IIMM International Infrastructure

SUPPLEMENT
Management Manual 2015

Meeting ISO 55001

Requirements for
Asset Management
Using the International
Infrastructure Management
Manual (IIMM)

ISO 55001:
What is required

IIMM:
How to get there

International Edition 2015

Purchase a copy of the International Infrastructure
Management Manual (IIMM) 2015

The International
Infrastructure Management
Manual (IIMM), now in its fifth
edition, is widely accepted
as the international leading
document on infrastructure
asset management.
The IIMM provides valuable
guidance to organizations
on how to implement good
asset management practice
for infrastructure assets and
includes over 120 case studies
demonstrating good practice
across a wide range of assets
and countries.
The asset management
practices outlined in the IIMM
will help organisations:
improve cost-efficiency
and reduce costs, for
example by using decision
techniques that identify
the lowest lifecycle cost,
maintenance and renewal
decisions;
improve customer
satisfaction by better
matching levels of service
with what customers want
and willing to pay for;
have more transparency in
decision-making, allowing
stronger governance and
accountability; and
be more sustainable, by
having long term plans
that provide equitably
funded services across
generations.

Available from: www.ipwea.org/bookshop

www.nams.org.nz
 CONTENTS

CONTENTS

Introduction ISO PART 8: OPERATION

ISO Asset Management Standards ........................................ 4
International Infrastructure
Management Manual.................................................................... 5
Scope and Purpose of this Supplement.................................7
Format of this Supplement.........................................................7
ISO PART 4: CONTEXT OF THE
ORGANISATION
ISO 4.1: Understanding the Organization and
Its Context...................................................................... 8
ISO 4.2: Understanding the Needs and
Expectations of Stakeholders................................. 8
ISO 4.3: Determining the Scope of the Asset
Management System................................................. 9
ISO 4.4: Asset Management System..................................... 9
ISO 8.1: Operational Planning and Control......................... 17
ISO 8.2: Management of change........................................... 17
ISO 8.3: Outsourcing...................................................................18
ISO PART 9: PERFORMANCE EVALUATION
ISO 9.1: Monitoring, Measurement, Analysis
and Evaluation..............................................................19
ISO 9.2: Internal Audit...............................................................20
ISO 9.3: Management Review................................................20
ISO PART 10: IMPROVEMENT
ISO 10.1: Nonconformity and Corrective Action................ 21
ISO 10.2: Preventive Action........................................................ 21
ISO 10.3: Continual Improvement.......................................... 22

ISO PART 5: LEADERSHIP APPENDIX A

ISO 5.1: Leadership and Commitment................................10 Summary of IIMM Clause Numbers
Relevant To ISO............................................................................. 23
ISO 5.2: Policy...............................................................................10
ISO 5.3: Organizational Roles, Responsibilities
APPENDIX B
and Authorities............................................................10
Comparison of Key Definitions
ISO PART 6: PLANNING Between ISO 55000 and the IIMM........................................26

ISO 6.1: Actions to Address Risks and Opportunities

APPENDIX C
for the Asset Management System...................... 11
ISO 6.2: Asset Management Objectives Bibliography....................................................................................29
and Planning to Achieve Them............................... 11

ISO PART 7: SUPPORT

ISO 7.1: Resources...................................................................... 13
ISO 7.2: Competence................................................................. 13
ISO 7.3: Awareness.....................................................................14
ISO 7.4: Communication...........................................................14
ISO 7.5: Information requirements........................................15
ISO 7.6: Documented Information........................................16

Copyright
IPWEA 2015. This work is copyright of the Institute of Public Works Engineering Australasia (IPWEA) and no part
may be reproduced by any person without prior written permission from the IPWEA. Requests and enquiries concerning
reproduction and rights should be addressed to IPWEA at admin@ipwea.org

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 3

INTRODUCTION

ISO ASSET MANAGEMENT ISO 55001 is the most critical Standard in that it details
the things required to be done - some 70 requirements
STANDARDS with a number of sub elements. It provides a systematic
management specification while allowing organisations
to structure their activities to suit their needs, resources,
capabilities and objectives. The structure of the Standard is
Introduction formatted under the main headings, as follows:

The three ISO Asset Management (AM) Standards have Context of the Organisation
the potential to impact all organizations who have AM Needs/Expectations of Stakeholders
responsibilities. These Standards, whilst framed on the
management of physical assets, can be utilised for any Scope of the AM system and to which assets it will
asset type and by any size organization. They address the apply.
requirements for a management system (not software) for
the management of assets and comprise: Leadership and Commitment
Policy, Roles, responsibilities and authorities
ISO 55000 Asset management Overview, principles
and terminology
Planning
ISO 55001 Asset management Management systems Risks and Opportunities
- Requirements
AM Objectives and planning to achieve them
ISO 55002 Asset management Management systems
- Guidelines for the application of ISO 55001. Support
The ISO AM Standards are the first to be written in Resources, awareness, competence
accordance with the new standard format established by Communication
the ISO for the consistent structure and content of all their Information
Management System type standards.
ISO 55000 gives those responsible for organizational Operation and Control
governance and management an appreciation of why Change management
the organization should embrace AM. It highlights that Outsourcing
effective acquisition, control and governance of assets
by organizations is essential to realising value through Performance Evaluation
managing risk and opportunity to achieve the desired
balance of benefits, costs, risk and performance. Monitoring and Review
Auditing
It enunciates the benefits of AM and an AM system in
providing a structured approach and more reliable decision Improvement
making for the development, coordination and control of
activities undertaken on assets, and for aligning these Nonconformity
activities with its organizational objectives. The following Corrective and Preventive Action
Figure from ISO 55000 shows the typical relationship Continual improvement
between AM and the AM system.
The body of this Supplement follows the ISO 55001
structure.

Managing the
Organisation

Coordinated activity of an organisation to

Asset Management realize value from assets.

Asset Set of interrelated or interacting

Management System elements to establish asset management
policy, asset management objectives and
processes to achieve those objectives

Asset
Portfolio Assets that are within the scope of the asset
management system.

Figure 1 Asset Management and the Asset Management System (Ref ISO 55000:2014)

4 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements


ISO 55002 explains the requirements specified in ISO
55001 and provides examples to support implementation.
It does not provide guidance for managing specific asset
types.
Who should use the Standards
These International AM Standards are primarily intended for
use by those:
considering how to improve the realisation of value for
their organisation from their asset base;
involved in the establishment, implementation,
maintenance and improvement of an AM system;
involved in delivering AM activities including service
providers;
internal and external parties or stakeholders who
assess the organisations ability to meet legal,
regulatory and contractual; requirements and the
organizations own requirements.
Why use the Standards
Organizations will implement these Standards to address a
range of business objectives including the following (in no
particular order):
improved financial performance;
better informed asset investment decisions;
better managed risk;
improved services and outputs;
demonstrated social responsibility;
demonstrated compliance;
enhanced reputation;
improved organisational sustainability; and
improved efficiency and effectiveness.
ISO state that the main aim of Standards is to promote
good practice rather than primarily being about compliance.
The Standards themselves do not carry any force to
require their application and in most cases it will be up to
the organisation to choose to apply them as part of good
business practice.
However, in some highly regulated areas involving
significant asset values, the regulators, financiers or
insurers may require these Standards to be applied, in
order to provide evidence the assets are being effectively
managed.
Who can assess conformance
Guidance on the skills and competencies required of those
involved in ISO 55001 audit and certification is provided
in ISO/IEC DTS 17021-5 Conformity assessment
Requirements for bodies providing audit and certification of
management systems Part 5: Competence requirements
for auditing and certification of AM systems.
Supplement to the IIMM 2015: Meeting ISO 55001 Requirements
INTRODUCTION
Tools to Assess Alignment
IPWEA has developed a web based assessment tool
that allows an organisation to test how well its current AM
practices align with the requirements of ISO 55001. This
does not purport to be a process for certifying compliance
but is useful to allow an indepth assessment against all the
requirements. This can be done as a self-assessment or
with the assistance of an external party to provide greater
transparency and accountability. For more information go to
www.ipwea.org/namsplus
Where to access the Standards
They are currently adopted as ISO Standards and available
for purchase from SAI Global (http://infostore.saiglobal.com/
store/Portal.aspx?publisher=ISO ) or from your Country
Standards Association.
How to apply the Standards
IPWEA and the New Zealand NAMS Group will be providing
training and offering assistance to organizations considering
the implications, application and implementation of these
new Standards in their organisation. This includes a series
of IPWEA webinars.
INTERNATIONAL
INFRASTRUCTURE
MANAGEMENT MANUAL
The International Infrastructure Management Manual 2015
(IIMM), now in its fifth edition, has evolved over many
years and is widely accepted as the international leading
document on infrastructure AM. The IIMM provides valuable
guidance to organizations on how to implement good AM
practice for infrastructure assets and includes over 120
case studies demonstrating good practice across a wide
range of assets and countries.
Figure 2 introduces the AM process that leads readers
through the IIMM. The first part of the AM process is about
understanding and defining what services the infrastructure
assets should deliver. This is covered in Section 2, which
will help infrastructure managers answer questions such as:
What are my required levels of service and
performance delivery?
How will demand for these change over time?
What is the current state of my assets?
Are they capable of meeting these demands now and
in the future?
How resilient is the organisation to manage the
unexpected?
5
INTRODUCTION

