adelaide,Auckland,Brisbane,Darwin,KualaLumpur
andNewcastleUponTyne)whocanprovidegapanalysesandcertificationofanorganisationsassetmanagementsystemstoPAS
55and,shortly,toISO55000.EndorsedassessorssuchasSKMhavedevelopedspecialisedtoolstohelpevaluateclient
processesandsystems.
AswellasbeingamemberoftheAssetManagementCouncil(Australia),SKMemploysseveralassetmanagementspecialistswith
executiveexperienceinpowergeneration,powernetworks,water,socialinfrastructureandtransport(rail),andsimilarindustries.

Page2of2