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It’s easy to become overwhelmed with the vast amount of terminology used to describe maintenance concepts. Even those who are familiar with various maintenance management terms know there is a lack of consistency among sources. This guide to maintenance management terminology serves to help teams better understand the differences between key phrases used in the industry. Browse through our maintenance glossary below. [Read more…]
According to the Institute of Asset Management, an asset management strategy is a “long-term optimized approach to management of the assets, derived from, and consistent with, the organizational strategic plan and the asset management policy.” Stated differently, an asset management strategy is a high-level but very important document that guides asset management activities within an organization.
Often times organizations want to determine where they in their journey of asset management. This usually takes place in the form of benchmarking or assessing their asset management system against the standard. Before progressing any further, it is important to understand the difference between an assessment and an audit; [Read more…]
When looking through the ISO 55001 standard, one may quickly become overwhelmed with the requirements.
The ISO 55001 standard was written in a way that groups the requirements, making it easier to understand & implement the standard.
This is different that subjects found in asset management (which we will discuss next week). These are the requirements that must be met if one to certify themselves against the ISO 55001 standard. [Read more…]