The second part of the AM process, covered in Section 3 of Section 4 provides guidance on the AM enablers that
the IIMM, is deciding the most effective lifecycle strategies support effective infrastructure planning and decision
to deliver the defined requirements. This Section will help to processes described above. This includes the structures,
answer the questions: capabilities, plans, systems, tools and external resources
How do we best manage the risks associated with the organisation needs for effective AM. It also details
delivering the services required? an approach for ensuring AM practices are subject to
continuous improvement.
What are my best strategies for operating, maintaining,
replacing and improving the assets?
How much will providing the service cost over the long-
term?
What is my best long-term funding strategy?

Section 2 Section 3 Section 4

Understand Lifecycle AM
Requirements Planning Enablers

4.1 Asset Management

2.1 Setting the
Leadership and
Strategic Direction
Teams
Lifecycle Decision Methods

4.2 Asset Management

2.2 Establishing Levels Plans
3.2 Managing Risk
Financial Planning
of Service

4.3 Management
Systems
2.3 Forecasting Future 3.3 Operational
Demand Planning 4.4  Asset Management
Information
Systems and Tools
2.4 Collecting Asset
3.4 Capital Investment
3.5

Information (Asset
Planning 4.5 Service Delivery
Knowledge)
Models
3.1

2.5 Monitoring Asset

4.6 Audit and
Performance and
Improvement
Condition

Figure2: The Asset Management Process (sourced from IIMM 2015, p1/10

6 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 INTRODUCTION

SCOPE AND PURPOSE OF THIS FORMAT OF THIS SUPPLEMENT

SUPPLEMENT
As discussed above, ISO 55001 spells out the requirements
for the establishment, implementation, maintenance and
improvement of a management system for AM. It specifies
what an organisation needs to do to fulfil the Standards
requirements. However ISO 55001 does not provide
specific direction on how an organisation should go
about achieving those requirements, nor does it contain
asset-specific guidance. The IIMM complements the ISO
Standard by providing more detailed how to guidance.
This Supplement aims to assist organizations in meeting
ISO 55001 requirements by cross referencing and
explaining how relevant sections in the IIMM relate to each
of the requirements in ISO 55001. This gives users ready
access to relevant parts of the IIMM and provides a how to
for applying ISO 55001 in infrastructure AM using the IIMM.
Associated documents
In applying this Supplement, users will obviously need a
copy of the IIMM. As well as referring to ISO 55001, users
are also recommended to refer to ISO 55000 and ISO
55002. Other relevant IPWEA and New Zealand NAMS
Group Guidelines are referenced where applicable.
This Supplement works sequentially through each of the
requirements clauses in ISO 55001 with a listing of those
sections in the IIMM that relate to those requirements and
a brief commentary on the relevant material available in the
IIMM sections.
Appendix A includes a matrix summarizing the cross-
referencing between IIMM sections and ISO 55001 clauses.
Appendix B compares key terminology between the ISO
Standards and the IIMM.
Where the document relates to the requirements in ISO
55001 they are shown in BLUE TEXT.
Sections and commentary from the IIMM are shown
in normal text but with relevant section headings
HIGHLIGHTED IN RED.
The matrix in Appendix A highlights that the IIMM and ISO
55001 have a lot of common content but are structured
quite differently. ISO 55001 follows the standard ISO
structure for management systems standards and works
from the more strategic to operational requirements. The
IIMM is a how to guide and is intended to take the user
through the logical steps of defining AM requirements
(section 2) and then developing AM strategies to meet these
requirements across the asset lifecycle (section 3), all of
which is supported by AM enablers (section 4).

Users will need to have a full copy of the ISO Asset

Management Standards to make use of this Supplement.
The requirements clauses in ISO 55001 are summarized
in this Supplement but the full ISO 55001 Standard
is required to see the complete text that is being
referenced1.

1 Extracts from ISO 55001 - Reproduced with permission from

SAI Global Ltd under Licence 1312-c022

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 7

ISO PART 4: CONTEXT OF THE ORGANISATION

ISO PART 4: CONTEXT OF THE ORGANISATION

ISO 4.1: Understanding the Organization and Its Context

This ISO section addresses the need to explore all issues (internal and external) potentially impacting on the
organizational objectives and how to translate these into AM objectives, via a Strategic Asset Management Plan
(SAMP).

IIMM 2.1.4 Analysing the External Context contains guidance on how external
Analyse internal and issues may impact the AM system with subsections on the legislative and
external issues regulatory environment, commercial environment, economic environment, social
environment and natural environment including climate change.
IIMM 2.1.5 Analysing the Internal Context contains guidance on how internal
issues may impact the AM system and includes subsections on corporate
direction, business frameworks, corporate culture and financial sustainability.
IIMM 2.3 Forecasting Future Demand looks at how demand for services and
assets may change as a result of external drivers.

IIMM 2.1.3 Establishing Asset Management Objectives covers the

Align organisation and establishment of AM objectives aligned to organisational objectives. It provides
AM objectives an example of principles and objectives for an AM system. (Refer also
references in relation to ISO Cl 6.2.1)
IIMM 4.2.3 The Strategic Asset Management Plan provides guidance on how
to document in the SAMP how organisational objectives are to be converted into
asset management objectives.

ISO 4.2: Understanding the Needs and Expectations of Stakeholders

This ISO section deals with identifying stakeholders relevant to the AM system and their needs and expectations,
including in relation to reporting requirements.

IIMM 2.1.6 Understanding Customer Expectations outlines a process for

Identify stakeholders
and their expectations
identifying customer groups and what they value (customer is treated in the
IIMM in the wider sense to include all potential stakeholders).
IIMM 2.2.5 Communicating with Customers details processes for engaging
with customers to identify their requirements and priorities.
IIMM 2.3 Forecasting Future Demand looks at how demand for services and
assets may change as a result of customer /stakeholder needs.
IIMM 4.2.2 Preparing and Communicating AM Plans looks specifically at the
involvement of stakeholders during AM Plan development.

The NAMS Publication Developing Levels of Service and Performance

Management Guidelines and IPWEA Practice Note 8 on Levels of Service
outline methods for organizations to establish their levels of service and
assess what their customers value.
See more at: www.ipwea.org/bookshop or at www.nams.org.nz

IIMM 2.1.6 Understanding Customer Expectations deals specifically with

Identify stakeholders customer information and reporting requirements.
information and IIMM 2.4.1 Identifying Information Requirements covers identifying
reporting requirements requirements for both financial and non-financial data with considerations of
what is required for AM reporting.

