BS ISO 55000:2014 pdf free
BS ISO 55000:2014 pdf free.Asset management Overview, principles and terminology.
The factors which influence the type of assets that an organization requires to achieve its objectives.
and how the assets are managed, include the following:
— the nature and purpose of the organization;
— its operating context;
— its financial constraints and regulatory requirements;
— the needs and expectations of the organization and its stakeholders.
These influencing factors need to be considered when establishing, implementing, maintaining and continually improving asset management.
Effective control and governance of assets by organizations is essential to realize value through managing risk and opportunity, in order to achieve the desired balance of cost, risk and performance. The regulatory and legislative environment in which organizations operate is increasingly challenging and the inherent risks that many assets present are constantly evolving.
The fundamentals of asset management and the supporting asset management system introduced in this International Standard, when integrated into the broader governance and risk framework of an organization, can contribute tangible benefits and leverage opportunities.
Asset management translates the organization’s objectives into asset-related decisions, plans and activities, using a risk based approach.
2.2 Benefits of asset management
Asset management enables an organization to realize value from assets in the achievement of its organizational objectives (see 2.5.3.4). What constitutes value will depend on these objectives, the nature and purpose of the organization and the needs and expectations of its stakeholders. Asset management
supports the realization of value while balancing financial, environmental and social costs, risk, quality of service and performance related to assets.
The benefits of asset management can include, but are not limited to the following:
a) improved financial performance: improving the return on investments and reducing costs can be achieved, while preserving asset value and without sacrificing the short or long-term realization of organizational objectives;
b) informed asset Investment decisions: enabling the organization to improve its decision making and effectively balance costs, risks, opportunities and pcrformance;
c) managed risk: reducing financial losses, improving health and safety, good will and reputation, minimizing environmental and social impact, can result in reduced liabilities such as insurance premiums, fines and penalties;
d) improved services and outputs: assuring the performance of assets can lead to improved services or products that consistently meet or exceed the expectations of customers and stakeholders;
e) demonstrated social responsibility: improving the organization’s ability to, for example, reduce emissions, conserve resources and adapt to climate change, enables it to demonstrate socially responsible and ethical business practices and stewardship;
0 demonstrated compliance: transparently conforming with legal, statutory and regulatory requirements, as well as adhering to asset management standards, policies and processes, can enable demonstration of compliance;
g) enhanced reputation: through improved customer satisfaction, stakeholder awareness and confidence;
h) improved organizational sustainability: effectively managing short and long-term effects, expenditures and performance, can improve the sustainability of operations and the organization;
i) improved efficiency and effectiveness: reviewing and improving processes, procedures and asset performance can improve efficiency and effectiveness, and the achievement of organizational objectives.
2.3 Assets
An asset is an item, thing or entity that has potential or actual value to an organization. The value will vary between different organizations and their stakeholders, and can be tangible or intangible, financial or non-financial.BS ISO 55000 pdf download.
