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website for downloading the
digital version of this quick guide. Supplement to the IIMM 2011
Quick Guide:
Meeting ISO 55001
Requirements for
Asset Management
Using the International Infrastructure
Management Manual (IIMM)
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 1
Purchase a copy of the International Infrastructure
Management Manual (IIMM) 2011
The International Infrastructure
Management Manual (IIMM), now in
its fourth edition, is widely accepted
as the international leading document
on infrastructure asset management.
The IIMM provides valuable guidance
to organizations on how to implement
good asset management practice for
infrastructure assets and includes over
100 case studies demonstrating good
practice across a wide range of assets
and countries.
The asset management practices
outlined in the IIMM will help
organisations:
• improve cost-efficiency and
reduce costs, for example by
using decision techniques that
identify the lowest lifecycle
cost maintenance and renewal
decisions;
• improve customer satisfaction by
better matching levels of service
with what customers want and are
willing to pay for;
• have more transparency in
decision-making, allowing stronger
governance and accountability; and
• be more sustainable, by having
long term plans that provide
equitably funded services across
generations.
2 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
Contents
Copyright
© This work is copyright of the New Zealand National Asset Management Support Group (NAMS) and the Institute of Public Works
Engineering Australasia (IPWEA). Apart from any use as permitted under the NZ Copyright Act 1994, no part may be reproduced by
any person without prior written permission from these parties.
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 3
Introduction
ISO Asset Management ISO 55001 is the most critical Standard in that it details the
things required to be done - some 70 requirements with a
Standards number of sub elements. It provides a systematic management
specification while allowing organisations to structure their
The three ISO Asset Management (AM) Standards have activities to suit their needs, resources, capabilities and
the potential to impact all organizations who have AM objectives. The structure of the Standard is formatted under
responsibilities. These Standards, whilst framed on the the main headings, as follows:
management of physical assets, can be utilised for any
asset type and by any size organization. They address the Context of the Organisation
requirements for a management system (not software) for the • Needs/Expectations of Stakeholders
management of assets and comprise:
• Scope of the AM system and to which assets it will apply.
• ISO 55000 Asset management – Overview, principles and
Leadership and Commitment
terminology
• Policy, Roles, responsibilities and authorities
• ISO 55001 Asset management – Management systems -
Requirements Planning
• Risks and Opportunities
• ISO 55002 Asset management – Management systems -
Guidelines for the application of ISO 55001. • AM Objectives and planning to achieve them
The ISO AM Standards are the first to be written in accordance Support
with the new Guidelines established by the ISO for the • Resources, awareness, competence
consistent structure and content of all their Management
System type standards. • Communication
Managing the
Organisation
Coordinated activity of an organisation to
realize value from assets.
Asset Management
Set of interrelated or interacting
Asset elements to establish asset management
Management System policy, asset management objectives and
processes to achieve those objectives.
Figure 1 Asset Management and the Asset Management System (Ref ISO 55000:2014)
4 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
Introduction
ISO 55002 explains the requirements specified in ISO 55001 Where to access the Standards
and provides examples to support implementation. It does not
provide guidance for managing specific asset types. They are currently adopted as ISO Standards and available
for purchase from SAI Global (http://infostore.saiglobal.com/
Who should use the Standards store/Portal.aspx?publisher=ISO ) or from your Country
Standards Association.
These International AM Standards are primarily intended for
use by those: How to apply the Standards
• considering how to improve the realisation of value for IPWEA and the New Zealand NAMS Group will be providing
their organisation from their asset base; training and offering assistance to organizations considering
• involved in the establishment, implementation, the implications, application and implementation of these new
maintenance and improvement of an AM system; Standards in their organisation. This will include a series of
IPWEA webinars.