8 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 ISO PART 4: CONTEXT OF THE ORGANISATION

IIMM 3.1 Decision Making Techniques addresses the Standards requirements

Develop AM decision on determining criteria for AM decision making.
criteria IIMM 3.1.1 The Decision Process addresses the selection of decision criteria
and documentation of the selected method.

For further information on lifecycle decision making criteria, readers are

referred to the Optimised Decision Making Guidelines.
Go to www.ipwea.org/bookshop or at www.nams.org.nz

ISO 4.3: Determining the Scope of the Asset Management System

This ISO section deals with determining the boundaries and applicability of the AM system and possible interaction
with other management systems.

IIMM 2.1.1 Defining the Scope of the Asset Management System details a
Define the scope, process for defining the scope of the AM System including the asset portfolio,
boundaries and plans, functions and processes within the AM System, level of advancement
interactions across 5 levels of maturity and internal and external linkages.
IIMM 4.3.5 Integrating Management Systems provides advice on aligning and
interacting the organisations various management systems.
IIMM 4.3.3 Documenting Asset Management Processes illustrates how
process maps can be used to define interactions and boundaries of AM
processes across teams.

IIMM 2.1.1 Defining the Scope of the Asset Management System provides
Define the asset guidance and a case study on defining the scope of the AM System
portfolio
IIMM 4.2.4 The Portfolio Asset Management Plan provides examples of AM
plan structure and documented information on the asset portfolio.

ISO 4.4: Asset Management System

This ISO section deals with the processes for establishing and operating an AM System.

IIMM 4.1 Asset Management Leadership and Teams sets out an

Establish and operate organizational structure for establishing an AM system which ensures effective
an AM system coordination across functional teams.
IIMM 4.3 Management Systems provides general advice about establishing
and maintaining management systems (the AM System is simply a management
system for asset management). Section 4.3.5 highlights the importance of
integrating management systems across the organisation.
IIMM 4.6 Audit and Improvement describes a method for assessing current
and appropriate AM practice, prioritizing improvements and developing an
improvement plan which guides the establishment of an AM system at an
appropriate level of practice. The section provides case studies on a number
of frameworks to assess AM practices but, for an organization implementing
ISO 55001, assessment against that standard is a good way of identifying
improvement areas.

Document in the SAMP IIMM 4.2.3: The Strategic Asset Management Plan provides a structure for
how the system will a SAMP, a key focus of which includes describing how AM objectives will be
achieve AM objectives achieved.

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 9

ISO PART 5: LEADERSHIP

ISO PART 5: LEADERSHIP

ISO 5.1: Leadership and Commitment

This ISO section requires top management to demonstrate leadership and commitment with respect to the
AM system. There are a number of criteria specified that need to be met to demonstrate this leadership and
commitment, including; resourcing the AM system, communicating the importance of AM, cross-functional
collaboration, continual improvement and risk management.

IIMM 4.1.1 The Asset Management Leader details all the requirements of
Demonstrate the AM Leader and top management in establishing and maintaining the
leadership and AM System and fostering continuous improvement. This section provides a
commitment summary of all the ISO 55001 clauses relating to leadership in Table 4.1.2,
including references to other IIMM sections that provide more guidance to the
AM leader as to the functions they are responsible for.
IIMM 4.6.8 Organisational Commitment and Change Management outlines
strategies for achieving organizational commitment, including the leadership role
and a communication strategy to help disseminate the necessary message of
commitment and to aid implementation.

ISO 5.2: Policy

This ISO section deals with the requirements for top management to establish an AM policy. There are a number
of criteria specified that need to be met when formulating such Policy. These include ensuring appropriateness,
commitment, consistency, communication, availability and review.

IIMM 2.1.1 Developing the Scope of the Asset Management System

Develop and specifies how the Policy fits within the overall AM System.
communicate an AM IIMM 2.1.2 Developing the Asset Management Policy outlines the hallmarks
Policy of a good policy document and sets out the typical steps to follow when
developing such a Policy. These steps include communicating the policy and
periodical reviews.

ISO 5.3: Organizational Roles, Responsibilities and Authorities

This ISO section deals with the obligation for top management to ensure that the responsibilities and authorities for
relevant roles are assigned and communicated within the organization. There are a number of criteria that have to
be met by top management to demonstrate this.

IIMM 4.1.1 The Asset Management Leader details the AM leaders role in
Assign and allocating and communicating roles and responsibilities.
communicate
IIMM 4.1.2 Organisational Structures to Deliver Asset Management includes
responsibilities and discussion on how responsibilities might be structured and the options of a
authorities for AM centralized or de-centralized AM planning function.
IIMM 4.1.3 Integrating and Coordinating Asset Management deals with the
coordinating and communication of roles and responsibilities.
IIMM 4.3.3 Documenting Asset Management Processes provides guidance
on documenting roles at a detailed process level using tools such as dataflow
charts.
IIMM 4.5.4 Procuring and Management of Outsourced Activities identifies
aspects to consider when contracting out AM responsibilities.

10 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 ISO PART 6: PLANNING

ISO PART 6: PLANNING

ISO 6.1: Actions to Address Risks and Opportunities for the Asset
Management System

This ISO section deals with addressing the risks and opportunities that need to be considered when planning for
the AM system to achieve its intended objectives and outcomes, and how they might change with time.

Identify and evaluate IIMM 3.2 Managing Risk provides guidance on establishing the risk context
risks that could prevent (Section 3.2.2), identifying risks and critical assets (Section 3.2.3 and 3.2.4) and
achievement of evaluating risks (Section 3.2.5).
AM objectives

Plan actions to address
risks and monitor the
effectiveness of these
actions
IIMM 3.1.7 Risk Based Decisions: deals with how to use risk reduction as a
component of decision making.
IIMM 3.2 Managing Risk outlines various risk treatment options and
development of a risk action plan to prevent or reduce undesired effects
(Section 3.2.6) and covers risk implementation issues (Section 3.2.7) as well as
communication with stakeholders on awareness, understanding and relevance
of the approach. It promotes a continuous improvement approach with
monitoring and review.

ISO 6.2: Asset Management Objectives and Planning to Achieve Them

ISO 6.2.1: Asset Management Objectives

This ISO section deals with establishing AM objectives as part of the AM planning process and as part of the
Strategic AM Plan. This involves consideration of the requirements of relevant stakeholders, as well as other
financial, technical, legal, regulatory and organizational requirements.

IMM 2.1.3 Establishing Asset Management Objectives covers the

Establish AM objectives
establishment of AM objectives aligned to organisational objectives. (References
in relation to ISO Cl 4.1 are also relevant to the to the consideration of
stakeholder and other requirements in determining AM objectives).
IIMM Section 2.2 Establishing Levels of Service: In IIMM terms, levels of
service are largely how AM objectives are expressed at a tactical level and
therefore much of this section is relevant to ISO 6.2.1.

IIMM 3.1 Decision Making Techniques addresses the establishment of the AM

Ensure objectives are objectives using the criteria for AM decision making.
established using AM
IIMM 4.2.3: The Strategic Asset Management Plan requires AM objectives
decision criteria and
and decision criteria to be documented in the AM Plan.
documented

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 11

ISO PART 6: PLANNING

ISO 6.2.2: Planning to achieve AM objectives

This ISO section deals with establishing and maintaining AM plan(s) that are aligned with the AM policy and the
strategic AM plan (SAMP) to achieve the AM objectives. The AM planning must integrate with other organizational
planning activities and consider requirements coming from outside the AM system.
A number of criteria are specified relating to managing assets over their life cycles, decision making and prioritizing
of activities and resources, risk management and contingency planning, financial and non-financial implications,
timeline, evaluation and review, what will be done, when and by whom.

