What is ISO 55099:2018 ?

Title: Understanding ISO 55057:1998 - The Ultimate Guide to Asset Management Systems

In today's competitive business environment, maximizing the value of assets is critical for success. To achieve this, organizations must effectively manage their assets throughout their entire lifecycle. Asset management systems are an essential tool for achieving this goal. ISO 55057:1998 is an international standard that defines the guidelines for establishing, implementing, and maintaining asset management systems within organizations.

ISO 55057:1998 is designed to provide a framework for integrating asset management practices into an organization's overall business strategy. By following the guidelines provided in ISO 55057:1998, organizations can improve their asset performance, reduce operational risks, and achieve greater returns on investments.

Purpose of ISO 55057:1998

ISO 55057:1998 is an essential standard for organizations that want to establish and maintain effective asset management systems. The primary purpose of ISO 55057:1998 is to provide guidelines for the preparation and use of asset management plans. Asset management plans are essential for ensuring that assets are effectively managed throughout their lifecycle, from acquisition to disposal.

Key Elements of ISO 55057:1998

ISO 55057:1998 provides a comprehensive framework for asset management systems. The standard consists of several key elements that are essential for establishing and maintaining effective asset management systems. These elements include:

Asset Management Policy

An asset management policy is a comprehensive document that outlines an organization's approach to asset management. It defines the organization's goals, objectives, and strategies for managing its assets.

Asset Register

An asset register is a database that contains information about the organization's assets. It includes information about the asset, its location, its status, and its cost.

Asset Management Plan

An asset management plan is a document that outlines the steps the organization will take to manage its assets. It includes a detailed description of the organization's asset management policies and procedures.

Asset Tracking

Asset tracking is the process of monitoring the organization's assets throughout their lifecycle. It involves tracking the location, status, and cost of each asset.

Asset disposal

Asset disposal is the process of getting rid of assets that are no longer needed or are no longer functioning properly. It involves identifying the assets, obtaining authorization for disposal, and disposing of the assets in an appropriate manner.

Key Principles and Benefits of ISO 55057:1998

ISO 55057:1998 provides several key principles and benefits for organizations that follow the standard. These principles and benefits include:

Asset Management Integration

ISO 55057:1998 provides guidance for integrating asset management practices into an organization's overall business strategy. By following the guidelines provided in ISO 55057:1998, organizations can improve their asset management integration and achieve greater returns on their investments.

Asset Performance

ISO 55057:1998 helps organizations to maximize the value of their assets by reducing operational risks and costs. By following the guidelines provided in ISO 55057:1998, organizations can improve their asset performance and achieve better financial returns.

Risk Management

ISO 55057:1998 provides guidance for managing risks associated with assets. By following the guidelines provided in ISO 55057:1998, organizations can reduce operational risks and achieve greater risk management control.

Conclusion

ISO 55057:1998 is an essential standard for organizations that want to establish and maintain effective asset management systems. By following the guidelines provided in ISO 55057:1998, organizations can improve their asset management systems, maximize the value of their assets, reduce operational risks, and achieve greater returns on their investments.