• involved in delivering AM activities including service
providers;
International Infrastructure
• internal and external parties or stakeholders who assess
the organisation’s ability to meet legal, regulatory and Management Manual
contractual; requirements and the organization’s own The International Infrastructure Management Manual
requirements. (IIMM), now in its fourth edition, has evolved over many years
and is widely accepted as the international leading document
Why to use the Standards on infrastructure AM. The IIMM provides valuable guidance
to organizations on how to implement good AM practice
Organizations will implement these Standards to address a
for infrastructure assets and includes over 100 case studies
range of business objectives including the following (in no
demonstrating good practice across a wide range of assets and
particular order):
countries.
• improved financial performance;
Figure 2 introduces the AM process that leads readers
• better informed asset investment decisions; through the IIMM. The first part of the AM process is about
understanding and defining what services the infrastructure
• better managed risk;
assets should deliver. This is covered in Section 2, which will
• improved services and outputs; help infrastructure managers answer questions such as:
• demonstrated social responsibility; • What are my required levels of service and performance
• demonstrated compliance; delivery?
• enhanced reputation; • How will demand for these change over time?
• improved efficiency and effectiveness. • Are they capable of meeting these demands now and in the
future and what are the risks they may not?
ISO state that the main aim of Standards is to promote good
practice rather than primarily being about compliance. The The second part of the AM process, covered in Section 3 of
Standards themselves do not carry any force to require their the IIMM, is deciding the most effective lifecycle strategies
application and in most cases it will be up to the organisation to deliver the defined requirements. This Section will help to
to choose to apply them as part of good business practice. answer the questions:
However, in some highly regulated areas involving significant • What are my best strategies for operating, maintaining,
asset values, the regulators, financiers or insurers may require replacing and improving the assets?
these Standards to be applied, in order to provide evidence the
• How much will providing the service cost over the long-
assets are being effectively managed.
term?
Guidance on the skills and competencies required of those Section 4 provides guidance on the AM ‘enablers’ that support
involved in ISO 55001 audit and certification is provided effective infrastructure planning and decision processes
in ISO/IEC DTS 17021-5 — Conformity assessment — described above. This includes the structures, capabilities,
Requirements for bodies providing audit and certification of plans, systems, tools and external resources the organisation
management systems — Part 5: Competence requirements for needs for effective AM. It also details an approach for ensuring
auditing and certification of AM systems. AM practices are subject to continuous improvement.
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 5
Introduction
2.1 Develop the AM Policy 3.5 Financial and Funding Strategies 4.1 Asset Management Teams
Making Techniques
3.1 Lifecycle Decision
2.3 Forecast Future Demand 4.3 Information Systems and Tools
3.3 Maintenance
2.4 Understand the Asset Base Strategies and 4.4 Asset Management Service
(the asset register) Plans Delivery
3.2 Operational
2.5 Assess Asset Condition Strategies and 4.5 Quality Management
Plans
Figure 2: The Asset Management Process (sourced from IIMM 2011, p1/9)
6 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 4: Context of the Organisation
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 7
ISO Part 4: Context of the Organisation
Develop AM decision IIMM 3.1 Decision Making Techniques (p3/2) addresses the Standards
criteria requirements on determining criteria for AM decision making.
For further information on lifecycle decision making criteria, readers are referred
to the Optimised Decision Making Guidelines. Go to www.ipwea.org/bookshop
or at www.nams.org.nz
IIMM 2.1.1 Asset Management Framework (p2/3) spells out the scope and
Define the scope, relationships between the AM policy, AM strategy (referred to in ISO 55001 as the
boundaries and Strategic Asset Management Plan, or SAMP), AM objectives and AM plans.
interactions
IIMM 2.1.3 Determining the Appropriate Level of Asset Management
Practice (p2/7): Sets out all the activities that might be carried out within the AM
system and different levels of maturity from ‘minimum’ through to ‘advanced’ practice
(Table 2.1.2, p2/8).
IIMM 4.6.1 Assessing Current and Appropriate Asset Management
Performance (p4/66): Provides guidance on the level to which the AM System should
be developed.