Establish and maintain IIMM 4.2 Asset Management Plans provide a methodology for developing,
an AM plan reviewing and communicating AM Plans, both the portfolio AM Plans and the
Strategic AM Plan. Template examples are provided for both.

IIMM Section 3.1 Decision Making Techniques looks at development of

Determine and decision making processes (benefit/cost analysis, multi-criteria analysis, risk
document decision based decision making) that can be used in prioritizing activities, resources
making criteria etc, detailed in the AM plans. It also covers how to take into account priorities
between differing asset classes (services) and other decision considerations
including how best to involve decision makers, sensitivity testing, dealing with
poor quality data and testing financial viability.
As well as Section 3.1 listed above, much of the rest of IIMM Section 3 is
Determine and dedicated to lifecycle AM decision making (giving consideration to the trade-offs
document asset that occur across the lifecycle), including:
lifecycle management IIMM 3.3: Operational Planning which includes processes relating to effective
methods and asset utilization, demand management and incident / emergency planning.
processes to achieve
IIMM 3.4: Capital Investment Planning which focuses on the capital works
AM objectives
(renewal, upgrade and new assets) required to achieve AM objectives.
IIMM 4.3.4 Document Management and Control deals with reviewing and
documenting AM Processes and information.

For further information on lifecycle decision making and consideration of

the evaluating the lowest lifecycle cost solutions, readers are referred to the
Optimised Decision Making Guidelines.
Go to www.ipwea.org/bookshop or at www.nams.org.nz

Determine and
The IIMM sections relating to risk management (IIMM Section 3.2) are relevant
document risks and and are detailed in relation to ISO 6.1.
opportunities relating
to assets

Consider asset-related
risks in contingency
planning
IIMM 3.3.5 Planning for Emergencies, Crises and Incidents covers issues
pertinent to infrastructure managers like natural hazards and disasters, civil
defence, emergency response and contingency planning and integrating these
into infrastructure AM.

The IIMM sections relating to resource requirements are relevant and are
Determine and
detailed in relation ISO 7.1
document resource
requirements and IIMM 3.5 Financial Planning can assist with assessing financial implications
financial and non- of the AM Plan, with specific guidance on lifecycle costing (Section 3.5.2),
valuation approaches (Section 3.5.3) and preparing long term financial forecasts
financial implications
(Section 3.5.5).

For further information on Infrastructure Financial Management, readers

are referred to the Australian Infrastructure Financial Management Manual
available through IPWEA. Go to www.ipwea.org/bookshop
For further information on lifecycle costs, valuation and depreciation, readers
are referred to the New Zealand Infrastructure Valuation and Depreciation
Guidelines, available at www.nams.org.nz

12 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 ISO PART 7: SUPPORT

ISO PART 7: SUPPORT

ISO 7.1: Resources

This ISO section deals with providing the necessary resources for the establishment, implementation, maintenance
and continual improvement of the AM system and for implementing the activities specified in the AM plan(s).

Provide resources to
establish and maintain
the AM system
Provide resources to
implement the AM plan
Consider and evaluate
internal and external
resourcing
IIMM 4.1 Asset Management Leaders and Teams includes the resourcing
required in terms of organizational roles and responsibilities at both the strategic
and operational levels.
IIMM 4.1.5 Developing Asset Management People covers the assessment
and provision of capability requirements for delivering AM.
IIMM 4.1.6 Developing Asset Management Capacity covers the assessment
of capacity requirements for delivering AM.
IIMM 4.6 Audit and Improvement describes a method for assessing current
and appropriate AM practice, identifying what is required to close the gap
scoping improvement actions (including assessment of resources to deliver
those actions), prioritizing improvements and developing an improvement plan
which outlines resources and timeframes for establishing and maintaining AM
system at an appropriate level of practice.
IIMM Section 3.5 Financial Planning deals with the financial resourcing
aspects that are so critical to the success of the implementation of the AM Plan
activities including assessment of financial implications across the whole asset
lifecycle and the long term financial planned resources required.
IIMM 3.5.6 Developing Funding Plans provides advice on how to deal with
financial constraints and assess and resolve resource and funding gaps.
IIMM 4.2.2 Preparing and Communicating the Asset Management Plans
includes guidance on the iterative process of preparing AM Plans, levels of
service and budgets and then considering resource constraints and implications
on budgets and levels of service.
IIMM 4.5 Service Delivery Models describes approaches to considering how to
deliver AM systems and plans, and more specifically, including:
the definition of core assets and services (Section 4.5.1) which should be
retained as core in-house activities and conversely, those which could be
carried out more effectively by external parties.
the development of resourcing options including internal delivery and
various external delivery approaches (Section 4.5.2).
methods for determining which is the most effective resourcing option and
the risks and benefits associated with each (Section 4.5.3).

ISO 7.2: Competence

This ISO section covers the necessary competence (based on education, training or experience) of person(s)
doing work that could affect the performance of assets, AM or AM System. It looks at acquiring the necessary
competence, evaluating action taken, reviewing current and future needs and documenting evidence of this.

Determine competency IIMM 4.1.5 Developing Asset Management People (Capability) identifies
requirements competence requirements for different AM roles and provides an example of an
AM competency framework.

Ensure competency It also provides guidance on how to build capability through effective use of
external specialists and targeted training and development for all staff to build
and take actions if
organization wide capability. It includes an example of an organisation-wide AM
required
training programme.

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 13

ISO PART 7: SUPPORT

ISO 7.3: Awareness

This ISO section deals with ensuring awareness by all who can impact the AM objectives. There are a number
of criteria specified which address specific awareness of issues like the AM policy, work activities including
associated risks and how these benefit effectiveness, and performance and implications of not meeting the AM
System requirements.

IIMM 2.1.2 Developing the Asset Management Policy includes involvement

Awareness of the AM and communication with staff and stakeholders on the methodology for
Policy developing a policy.
IIMM 4.1.4 Communicating Asset Management Across the Organisation
provides advice on information to be communicated, including the AM Policy and
peoples contribution to the AM System and how to maintain that awareness.

Awareness of IIMM 4.1.5 Developing Asset Management People (Capability) includes an

contribution to example of an organisation-wide AM training programme intended to ensure
all staff and contractors are aware of AM to an appropriate level of detail, the
the AM System
benefits that can ensue and how their work contributes to AM outcomes.

ISO 7.4: Communication

This ISO section deals with internal and external communications relevant to assets, AM and the AM system. It
includes the what, when, who and how of communication.

IIMM 2.1.6 Understanding Customer Expectations deals with what customers

Determine and and stakeholders value and what information they need.
implement IIMM 2.2.5 Communicating with Customers details processes for engaging
communication with customers to identify their requirements and priorities and development of a
requirements consultation plan.
IIMM 3.1.1 The Decision Process outlines how to involve stakeholders in the
decision process.
IIMM 4.1.4 Communicating Asset Management Across the Organisation
provides advice on information to be communicated internally, and includes the
development of a Communications Plan.

Develop a Consultation IIMM 4.2.2 Preparing and Communicating Asset Management Plans
Plan provides advice on appropriate communication and engagement during AM Plan
development.

