Asset Management System or Framework

An asset management system (AMS) or asset management framework (AMF) supports asset management decision-making. It may be a simple procedure; it may be aligned or certified to ISO55001, or it may be a large integrated management system (IMS) it is up to the organisation.

fun fact: 1) You do not need an asset management system to make asset management decisions. However, it will help an organisation as it grows and needs to systematically do so (i.e. not rely purely on people)

fun fact: 2) An asset management system is not how to do asset management! That is up to the organisation.

fun fact: 3) an asset management system should reflect the way you do things, NOT the way you would like things done! (see my other video https://youtu.be/6x9COrVeKDU that centers an AMS around capability, NOT just compliance)

While overseeing ISO55001:2024 in TC251 we developed and stuck to the following principles…

G1 - Less is more (what is the least we can add to 00/01 to get the most benefit for industry?)
G2 - Consider organizations who are new to 550xx (changes may turn them away from ISO?)
G3 - Consider organizations that are already certified to 550xx (will they stay with the 2014 version?)
G4 - Consider an auditor of 55001 and how they will audit against “shalls” (i.e. remove ambiguity and provide clarity)
G5 - Shall statements are “outcome” worded not “detailed” worded
G6 - This is a management system standard (MSS) for asset management, not the management of assets.
G7 - This is not how to do asset management
G8 – It should also allow a small organization to apply the standard (maintain scalability)

https://youtu.be/Z7oFwW7iaqI?si=sWsR0_0rvoMKM7op

Connect with me on LinkedIn https://www.linkedin.com/in/martinkerr1968/
Visit https://applyingassetmanagement.com to request a video or ask a question.

NOTE: all opinions offered in videos on the applying asset management channel are from my own experience. I do not take liability for ideas that are applied. (standard liability waiver)

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YouTube Video UExPMlRYODVRTHptSjZuVURGaU92QUwwVXMxbmZOLXJVYS41NkI0NEY2RDEwNTU3Q0M2

What is an Asset Management System?

The Strategic Asset Management Plan, or SAMP as it is referred to, is one of the most misunderstood artefacts in an asset management system. During my time as convener of ISO55001, we debated what was in and what was out of a SAMP. This short video is how I explain it to organisations to simplify its use so that organisations get value from it. If it is seen as just another document/artefact, then it won't have much value.

The SAMP is a powerful, friendly and effective artefact for any organisation if positioned as it should be.

Connect with me on LinkedIn https://www.linkedin.com/in/martinkerr1968/
Visit https://applyingassetmanagement.com to request a video or ask a question.

NOTE: all opinions offered in videos on the applying asset management channel are from my own experience. I do not take liability for ideas that are applied. (standard liability waiver)

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YouTube Video UExPMlRYODVRTHptSjZuVURGaU92QUwwVXMxbmZOLXJVYS4yODlGNEE0NkRGMEEzMEQy

What is a Strategic Asset Management Plan? (SAMP)

An Asset Management Plan, or AMP as it is referred to, is a key planning document that links operational decision-making with higher-order objectives (also referred to as asset management objectives). When an AMP is understood and applied correctly, an organisation is able to push decision-making downward.

In this short video, I explain how an AMP is positioned to support effective resource planning.

Connect with me on LinkedIn https://www.linkedin.com/in/martinkerr1968/
Visit https://applyingassetmanagement.com to request a video or ask a question.

NOTE: all opinions offered in videos on the applying asset management channel are from my own experience. I do not take liability for ideas that are applied. (standard liability waiver)

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YouTube Video UExPMlRYODVRTHptSjZuVURGaU92QUwwVXMxbmZOLXJVYS4wMTcyMDhGQUE4NTIzM0Y5

What is an Asset Management Plan? (AMP)

What would you like to know about Asset Management?

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