Maintworld 3/2019

ASSET MANAGEMENT
and people are not only encouraged
to participate, but required to do
so. TPM has a similar philosophy;
we are all responsible for asset reliability.
Care should be taken to avoid
making this a maintenance program.
The standard itself is meant to educate
the masses. ISO 55000 lists the primary
targets for the creation and deployment
of the standard itself. Specifically:
• All those engaged in determining
how to improve the returned value
for their company from their asset
base (this means all assets, but we
are focused on physical assets)
• All those who create, execute,
maintain, and improve an asset
management system
• All those who plan, design, implement
and review the activities involved
with asset management
If you read that list again, you could
see how an organization could accidently
make the adoption of ISO 55000 a maintenance
program.
The second element that we should
take heart in for our intervention is to
ensure that those responsible for the
execution of the activities, or as stated
above, the “control activities,” are properly
resourced to be successful. ISO
55002 instructs organizations to develop
these asset management plans for the
purpose of defining the activities that
will be implemented and the resources
that will be used to meet the asset management
objectives. And, those resources
have to be ‘aware and competent.’
FINANCING
GROWTH
ORGANIZATIONAL
PLAN
ORGANIZATIONAL
OBJECTIVES
ASSETS
ASSETS
MANAGEMENT
POLICY
SAMP
STRUCTURE
VISION
MISSION
There are three thoughts in that last
paragraph that require further definition.
I mentioned ISO 55002. ISO
55000 is actually made up of three companion
standards: 55000, 55001, and
55002. They build on each other like
Russian nesting dolls. I’d recommend an
investment in each. Control activities
are essentially the very foundational activities
that each organization executes
in the care strategy of their assets: PM/
PdM, planning, scheduling, work management,
storeroom control, KPIs and
metrics, etc. The last thought is the idea
of asset management objectives. I want
to expand on this by illustration.
The figure below is meant to show
the entire life cycle of a physical asset
from concept to grave. Give this some
thought.
What exactly is your company’s objective
towards each phase of the asset’s
physical life? It needs to be noted that
the asset’s life does not necessarily end
when your organization is done with it.
No, not at all. The asset could have value
at another location. Understanding this
leads to the crux of asset management.
To what end are we managing assets?
We are managing assets to ensure that
the asset, through the various phases of
its life, can continue to provide ‘value’ to
the organization. This, of course, is predicated
on our ability to determine what
‘value’ means to our organization in
terms of the return on asset utilization.
This last point is where the intervention
takes its initial shape. I feel that organizations
have failed in clearly defining
how utilization, continued reliability,
and availability of the asset contributes
to the value that organizations seek from
their assets. It is the responsibility of top
leadership to translate their organizational
objectives into an asset management
policy. This translation takes place
in the SAMP, or Strategic Asset Management
Plan. The figure below helps to
illustrate this interchange.
You’ve no doubt noticed the ‘Asset’
block between ‘Organizational Objectives”
and the ‘Asset Management Policy.’
This is the genius of ISO 55000 and
a detail we absolutely missed in adopting
TPM. The Asset Management standards
clearly stipulate that it is the responsibility
of the organization to determine
which physical assets, specifically, are
to be included in the asset management
plan. This is a critical point of distinction.
Let this summary remind you of the
path you need to walk going forward to
have a better (asset) life:
• Don’t make asset management a
maintenance program
• Engage all stakeholders
• Resource those responsible for
executing the control activities
• Determine which assets really
matter
• Translate organizational objectives
into an asset management policy
This intervention is meant to shake
you up and help you see the light and, in
a sense, the error of your ways, in terms
of asset management. I do this because
I care. Please reach out if you feel ‘we
need to talk.’
16 maintworld 3/2019