14 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements


ISO 7.5: Information requirements
This ISO section deals with the information requirements across all elements of AM. There are a number of criteria
specified which address risks, AM roles, responsibilities, processes, activities and information exchange and
impacts on decision making.
Determine information
requirements including
attributes and quality
needed to support the
AM system
Implement processes
for maintaining data
Establish appropriate
data repositories
Determine how and
when to collect asset
data
Ensure alignment
of financial and
non-financial
terminology and data
Supplement to the IIMM 2015: Meeting ISO 55001 Requirements
ISO PART 7: SUPPORT
IIMM 2.4.1 Identifying Information Requirements covers both financial and
non-financial data and reporting on that information. It includes guidance on
what data is required for various AM functions, prioritizing data requirements
and determining the appropriate level of data detail. It outlines the purpose of
each data parameter such as for analysis, performance, costing, to aid decision
making, etc.
IIMM 2.4.5 Maintaining and Improving Data Confidence addresses issues
such as data confidence/accuracy, checking of data and ongoing data
maintenance.
IIMM 2.4.6 Progression of Data Requirements looks at how data needs and
formats are changing over time as the sharing of data across the organisation,
sectors and countries increases.
IIMM 2.5 Monitoring Asset Performance and Condition focusses specifically
on condition and performance data requirements for the monitoring of the Asset
Management System, asset management and the assets.
IIMM 4.4 Information Systems and Tools provides detailed guidance on
determining requirements for, evaluating, selecting and implementing an AM
Information System. It includes an approach which begins with identifying
information needs based on business and user requirements.
IIMM 2.4.4 Data Collection Processes details an approach for developing
a practical data collection strategy that addresses the level of detail, data
accuracy and completeness required.
IIMM 2.5 Monitoring Asset Performance and Condition cover data collection
methods specifically in relation to asset condition. Section 2.5.2 outlines how to
decide the best performance monitoring method, and 2.5.3 looks at determining
what and when to measure.
IIMM 3.5.1 Key Elements of Financial Management outlines the necessary
interfaces between asset and financial management and how data and
processes should align.
15
ISO PART 7: SUPPORT

ISO 7.6: Documented Information

ISO 7.6.1 General

This ISO section deals with documented information as part of the AM system which includes that required by
this International Standard, that applicable for legal and regulatory requirements and that deemed necessary from
Section 7.5.

IIMM 4.3.3 Documenting Asset Management Processes provides various

The AM System to approaches to documentation (flow charts, textual process descriptions, etc).
contain documented
IIMM 4.3.4 Document Management and Control outlines how to maintain
information as required information and includes a summary of all of the ISO 55001 requirements in
by this standard relation to documented information.
and other identified
requirements

ISO 7.6.2: Creating and Updating

This ISO section deals with creating and updating documented information.

As for Cl 7.6.1, plus:

Documented IIMM 2.4 Collecting Asset Information provides advice on appropriately
information shall be identifying, categorizing, collecting and reviewing asset data to an appropriate
appropriately identified, level of detail, data accuracy and completeness.
formatted, approved
IIMM 2.4.1 Identifying Information Requirements includes commentary on the
and reviewed
need for the Information Management System being able to record metadata
(eg. Data source, accuracy, confidence which would include identification of all
data stored).
IIMM 4.4.2 Identifying AMIS Requirements deals with format and media when
developing an Information Management System.

ISO 7.6.3: Control of documented information

This ISO section deals with the control of documented information required by the AM system and by this
International Standard, to ensure it is adequately protected and available for use. There are a number of criteria
specified which address amongst other things, access, retrieval, storage and preservation. Relevant external
documented information shall also be appropriately identified and controlled.

Provide appropriate IIMM 4.3.4 Document Management and Control outlines how to maintain and
control, access protect documented information.
and protection This section is also relevant to the many other parts of ISO 55001 that require
for documented documenting of information as part of the requirement.
information

16 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 ISO PART 8: OPERATION

ISO PART 8: OPERATION

ISO 8.1: Operational Planning and Control

This ISO section deals with the processes needed to implement the planning actions determined earlier and
corrective and preventive actions determined in 10.1 and 10.2. There are a number of criteria specified which
address the required processes and keeping documented information.

IIMM 3.3 Operational Planning provides guidance on operational planning

Establish criteria for
the development of
operational processes
Establish and
implement operational
planning processes.
including the objectives and intervention criteria that drive operational
processes. The sub sections of 3.3 include:
Operational Objectives and Intervention Levels;
Developing Maintenance Plans and Procedures;
Operational Process Plans, Planning for Emergencies;
Crises and Incidents;
Operational Structures and Support; and
Operational Improvement.

Manage risks
associated with In relation to operational risk management, the IIMM sections referenced under
ISO 6.1 are also relevant here.
operational processes.

ISO 8.2: Management of change

This ISO section deals with prior assessment and management of any risks associated with any planned change
that could impact on achieving the AM objectives.

IIMM 3.2 Risk Management covers the framework and methodology within
Manage risks which change management risks should be assessed.
associated with In relation to risk management, the IIMM sections referenced under ISO 6.1 are
changes relevant here.
IIMM sections referenced under ISO 4.1 provide guidance on analysing the
internal, external and customer environments to identify how changes in these
may impact the AM System.
IIMM 4.6.8 Organisational Commitment and Change Management includes
change management principles which, when followed, are intended to reduce
risks associate with change and support effective change management.

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 17

ISO PART 8: OPERATION

ISO 8.3: Outsourcing

This ISO section deals with assessing risk and controlling any outsourced processes or activities that can impact
on the achievement of AM objectives to ensure they integrate into the organizations AM system. There are a
number of criteria specified which address scoping the outsourced processes/activities and their interfaces with
the organizations own processes/ activities.

Assess risks associated
with outsourcing
IIMM 3.2 Risk Management covers the framework and methodology within
which outsourcing risks should be assessed.
IIMM 4.5.3 Evaluating and Selecting Options for Service Delivery includes
discussion on risk sharing in terms of establishing the form of contract to enter
into.

Determine the scope of
outsourced activities,
responsibilities for
managing outsourced
processes
IIMM 4.5.2 Defining Core Services and Assets considers which functions
should be retained as core in-house activities and which could be carried out
more effectively by external parties. It also covers typical divisions between
asset owner, manager and service delivery roles.
IIMM 4.5.3 Evaluating Options for Service Delivery outlines a range of
service delivery options from internal delivery through to Public- Private
Partnerships.

IIMM 4.5.4 Procurement and Management of Outsourced Activities

Determine processes
for knowledge and
information sharing
deals with aspects that should remain under the organizations control
when contracting out, scoping and packaging of contracts, pre-selection of
tenderers and tender evaluation methods. It also covers contract performance
specification and monitoring.
IIMM 4.4.3 Identifying System Integration Requirements includes looking at
various business drivers associated with selecting an AM information system,
including the need for links with external service providers.

Some of the sections of the IIMM that relate to Clauses 7.2, 7.3, 7.6 and 9.1 of
Ensure outsourced ISO 55001 can be applied similarly to outsourced resources. In addition:
resources meet
IIMM 4.5.4 Procurement and Management of Outsourced Activities deals
requirements of more specifically with this aspect.
relevant ISOs

18 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 ISO PART 9: PERFORMANCE EVALUATION

ISO PART 9: PERFORMANCE EVALUATION

ISO 9.1: Monitoring, Measurement, Analysis and Evaluation

This ISO section deals with what and when to monitor, and measure and report on performance (including financial
and non-financial performance) and the effectiveness of the AM system. There are a number of criteria specified
which address effectiveness of the monitoring processes.

IIMM 2.2.3 Developing Effective Performance Measures provides guidance

Determine and on developing SMART performance measures and setting performance targets
implement asset with examples of performance measures for various types of services.
performance IIMM 2.5 Monitoring Asset Performance and Condition deals with reviewing
monitoring the effectiveness of the assets and AM performance by way of developing an
requirements, methods, asset performance monitoring programme, rating system and reporting on that
frequency and analysis to both internal and external stakeholders.
and reporting IIMM 3.3.7 Operational Improvement outlines processes for monitoring
and analysing asset operational performance and identifying appropriate
intervention.
IIMM 4.6.1 Taking a Continuous Improvement Approach looks at the use of
suitable assessment frameworks to measure AM system performance and how
the results can be analyzed and presented.

