Old Friends in New Places : Comparing PAS55 with ISO55000 Rhys Davies, Chairman, ISO Project Committee PC251 Asset Management, UK

1. Old friends in new places
Comparing PAS55 with ISO55000
Rhys Davies, Chairman
ISO Project Committee PC251 Asset Management
assetmanagement.iirme.com ■ +971 4 407 2526 ■ register@iirme.com

2. © Institute of Asset Management. Reprinted by permission. Please contact us to use this material elsewhere. www.theIAM.org
First published in Assets, the magazine for Members of the IAM. September 2013
August 2013
W
hen I read PAS55, having
worked with numerous
organisations in many
different industries
around the world who have successfully
implemented PAS55-based approaches,
I see four main messages in the
management system framework it defines:
„„ line of sight of objectives
„„ transparent and consistent
decision-making processes
„„ long-term strategic view
„„ risk-based decisions from a
position of knowledge.
PAS55 addresses many other elements of a
management system framework, but I would
argue that these four main messages are
the areas that differentiate PAS55 from other
management systems standards such as
ISO9001 or ISO14001.These messages are old
friends that we have come to know and love as
we have grown accustomed to using PAS55.
While this familiarity is good, it causes issues
when introducing a new standard; familiar users
may be uncomfortable with the new format or
structure used in ISO55001.
So do our old friends from PAS55 reappear in
the ISO55001 document? Clearly there are many
changes in the wording and structure of the
document but I thinkit is fair to reassure existing
users of PAS55 that ISO55001 addresses the
four main messages they have become familiar
with. But those messages appear in different
places and are structured differently, so it is
worth highlighting where they can be found.
In bringing together experts from some 31
countries, and from a far more diverse set of
industries and technical disciplines than those
that contributed to the development of PAS55,
ISO/PC251 has also introduced new ideas, new
concepts and definitions that we believe will
help to advance the discipline.
Old friends
in new placesWith the ISO55000 series of standards due for publication in early 2014, many organisations
are asking how they compare with PAS55. Rhys Davies has the answers.
24 November 2013
Line of sight
of objectives
Line of sight
of objectives
Where it lived in PAS55: a series of requirements in Asset Management Policy,
Strategy, Objectives and Plans.
Where to find it now: in a thread running through ISO550001 sections 4, 5, 6 and
8. The concept of a Strategic Asset Management Plan, introduced in Section 4,
connects the organisational objectives and the asset management objectives. The
Asset Management Policy requirement is in Section 5 and is supported in Section
6 by Asset Management Plans. The implementation of Asset Management Plans is
addressed in Section 8.
The phrase “line of sight” itself did not translate very well into other languages, so
it has been renamed “aligned objectives”.
“These messages are
old friends that we have
come to know and love ”

3. © Institute of Asset Management. Reprinted by permission. Please contact us to use this material elsewhere. www.theIAM.org
First published in Assets, the magazine for Members of the IAM. September 2013
August 2013 25
ISO/PC251 – Deliverables
ISO55000–Assetmanagement–Overview,principlesandterminology
ISO55001–Assetmanagement–Managementsystems–Requirements
ISO55002–Assetmanagement–Managementsystems–Guidelineson
theapplicationofISO55001
Rhys is the Chairman of the ISO Committee
(ISO/PC251) leading 31 countries in developing
International Standards for asset management.
He was fundamentally involved in the
development of PAS55 and was Vice Chair of the
Steering Group for PAS55:2008. Rhys is also
President of eAsset Management Ltd and an IAM
Council Member.
Structure of ISO55001
Foreword
Introduction
1 Scope
2 Normativereferences
3 Termsanddefinitions
4 Contextoftheorganisation
4.1 Understandingtheorganisation
anditscontext
4.2 Understandingtheneedsand
expectationsofstakeholders
4.3 Determiningthescopeoftheasset
managementsystem
4.4 Assetmanagementsystem
5 Leadership
5.1 Leadershipandcommitment
5.2 Policy
5.3 Organisationalroles,responsibilitiesand
authorities
6 Planning
6.1 Actionstoaddressrisks
andopportunitiesfortheasset
managementsystem
6.2 Assetmanagementobjectives
andplanningtoachievethem
7 Support
7.1 Resources
7.2 Competence
7.3 Awareness
7.4 Communication
7.5 Informationrequirements
7.6 Documentedinformation
8 Operation
8.1 Operationalplanningandcontrol
8.2 Managementofchange
8.3 Outsourcing
9 Performanceevaluation
9.1 Monitoring,measurement,analysisand
evaluation
9.2 Internalaudit
9.3 Managementreview
10 Improvement
10.1 Nonconformityandcorrectiveaction
10.2 Preventiveaction
10.3ContinualImprovement
November 2013
Where it lived in PAS55: introduced
in the Asset Management Policy
requirements, expanded upon in
the Asset Management Strategy
requirements and required to be
implemented in the development
of Asset Management Plans.
Where to find it now: introduced
in Section 4 and required to be
implemented in Section 6.
ISO55001 requires a stronger
understanding of stakeholder needs,
both in terms of their objectives and
the decision-making criteria that
stakeholders require the organisation
to use.
Transparent and
consistent decision-
making processes
Transparent and
consistent decision-
making processes
Risk-based decisions
from a position
of knowledge
Risk-based decisions
from a position
of knowledge
Long-term
strategic view
Long-term
strategic view
Where it lived in PAS55: clause4.4.7–andembeddedthroughout
thedocument.
Where to find it now: ISO55001 Section 6.2.2 outlines the need to
implement risk management procedures. With the availability of risk management
standards like ISO31000, there is no need for ISO55000 to provide the same
level of detail as PAS55. The word “risk” appears throughout ISO55001, but the
requirements specifying the need to do risk management are more succinct.
Where it lived in PAS55: Introduced
in the Asset Management Policy
requirements and reinforced in the
Asset Management Strategy, coupled
with the need to understand the impact
of actions in one lifecycle phase in
subsequent lifecycle phases.
Where to find it now: TheStrategic
Asset Management Plan is required to
capture stakeholder criteria for making
decisions, including how to balance the
organisation’s business planning cycles
with the lifecycles of its assets.
ISO55001Section 6.2.2 includes clear
requirements to capture the processes
and methods used to manage assets over
their lifecycles.
Author’s biography