Informa Australia is part of the Informa Connect Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Infrastructure | Transport & Logistics

The benefits and challenges of ISO 5500X

4 Sep 2014, by Informa Insights

Peter Kohler
Peter Kohler, Principal Instructor at The Asset Management College and AMBoK Commissioner at AM Council

Peter Kohler, Principal Instructor at The Asset Management College and AMBoK Commissioner at AM Council will be speaking at the Asset Management & Maintenance Conference, taking place in Brisbane on 16th and 17th September.

We had the chance to speak with Peter recently about the benefits and challenges of ISO 5500X.

Do you think the journey to ISO 5500X accreditation is more valuable than accreditation itself?

Peter: Absolutely.  Particularly with regard to:

  1. The self-awakening and hence learning that occurs when attempting to:
    • Address each and every of the 74 “shall” statements; as well as
    • Review how your organisation is meeting the challenge of being able to demonstrate that asset management is achieving an “appropriate balance of cost, risk and performance “as required by IS 55000
  2. How the organisation is meeting each of the “shall” statements that can only be delivered by the entity with the accountability for achieving the outcomes from asset management – sometimes called the “asset owner” responsibilities.

Where do you see weaknesses with the roll out of the new standards?

Peter: Standards have inherent strengths and weaknesses.  The ISO 55000 suite is industry agnostic (and deliberately so).   I believe that that is a considerable strength and not a weakness at all.

Some people in some industries believe it is a weakness, with the view that “The ISO 55000 suite does not appear to support my industry”.  I do believe that that view is one of the greatest myths of asset management.  To me, that view contradicts the explicit reason for the existence of ISO itself (free trade) and the nature of the suite itself!

Put another way, it is often expressed to me that “we are different” hence we need another view of asset management, another “tailored” standard!   In reality, of course there is no reason asset management needs to be different in differing industries – only the circumstances are difference!  Do we need a multitude of industry specific asset management standards (with the resultant variability of asset management perspectives and variability of quality) to talk about the differing circumstances?

What is your experience in implementing the standards? What are some of the challenges?

Peter: I think the ISO 55000 series standards are generally OK but lack certain information.

Given the unique challenges of the development of those standards this is not surprising.  After all, ISO 55001 was the first standard to apply the Annex SL mandated template!

The areas for improvement would be a lengthy one to discuss. I will be delighted to address these in discussions at the conference.  I do hope though that these will be addressed in the review of the ISO suite in five years time.

Peter will be taking part in the Panel Session: What are the benefits of adhering to ISO 55000 if it is not mandatory, alongside the following speakers:

  • Deryk Anderson, Board Director, Asset Management Council
  • Kevin Creagh, Superintendent Asset Management Systems, Gladstone Power Station
  • Michael Mason, Principal Asset Management Planning Engineer, Auckland Transport
  • Peter Kohler, Principal Instructor, The Asset Management College & AMBoK Commissioner, AM Council
  • Mark Jordan, Manager, Asset Management Team, Leighton Contractors
  • Tom Carpenter, CEO, Institute of Quality Asset Management

Chairing the panel will be Professor Gopi Chattopadhyay, Principal Consultant, Cardno and CQUniversity.

For more information about the conference agenda and to register, please visit the Asset Management & Maintenance Conference website.


Blog insights you may like

Get all the latest on Informa news and events

Informa Connect Australia is the nation's leading event organiser. Our events comprise of large scale exhibitions, industry conferences and highly specialised corporate training.

Find out more

Subscribe to Insights

Join Our Newsletter
Informa Insights

Stay up-to-date with all the latest
updates, upcoming events & more.