IIMM 3.5.1 Introduction to Financial Planning provides guidance on reporting

Determine and
implement monitoring
and reporting on the
effectiveness of the AM
system.
on the financial performance and effectiveness of the AM system. It includes
key principles of financial management for infrastructure assets covering issues
relating to reporting financial performance.
IIMM Section 4.6.3 Evaluating Asset Management System Performance
discusses the use of AM frameworks that can be used to assess the
performance of the AM System.
IIMM 4.6.7 Monitoring the Effectiveness of the Actions Taken looks at
how to define and measure outcomes that demonstrate AM improvements are
contributing to a more effective AM System.

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 19

ISO PART 9: PERFORMANCE EVALUATION

ISO 9.2: Internal Audit

These ISO sections 9.2.1 and 9.2.2 deal with conducting internal audits to test conformance, implementation and
maintenance of the AM system. There are a number of criteria specified which address a range of issues to be
considered when establishing an audit programme(s).

IIMM 2.4.5 Maintaining and Improving Data Confidence deals with auditing
Plan, establish and asset data.
maintain an audit IIMM 2.5.1 Developing a Performance Monitoring Programme deals also
programme with AM System performance as well as AM and asset performance.
IIMM 4.6 Audit and Improvement includes content on audit plans, internal and
external audits and self-assessments. It also includes a section on Standards
Certification.

IIMM 4.5.4 Procuring and Management of Outsourced Activities covers the

Conduct internal need for strong audit processes when contracting out AM delivery.
audits to determine
IIMM 4.3 Management Systems provides general advice on maintaining the
the effectiveness of effectiveness and continual improvement of management systems and includes
the AM System and information on document control.
compliance against this
standard Readers are also referred to the Australian Infrastructure Financial
Management Manual available through IPWEA. These have a Chapter on
Auditing of Infrastructure Assets and whilst the focus is on financial audits, it
does include relevant information on corporate governance issues and the
role of asset managers. Go to www.ipwea.org/bookshop/aifmm/

ISO 9.3: Management Review

This ISO section deals with top management reviewing the organizations AM system to ensure its continuing
effectiveness. There are a number of criteria specified which address actions expected to be carried out as part of
such management reviews.

Carry out regular top
management reviews
of the effectiveness of
the AM System
IIMM 4.1.1 The Asset Management Leader deals with the requirements of top
management in carrying out AM System reviews.
IIMM 4.6 Continuous Improvement provides a range of approaches that
top management can use to assess the effectiveness of the AM System by
carrying out a gap analysis of current and desired effectiveness and identifying
corrective actions.

20 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 ISO PART 10: IMPROVEMENT

ISO PART 10: IMPROVEMENT

ISO 10.1: Nonconformity and Corrective Action

This ISO section deals with the organization reacting to any nonconformity or incident and taking action to control
and correct it.
There are a number of criteria specified which address future occurrences, implementing resultant action, and
reviewing effectiveness of such action.

IIMM 4.6.4 Identifying Improvement Actions covers potential actions to take in

React, control respect of non-conformities in the AM System (the term gap is used in the IIMM
and manage in terms of understanding where current AM practices have not reached desired
non-conformities in AM appropriate AM practices).
and the AM system IIMM 4.6.5 Prioritising Actions and Developing the Improvement Plan
provides guidance on evaluating the need to take action to address these
non-conformities, or gaps and prioritizing actions.
IIMM Section 4.6.6 Delivering the Improvement Plan covers the
implementation of the action plan.

React, control IIMM 3.3 Operational Planning covers incident and emergency management
and manage processes as well as processes for responding to unplanned (reactive)
non-conformities maintenance requirements and techniques such as root cause analysis.
in the assets

ISO 10.2: Preventive Action

This ISO section deals with the processes to proactively identify possible preventive action.

Proactively identify
potential asset failures
IIMM 2.5.5 Predicting Future Condition and Performance deals with the
ability to predict when the asset may fail due to condition deterioration or
performance failure.
IIMM 3.3.2 Operational Objectives and Intervention Levels looks at
the determination of maintenance intervention levels which define asset
performance failure that requires the need to take action.

IIMM 3.1 Decision Making Techniques provides guidance on decision making

Evaluate the need for techniques that can be used to evaluate when preventive actions are a better
preventive action solution considering costs, benefits and risks.
IIMM 3.3.3 Developing Maintenance Plans and Procedures outlines
the differences between planned and unplanned maintenance, the need to
understand failure modes and the use of risk based maintenance approaches
to identify when preventive action is a better solution than dealing with asset
failure.
IIMM 3.4.5 Predictive Modelling Techniques provides techniques for
modelling the future performance of assets and the optimal renewal time.
The IIMM Sections relevant to ISO 10.1 are also relevant here.

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 21

ISO PART 10: IMPROVEMENT

ISO 10.3: Continual Improvement

This ISO section deals with continually improving the organizations AM and AM system.

The concept of continual improvement filters through many IIMM sections,

Continually improve however the most relevant sections are:
AM processes and IIMM 2.4.5 Maintaining and Improvement Data Confidence covers continual
the AM system improvement of asset data.
IIMM 2.5.6 Performance Evaluation and Reporting dealing with the
monitoring and improvement of the asset network.
IIMM 3.2.7 Monitoring and Review covers continual review and improvement
of risk management processes.
IIMM 3.3.7 Operational Improvement covers methods of identifying need for
operational improvements such as through analysis of systemic failures and
Root Cause Analysis.
IIMM 4.3.2 Implementing Management Systems covers the standard
management systems approach to ongoing system improvement.
IIMM 4.4.5 Information System Implementation and Ongoing Review looks
at the review and improvement of AM information systems.
IIMM 4.6 Audit and Improvement dealing with the monitoring and improvement
of the AM System.

22 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 APPENDIX A

Summary of IIMM Clause Numbers Relevant To ISO

For completeness, the following matrix of cross-referenced clauses from the IIMM includes those that are only briefly related
to the various ISO standard requirements as well as those that are substantive in terms of their how to guidance. Therefore
there are a number of IIMM sections that are relevant across many ISO sections. For example, many ISO sections have
reference to continual improvement, which means IIMM Section 4.6 on Continuous Improvement is frequently referenced.
Similarly, many ISO sections require documented evidence to be kept, and in these cases IIMM Section 4.3.4 Document
Management and Control is considered relevant.

ISO Clause

4.3: Determine AM System Scope

5.1: Leadership and Commitment

8.1: Operations Planning/ Control

6.2.2: Planing for AM Objectives
5.3: Roles and Accountabilities

7.5: Information Requirements

10.1: Managing Nonconformity

9.1: Monitoring and evaluation
4.2: Understand stakeholders
4.1: Organisation and context

10.3: Continual Improvement

8.2: Management of Change
7.6.2 Creating and Updating
6.1: Risks and Opportunities

7.6.3 Control of Information

9.3: Management Review

10.2: Preventative action

7.4: Communication
6.2.1: AM Objectives

9.2: Internal Audit

7.2: Competence

8.3: Outsourcing
4.4: AM System

7.3: Awareness
7.1: Resources

7.6.1: General
5.2: Policy
IIMM Section
Section 2 | Understanding Requirements
2.1 Setting the Strategic Direction
2.1.1 Defining the Scope of the AM System
2.1.2 Developing the AM Policy
2.1.3 Determining AM Objectives
2.1.4 Analysing the External Context
2.1.5 Analysing the Internal Context
2.1.6 Understanding Customer Expectations
2.2 Establishing Levels of Service
2.2.1 The Levels of Service Framework
2.2.2 Developing Levels of Service
2.2.3 Developing Effective Performance Measures
2.2.4 Evaluating Options and Setting Targets
2.2.5 Communicating with Customers
2.3 Forecasting Future Demand
2.3.1 Introduction
2.3.2 Factors Influencing Demand
2.3.3 Developing Demand Forecasts
2.3.4 Dealing With Demand Forecasting Uncertainty
2.3.5 Supply-Side Demand Management
2.3.6 Customer Demand Management
2.4 Collecting Asset Information (Asset Knowledge)
2.4.1 Identifying Information Requirements
2.4.2 Asset Register Structure and Hierarchy
2.4.3 Asset Identification Systems
2.4.4 Data Collection Processes
2.4.5 Maintaining and Improving Data Confidence
2.4.6 The Progression of Data Requirements
2.5 Monitoring Asset Performance and Condition
2.5.1 Developing a Performance Monitoring
Programme
2.5.2 Determine Method of Monitoring Performance
2.5.3 Determining What and When to Measure
2.5.4 Condition and Performance Rating Systems
2.5.5 Predicting Future Condition and Performance
2.5.6 Performance Evaluation and Reporting
2.5.7 Reviewing the Performance Monitoring
Programme

