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What are the benefits of adhering to ISO 5500X if it is not mandatory?

4 Sep 2014, by Informa Insights

The Asset Management & Maintenance Conference 2014 is just two weeks away and includes a cross-industry approach to managing and maintaining assets. The speaker line-up includes, Dr Reyhaneh Hesami, Yarra Trams, Adrian Rowland, Tigerair, Stewart Bell, Powerlink and Michael Mason, Auckland Transport. Please view the full program here.

Key speakers will take part in a panel discussion to address the question: “what are the benefits of adhering to ISO 5500X if it is not mandatory?”

In advance of chairing the panel discussion at the Asset Management & Maintenance Conference 2014,  Professor Gopi Chattopadhyay, Principal Consultant, Cardno and CQUniversity (Australia) states: “The journey to asset management in line with ISO 55000 will lead to realising values from assets, align asset management systems with other systems and assure that assets perform in line with expectation from business objectives under acceptable risks and at a competitive costs”

The international standards were introduced at the beginning of the year, emphasising a whole of life approach to asset management. Eight months into the roll out, it will be interesting to hear from industry experts on their experience including: the type of companies who are in the process of, or who already have, implemented the standards; the challenges faced and how these have been tackled and the and the implications for small and large businesses.

Gopi adds that implementing the ISO 55000 suite of standards “requires long term commitment from senior leaders who need to be aware and trained in line with the fundamentals of asset management and take bold decision for rolling them out”.

When asked if the journey to ISO 5500X accreditation is more valuable than accreditation itself, Peter Kohler, AMBoK Commissioner, AM Council replied: “Absolutely.  Particularly with regard to the self-awakening, and hence learning, that occurs, and how organisations are meeting each of the “shall” statements that can only be delivered by the entity with the accountability for achieving the outcomes from asset management” More of Peter’s interview can be read here.

Kevin Creagh, Superintendent Asset Management Systems, Gladstone Power Station echoes Peter’s sentiment stating that “the value comes from having a system/process that enables your organisation to balance asset performance with risk at the lowest life cycle cost.” Kevin adds that one of the challenges “is sticking to an implementation plan despite the distractions/priorities of everyday work challenges”.

We are delighted to announce a fantastic line-up of panellists, who will discuss the benefits of adhering to IS0 5500X, including:

  • 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

The Asset Management & Maintenance Conference will be taking place at the Brisbane Convention & Exhibition Centre on 17 & 18 September. Places are still available and you may book here. We look forward to seeing you.


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