What is ISO 55057:1998?

ISO 55057:1998

The Purpose of ISO 55057:1998

The purpose of ISO 55057:1998 is to provide guidelines for the preparation and use of asset management plans in organizations. Asset management plans are essential for ensuring that assets are effectively managed throughout their lifecycle, from acquisition to disposal. These plans help organizations maximize the value of their assets while minimizing risks and costs.

Key Principles and Benefits of ISO 55057:1998

ISO 55057:1998 is based on several key principles that guide the development and implementation of asset management plans. These include a focus on value creation, alignment with organizational objectives, risk management, and continuous improvement. By following these principles, organizations can expect several benefits:

Improved decision-making: Asset management plans provide a structured approach to assess, prioritize, and make informed decisions regarding asset performance, maintenance, and investment.

Enhanced efficiency: Effective asset management enables organizations to optimize the use of their assets, reducing downtime, and improving overall operational efficiency.

Greater accountability: ISO 55057:1998 promotes accountability by setting clear responsibilities for asset management, ensuring that all stakeholders understand their roles and obligations.

Cost savings: Through proactive maintenance and strategic investment, organizations can minimize unexpected failures, reduce repair costs, and extend the life of their assets.

Compliance and risk management: Asset management plans help organizations comply with legal and regulatory requirements, as well as effectively manage risks associated with asset failure or non-compliance.

Implementation of ISO 55057:1998

Implementing ISO 55057:1998 requires a systematic and structured approach. Here are the key steps:

Evaluate current asset management practices and identify areas for improvement.

Establish clear asset management objectives aligned with organizational goals.

Develop asset management plans that address the entire lifecycle of assets.

Allocate resources and responsibilities to ensure effective implementation of the plans.

Monitor and measure performance against set objectives, using appropriate key performance indicators.

Continuously review and improve asset management practices based on performance data and feedback.

In conclusion, ISO 55057:1998 provides organizations with comprehensive guidelines for developing and implementing asset management plans. By following these guidelines, organizations can enhance their decision-making, improve efficiency, increase accountability, and achieve cost savings. Implementation of ISO 55057:1998 requires a systematic approach and ongoing monitoring and improvement to ensure continued success in asset management.