What is BS EN ISO 23726:2019?

BS EN ISO 23726:2019, also known as "Asset management - Guidelines for the implementation of asset management in organizations," is a professional technical standard that provides guidance and best practices for organizations implementing an asset management system. This standard was developed by the International Organization for Standardization (ISO) in collaboration with the British Standards Institution (BSI).

Purpose and Scope

The purpose of BS EN ISO 23726:2019 is to assist organizations in establishing, implementing, maintaining, and continually improving an effective asset management system. It aims to provide a framework that enables organizations to manage their assets efficiently and effectively throughout their lifecycle.

This standard is applicable to all types of organizations, regardless of their size, industry, or the nature of their assets. It can be used by organizations in various sectors, including manufacturing, transportation, utilities, healthcare, and more. Whether an organization is managing physical assets (such as equipment, infrastructure, or buildings) or non-physical assets (such as software licenses or intellectual property), the guidelines outlined in this standard are designed to be flexible and adaptable.

Key Requirements and Components

BS EN ISO 23726:2019 provides a comprehensive set of requirements and components that organizations should consider when implementing an asset management system:

Leadership and Commitment: Top management is responsible for demonstrating leadership and commitment to asset management within the organization. They should establish a policy, allocate resources, and promote a culture of continual improvement.

Planning: Organizations should develop a strategic asset management plan that aligns with their overall business objectives. This includes identifying asset-related risks, setting performance objectives, and establishing processes to measure and monitor performance.

Support: Adequate resources, competent personnel, and appropriate infrastructure should be available to support the asset management system. Training and awareness programs should also be in place to ensure employees understand their roles and responsibilities.

Operation: Organizations need to establish effective processes for managing their assets throughout their lifecycle, from acquisition and installation to operation and maintenance. This includes considering factors such as asset performance, reliability, and cost effectiveness.

Benefits of BS EN ISO 23726:2019 Implementation

Implementing BS EN ISO 23726:2019 can bring several benefits to organizations:

Improved Asset Performance: By implementing an asset management system based on best practices, organizations can optimize their assets' performance, enhancing productivity and efficiency.

Risk Reduction: Effective asset management helps identify and mitigate risks associated with asset failure, safety hazards, or non-compliance with regulations.

Cost Savings: Proactive asset management allows organizations to avoid unplanned downtime, reduce maintenance costs, and optimize the lifetime value of their assets.

Enhanced Decision Making: Access to accurate and up-to-date asset information enables informed decision-making, improving resource allocation and asset utilization.

In conclusion, BS EN ISO 23726:2019 provides organizations with valuable guidance for implementing an effective asset management system. By adopting these guidelines, organizations can improve asset performance, reduce risks, and achieve cost savings. Moreover, the standardized approach outlined in this standard promotes consistency and facilitates interoperability across different industries and sectors.