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 23

APPENDIX A

ISO Clause

4.3: Determine AM System Scope

5.1: Leadership and Commitment

8.1: Operations Planning/ Control

6.2.2: Planing for AM Objectives
5.3: Roles and Accountabilities

7.5: Information Requirements

10.1: Managing Nonconformity

9.1: Monitoring and evaluation
4.2: Understand stakeholders
4.1: Organisation and context

10.3: Continual Improvement

8.2: Management of Change
7.6.2 Creating and Updating
6.1: Risks and Opportunities

7.6.3 Control of Information

9.3: Management Review

10.2: Preventative action

7.4: Communication
6.2.1: AM Objectives

9.2: Internal Audit

7.2: Competence

8.3: Outsourcing
4.4: AM System

7.3: Awareness
7.1: Resources

7.6.1: General
5.2: Policy
IIMM Section
Section 3 | Lifecycle Planning
3.1 Lifecycle Decision Methods
3.1.1 The Decision Process
3.1.2 Choosing a Decision Technique
3.1.3 Net Present Value Analysis
3.1.4 Benefit-Cost Evaluation Methods
3.1.5 Cost Effectiveness Analysis
3.1.6 Multi-Criteria Analysis
3.1.7 Risk-Based Decisions
3.1.8 Other Decision Making Considerations
3.2 Managing Risk
3.2.1 Introduction
3.2.2 The Risk Management Context
3.2.3 Identifying Risks
3.2.4 Identifying Critical Assets
3.2.5 Evaluating the Risks
3.2.6 Managing the Risks
3.2.7 Monitoring and Review
3.2.8 Assessing Resilience
3.3 Operational Planning
3.2.1 Introduction
3.3.2 O perational Objectives and Intervention
Criteria
3.3.3 D eveloping Maintenance Plans and
Procedures
3.3.4 Operational Process Plans
3.3.5 Planning for Emergencies, Crises and Incidents
3.3.6 Operational Structures and Support
3.3.7 Operational Improvement
3.4 Capital Investment Planning
3.4.1 Introduction
3.4.2 Identifying and Scoping Capital Projects
3.4.3 Developing New Build Programmes
3.4.4 Developing Renewal Programmes
3.4.5 Predictive Modelling Techniques
3.4.6 Compiling the Capital Investment Strategy
3.5 Financial Planning
3.5.1 Introduction
3.5.2 Identifying and Categorising Lifecycle Costs
3.5.3 Valuation Approaches
3.5.4 Calculating Depreciated Replacement Cost
3.5.5 Developing Long Term Financial Forecasts
3.5.6 Developing Funding Plans

24 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 APPENDIX A

ISO Clause

4.3: Determine AM System Scope

5.1: Leadership and Commitment

8.1: Operations Planning/ Control

6.2.2: Planing for AM Objectives
5.3: Roles and Accountabilities

7.5: Information Requirements

10.1: Managing Nonconformity

9.1: Monitoring and evaluation
4.2: Understand stakeholders
4.1: Organisation and context

10.3: Continual Improvement

8.2: Management of Change
7.6.2 Creating and Updating
6.1: Risks and Opportunities

7.6.3 Control of Information

9.3: Management Review

10.2: Preventative action

7.4: Communication
6.2.1: AM Objectives

9.2: Internal Audit

7.2: Competence

8.3: Outsourcing
4.4: AM System

7.3: Awareness
7.1: Resources

7.6.1: General
5.2: Policy
IIMM Section
Section 4 | Assessment Management Enablers
4.1 Asset Management Leadership and Teams
4.1.1 The Asset Management Leader
4.1.2 Organisational Structures to Deliver AM
4.1.3 Integrating and Coordinating AM
4.1.4 Communicating AM Across the Organisation
4.1.5 Developing AM People (Capability)
4.1.6 Developing AM Capacity
4.2 Asset Management Plans
4.2.1 Determining the Scope of the AM Plans
4.2.2 Preparing and Communicating AM Plans
4.2.3 The Strategic AM Plan
4.2.4 The Portfolio AM Plan
4.3 Management Systems
4.3.1 The Management System Approach
4.3.2 Implementing Management Systems
4.3.3 Documenting AM Processes
4.3.4 Document Management and Control
4.3.5 Integrating Management Systems
4.4 Information Systems and Tools
4.4.1 Developing an AM Information System
4.4.2 Identifying AMIS Requirements
4.4.3 Identifying System Integration Requirements
4.4.4 Evaluating Software Solutions
4.4.5 System Implementation and Review
4.5 Service Delivery Models
4.5.1 Introduction
4.5.2 Defining Core Services and Assets
4.5.2 Identifying Service Delivery and Contracting
Options
4.5.3 Evaluating Options for Service Delivery
4.5.4 Procurement and Management of Outsourced
Activities
4.6 Continuous Improvement
4.6.1 Taking a Continuous Improvement Approach
4.6.2 Standards Certification
4.6.3 Evaluating AM System Performance
4.6.4 Identify Improvement Actions
4.6.5 Prioritising Actions and Developing the
Improvement Plan
4.6.6 Delivering the Improvement Plan
4.6.7 Monitoring the Effectiveness of Actions Taken
4.6.8 Organisational Commitment and Change

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 25

APPENDIX B

COMPARISON OF KEY DEFINITIONS BETWEEN ISO 55000 AND THE IIMM

The following table compares and draws alignment between terms used in the IIMM and ISO 55000.

ISO 55000 Definitions2 IIMM Definitions

ASSET ASSET
Item, thing or entity that has potential or actual value to an An item that has potential value to an organisation such as
organization (3.1.14) Note 1 to entry: Value can be tangible or plant, machinery, buildings, etc.
intangible, financial or non-financial, and includes consideration of
risks (3.1.22) and liabilities. It can be positive or negative at different
stages of the asset life (3.2.2).
Note 2 to entry: Physical assets usually refer to equipment,
inventory and properties owned by the organization. Physical
assets are the opposite of intangible assets, which are non-physical
assets such as leases, brands, digital assets, use rights, licences,
intellectual property rights, reputation or agreements.
Note 3 to entry: A grouping of assets referred to as an asset system
(3.2.6) could also be considered as an asset.
ASSET LIFE LIFE
Period from asset (3.2.1) creation to asset end of life. A measure of the anticipated life of an asset or
component; such as time, number of cycles, distance
intervals, etc.
ASSET MANAGEMENT ASSET MANAGEMENT (AM)
Coordinated activity of an organization (3.1.14) to realize value from The systematic and coordinated activities and practices
assets (3.2.1) Note 1 to entry: Realization of value will normally of an organisation to optimally and sustainably deliver
involve a balancing of costs, risks (3.1.22), opportunities and on its objectives through the cost- effective lifecycle
performance (3.1.18) benefits. management of assets.
Note 2 to entry: Activity can also refer to the application of the
elements of the AM system (3.4.3).
Note 3 to entry: to entry: The term activity has a broad meaning
and can include, for example, the approach, the planning, the plans
and their implementation.
ASSET MANAGEMENT PLAN ASSET MANAGEMENT PLAN (AM Plan)
Documented information (3.1.7) that specifies the activities, Long-term plans (usually 10-20 years or more for
resources and timescales required for an individual asset (3.2.1), infrastructure assets) that outline the asset activities and
or a grouping of assets, to achieve the organizations (3.1.14) asset programmes for each service area and resources applied
management (3.3.1)objectives (3.1.13). to provide a defined level of service in the most cost
Note 1 to entry: The grouping of assets may be by asset type (3.2.7), effective way.
asset class, asset system (3.2.6) or asset portfolio (3.2.5).
Note 2 to entry: An asset management plan is derived from the
strategic asset management plan (3.3.2).
Note 3 to entry: An asset management plan may be contained in, or
may be a subsidiary plan of, the strategic asset management plan.
ASSET MANAGEMENT SYSTEM ISO definitions adopted
Management system (3.4.2) for asset management (3.3.1) whose
function is to establish the asset management policy (3.1.19) and
asset management objectives (3.1.13).
Note 1 to entry: The asset management system is a subset of asset
management.
MANAGEMENT SYSTEM
Set of interrelated or interacting elements of an organization (3.1.14)
to establish policies (3.1.19) and objectives (3.1.13) and processes
(3.1.20) to achieve those objectives.
Note 1 to entry: A management system can address a single
discipline or several disciplines.
Note 2 to entry: The system elements include the organizations
structure, roles and responsibilities, planning, operation, etc.
Note 3 to entry: The scope of a management system may include
the whole of the organization, specific and identified functions of
the organization, specific and identified sections of the organization,
or one or more functions across a group of organizations.

