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What is Asset Management? 

Asset management is a set of coordinated activities, involving the balancing of costs, opportunities and risks against the desired performance of assets to achieve an organization’s objectives.   

Asset Management

Asset management is the art and science of making the right decisions and optimizing the delivery of value. A common objective is to minimize the whole life cost of assets but there may be other critical factors such as risk or business continuity to be considered objectively in this decision making. 

Asset Management Best Practices Assessment

Asset Management transformation plan

Aligned with your company goals, an asset management transformation plan can bring together maintenance, operations, and engineering to develop a Strategic Asset Management Plan and implement the required processes and organization, using the gap analysis and best practices based on ISO 55001, to continuously improve the value return on assets with a lower risk to the Business and Stakeholders using the correct asset information.

Asset Management Best Practices Program

SMART Digitalization for Asset Management

Technology innovation are driving business to transform the traditional way of work in Asset Management using digitalization, expecting that this change will contribute to manage risk and improve cost, performance, quality and safety.

Digitalization can improve processes, providing new methods and opportunities for the business if the digital transformation is evaluated using a value chain business model, considering that the value created is higher than the cost of creating the value. After the transformation, sustainability is a must, so it is required to change the processes and adapt the skills to this new way of working.

ISO 55000

What is ISO 55000?

The ISO 55000 consists of three standards that represent a global consensus on asset management and what it can do to increase value generated by all organizations:

  • ISO 55000 Asset Management - Overview, principles and terminology
  • ISO 55001 Asset Management – Requirements
  • ISO 55002 Asset Management - Guidelines on the application of ISO 55001

ISO 55000 series provides terminology, requirements and guidance for implementing, maintaining and improving an effective asset management system, that can be applied to all types of assets and by all types and sizes of organizations.

Strategy Asset Management Plan

What is Strategic Asset Management Plan?

A Strategic Asset Management Plan is a high-level strategic plan that documents the relationship between the organizational objectives and the asset management objectives. A Strategic Asset Management Plan should define the required framework to achieve the asset management objectives and develop the asset management plan(s).

The Asset Management policy, Strategic Asset Management Plan and Asset Management Plans should be aligned to ensure assets are delivering value that meets stakeholder’s needs.

Risk Management

Why Risk Management?

Risk Management ensures the identification, evaluation, and prioritization of your business risks to establish the necessary actions control, eliminate or mitigate the impact of unfortunate events following the guidelines of ISO 31000 risk management standard.

Whenever we try to achieve an objective, there’s always the chance that things will not go according to plan. The risk can be managed, by using a systematic approach to risk management, that will lead to the reduction of the uncertainty.

Asset lifecycle management

What is Asset Lifecycle Management?

Asset Lifecycle Management is the process of optimizing the profit generated by your company assets throughout their lifecycle.

Optimizing the asset life cycle from planning, conceptual design, procurement, commission, operation, maintenance until decommissioning, through an integrated approach, including a comprehensive asset portfolio management, will allow to have a more robust decision-making process for new asset introduction or replacement affecting your future capital investment plans.

Asset information and knowledge

Asset information and asset knowledge management. What is the difference?

Asset information is the information that is critical to maintaining assets through a maintenance management system and the information that is critical to efficient supply chain management.

Some asset information that is crucial to have:

  • Physical Location of Assets.
  • Functional Location of Assets
  • Accurate Name Plate Data: horsepower, flow rate, date in service, manufacturer, serial number, asset number, reference to P&ID's, etc.
  • Linking of BOM's with assets, spares, P&ID's, etc.
  • Associated Documents: Up-to-date drawings, configuration management, warranty tracking, etc.

Asset knowledge is an organization’s collective know-how and understanding about its asset management system and assets. Asset knowledge have to be available and accessible, otherwise it is only potential knowledge.

Business Processes Mapping

Do you have effective business processes?

Effective business processes will ensure standard work practices, key roles, process interfaces and metrics. These enables the organization to manage in an efficient way the company’s asset management system.

To improve a business process:

  • Map the existing processes;
  • Analyze the process;
  • Redesign the process;
  • Revise organization, if required;
  • Revise job roles, if required;
  • Implement and communicate changes;
  • Upgrade the competences and skills according to the revised process;
  • Review the process.
Organization and Skills

Do you have the right organization and skills?

Managers often worry so much about doing things right (efficiency), that they forget to ask whether they are doing the right things (effectiveness). The important thing is to find a balance that reflects a compromise between efficiency and effectiveness and for that companies need the right organization.

An organization is a complex system and the quality of its management is the most significant factor for success. Organization have to be aligned with the strategy and processes developed, including job roles and skills required to deliver the expected results.

Integrated Management Systems

What is an Integrated Management System?

An Integrated Management System (IMS) integrates in a smart way all of an organization’s systems and processes into one complete framework, enabling an organization to work as a single unit with unified objectives.

This framework can benefit your organization through increased efficiency and effectiveness, and cost reductions while minimizing the disruption caused by potential different management systems and several external audits. It also shows your commitment to increased performance, overall objectives alignment, employee and customer satisfaction, and continuous improvement.

ISO 9001

What is ISO 9000?

ISO 9000 is defined as a set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements needed to maintain an efficient quality system.

They are not specific to any one industry and can be applied to organizations of any size.

The ISO 9000 family contains these standards:

  • ISO 9001:2015: Quality Management Systems - Requirements
  • ISO 9000:2015: Quality Management Systems - Fundamentals and Vocabulary (definitions)
  • ISO 9004:2018: Quality Management - Quality of an Organization - Guidance to Achieve Sustained Success (continuous improvement)
  • ISO 19011:2018: Guidelines for Auditing Management Systems

The ISO 9000 family of standards lays out the fundamentals and provides terminology, requirements and guidance for implementing, maintaining and improving an effective quality management system, that can be applied to all type of organizations with any size.

ISO 13485

What is ISO 13485?

ISO 13485 specifies requirements for a quality management system where an organization needs to demonstrate its ability to provide medical devices and related services that consistently meet customer and applicable regulatory requirements.

Such organizations can be involved in one or more stages of the life-cycle, including design and development, production, storage and distribution, installation, or servicing of a medical device and design and development or provision of associated activities (e.g. technical support). ISO 13485 can also be used by suppliers or external parties that provide product, including quality management system-related services to such organizations.

Requirements of ISO 13485 are applicable to organizations regardless of their size and regardless of their type except where explicitly stated. Wherever requirements are specified as applying to medical devices, the requirements apply equally to associated services as supplied by the organization.

ISO TS 16949

What is ISO TS 16949?

ISO/TS 16949 in conjunction with ISO 9001, defines the quality management system requirements for the design and development, production and, when relevant, installation and service of automotive-related products.

ISO/TS 16949 is applicable to sites of the organization where customer-specified parts, for production and/or service, are manufactured.

Supporting functions, whether on-site or remote (such as design centers, corporate headquarters and distribution centers), form part of the site audit as they support the site, but cannot obtain stand-alone certification to ISO/TS 16949.

ISO/TS 16949 can be applied throughout the automotive supply chain and its requirements are applicable to organizations regardless of their size and regardless of their type except where explicitly stated.

Learn more about

Asset Management

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Operational Excellence

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Reliability Maintenance Management

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Digital Transformation

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Training and Coaching

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