The Contemporary Landscape of Asset Management Systems
Quality - Access to Success, 20(169), 10-17 (2019)
8 Pages Posted: 13 May 2019
Date Written: 2019
The primary contributors to asset management literature stem largely from governmental organizations and industry practitioners. Their contribution takes the form of guidelines and reports on best practices, resulting in a variety of asset management frameworks, based on experience or specific personal understanding. Some of these frameworks have been officially formulated into standards such as the PAS 55 in the UK, the International Infrastructure Management Manual (IIMM) in Australia and New Zealand, and more recently the ISO 55000 suite. The purpose of this paper is to present a critical overview of the asset management discipline and the established asset management systems, thus outlining for the first time the contemporary landscape in the field. It is shown that the recent publication of the ISO 55000 suite has fundamentally altered the asset management systems landscape. Specifically, this has profoundly affected the PAS 55 which will not be further reviewed after the publication of ISO 55000, and the IIMM which has already issued a 2015 version and a guideline for adjustment to the new ISO 55000 requirements. Further, it can be estimated that with the introduction of ISO 55000 a new era of professional advancement in the field has emerged, similar to the quality movement in the 1990’s.
Keywords: Asset Management Systems; ISO 55000; PAS 55; International Infrastructure Management Manual (IIMM)
Suggested Citation: Suggested Citation