26 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements


ISO 55000 Definitions2
ASSET SYSTEM
A set of assets (3.2.1) that interact or are inter-related.
CORRECTIVE ACTION
Action to eliminate the cause of a non-conformity (3.1.12) and to
prevent recurrence.
CRITICAL ASSETS
Asset (3.2.1) having potential to significantly impact on the
achievement of the organisations (3.1.14) objectives (3.1.13).
DOCUMENTED INFORMATION.
Information required to be controlled and maintained by an
organisation (3.1.14) and the medium on which it is contained.
LEVEL OF SERVICE
Parameters, or combination of parameters, which reflect social,
political, environmental and economic outcomes that the
organization (3.1.14) delivers. Note 1 to entry: The parameters can
include safety, customer satisfaction, quality, quantity, capacity,
reliability, responsiveness, environmental acceptability, cost and
availability.
LIFE CYCLE
Stages involved in the management of an asset (3.2.1)
Note 1 to entry: The naming and number of the stages and the
activities under each stage usually vary in different industry sectors
and are determined by the organization (3.1.14).
MONITORING
Determining the status of a system, a process (3.1.20) or an activity.
OBJECTIVE
Result to be achieved.
POLICY
Intentions and directions of an organisation (3.1.14) as formally
expressed by its top management (3.1.24)
PREVENTIVE ACTION
Action to eliminate the cause of a potential non-conformity (3.1.12)
or other undesirable potential situation.
PREDICTIVE ACTION
Action to monitor the condition of the asset and predict the need
for preventive action (3.4.4) or corrective action (3.4.1).
RISK
Effect of uncertainty on objectives (3.1.13).
Supplement to the IIMM 2015: Meeting ISO 55001 Requirements
APPENDIX B
IIMM Definitions
INFRASTRUCTURE ASSETS
Stationary systems forming a network and serving
whole communities, where the system as a whole is
intended to be maintained indefinitely at a particular
level of service potential by the continuing replacement
and refurbishment of its components. The network may
include normally recognized assets as components.
ISO definitions adopted
CRITICAL ASSETS
Those assets that are likely to result in a more significant
financial, environment and social cost in terms of impact
on organizational objectives.
NA
LEVEL OF SERVICE
Levels of service statements describe the outputs or
objectives an organisation or activity intends to deliver to
customers.
LIFECYCLE
The time interval that commences with the identification
of the need for an asset and terminates with the
decommissioning of the asset or any liabilities thereafter.
PERFORMANCE MONITORING
Continuous or periodic quantitative and qualitative
assessment of the actual performance compared with
specific objectives, targets or standards.
ASSET MANAGEMENT OBJECTIVES
Specific outcomes required from the implementation of
the AM framework.
ASSET MANAGEMENT POLICY
Outlines the principles and requirements for undertaking
AM across the organisation in a structured and
coordinated way, consistent with the organisations
strategic plan.
PLANNED MAINTENANCE
Planned maintenance activities fall into three categories;
Periodic necessary to ensure the reliability or to
sustain the design life of the asset
Predictive condition monitoring activities used to
predict failure.
Preventive maintenance that can be initiated without
routine or continuous checking (eg; using information
contained in maintenance manuals or manufacturers
recommendations) and is not condition based.
Other terms in the IIMM relating to preventive actions
are risk treatment and renewals and condition-based
preventive maintenance.
RISK
The effect of uncertainty on objectives. Risk events
are events that may compromise the delivery of the
organisations strategic objectives.
27
APPENDIX B

ISO 55000 Definitions2 IIMM Definitions

STAKEHOLDER STAKEHOLDER
Person or organisation (3.1.14) that can affect, be affected by, or A person or entity that has an interest in the organisations
perceive themselves to be affected by a decision or activity. activities or outcomes.
CUSTOMER
Any person who uses the assets or service, is affected by
it, or has an interest in it either now or in the future. This
definition does not necessarily require that payment is
made for use of the asset.
STRATEGIC ASSET MANAGEMENT PLAN (SAMP) ISO definition adopted
Documented information (3.1.7) that specifies how organizational
objectives (3.1.15) are to be converted into asset management
(3.3.1)objectives (3.1.13), the approach for developing asset
management plans (3.3.3), and the role of the asset management
system (3.4.3) in supporting achievement of the asset
management objectives.
Note 1 to entry: A strategic asset management plan is derived from
the organizational plan (3.1.16).
Note 2 to entry: A strategic asset management plan may be
contained in, or may be a subsidiary plan of, the organizational plan.

2 Not all Notes to each of the ISO definitions have been included in this Table and readers are referred to ISO 55000 Part 3 for full detail
of the ISO definitions.

28 Supplement to the IIMM 2015: Meeting ISO 55001 Requirements

 APPENDIX C

BIBLIOGRAPHY
Institute of Public Works Engineering Australasia, Australian Infrastructure Financial Management Manual, 2015.
Institute of Public Works Engineering Australasia, International Infrastructure Management Manual 2015
IPWEA, Practice Note 8 Levels of Service and Community Engagement, 2014
ISO 55000 Asset management Overview, principles and terminology.
ISO 55001 Asset management Management systems Requirements.
ISO 55002 Asset management Management systems - Guidelines for the application of ISO 55001.
New Zealand National Asset Management Support Group, Developing Levels of Service and Performance Measures
Guidelines, 2007.
New Zealand National Asset Management Support Group, Optimised Decision Making Guidelines, 2004.
New Zealand National Asset Management Support Group, New Zealand Infrastructure Asset Valuation and Depreciation
Guidelines, 2006.

Supplement to the IIMM 2015: Meeting ISO 55001 Requirements 29

Further guidance as referenced in this document

International IIMM International Infrastructure

Management Manual
Australian AIFMM
Infrastructure Infrastructure Australian Infrastructure Financial
Management Manual

Management Financial
Manual (IIMM) Management
2015 Manual

International Edition 2015 Australian Edition 2015

NAMS NAMS
New Zealand Optimised
Infrastructure Decision Making
Asset Guidelines
Valuation and
Depreciation
Guidelines

NAMS NAMS.PLUS
Developing Guidance an
Levels of online guided
pathway to the
Service and
implementation of
Performance Asset Management
Measures planning
Guidelines

Available from: www.ipwea.org/bookshop

www.nams.org.nz