IIMM 1.2.3 Integrating Asset Management Across the Organization (p1/8):
Introduces the need for the AM system to effectively interact with other management
systems in the organization.
IIMM 4.1.1 Defining the Asset Management Role and 4.1.2 Establishing
Asset Management Structures (p4/3) considers the varying approaches to
defining the scope and structure of the AM role and functions.
IIMM 4.5.3 Process Mapping (p4/60) illustrates how process maps can be used to
define interactions and boundaries of AM processes across teams.
8 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 4: Context of the Organisation
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 9
ISO Part 5: Leadership
IIMM 2.1.1 The Asset Management Framework (p2/3) specifies the content and
Promote continuous relationship between the AM Strategy, Plan, Policy and Objectives.
improvement and cross-
IIMM 4.2.1 Identifying Asset Management Objectives (p4/14) can assist
function integration and
leadership in ensuring AM objectives are aligned with organizational objectives.
collaboration
IIMM 4.6.5 Monitoring Asset Management Benefits and Outcomes (p4/74)
introduces the concepts of establishing targets and performance indicators that reflect
the overall benefit of implementing the AM system approach.
IIMM 2.6.1 and 2.6.2 The Risk Management Context (p2/ 91) will assist with
management understanding how organizational and AM risks can be aligned.
10 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 5: Leadership
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 11
ISO Part 6: Planning
IIMM 2.6.5 Evaluating the Risks (p2/ 97) covers how to evaluate and rank risks.
Plan actions to address
risks and monitor the IIMM 2.6.6 Managing the Risks (p2/ 100) outlines various risk treatment options
effectiveness of these and development of a risk action plan to prevent or reduce undesired effects.
actions IIMM 2.6.7 Monitoring and Review (p2/ 101) covers risk implementation
issues as well as communication with stakeholders on awareness, understanding and
relevance of the approach. It promotes a continuous improvement approach with
monitoring and review.
IIMM 3.1 Decision Making Techniques (p3/2) addresses the establishment of the
Ensure objectives are AM objectives using the criteria for AM decision making as referenced in Clause 4.2 of
established using AM ISO 55001.
decision criteria
and documented IIMM 4.2.6: Example of an Asset Management Plan Structure (p4/24)
requires AM objectives / levels of service to be documented within the Plan.
IIMM 4.5.4 Appropriate Levels of Documentation (p4/63) deals with reviewing
and documenting AM Processes.
12 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 6: Planning
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 13
ISO Part 6: Planning
Consider asset-related
risks in contingency IIMM 3.2.5 Emergency Response Planning (p3/ 24) covers issues pertinent to
planning infrastructure managers like natural hazards and disasters, civil defence, emergency
response and contingency planning and integrating these into infrastructure AM.
14 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 6: Planning
The IIMM sections relating to resource requirements are relevant and are detailed in
Determine and document relation ISO 7.1
resource requirements IIMM 3.5 Financial and Funding Strategies can assist with assessing financial
and financial and non- implications of the AM Plan, with specific relevance as follows:
financial implications
IIMM 3.5.2 Identifying and Categorizing Lifecycle Costs (p3/71) focuses on
whole of life costing across the whole life cycle of assets. Table 3.5.1 (p3/72) is useful in
defining and describing each of the typical lifecycle cost elements. Table 3.5.2 (p3/74)
also outlines the financial treatment of lifecycle costs by splitting them into their two
major components of acquisition or capital costs and operational costs along with the
recognition of renewals costs.
IIMM 3.5.3 Valuation Approaches and IIMM 3.5.4 Calculating Depreciated
Replacement Cost (p3/75) detail methodologies for calculating asset valuation and
depreciation which informs long term financial planning and assessment of whole of
life costs.
IIMM 3.5.5: Developing Long Term Financial Forecasts (p3/83) provides
guidance on how to assess financial implications and incorporate these into financial
forecasts in the AM Plan.
For further information on Infrastructure Financial Management, readers are
referred to the Australian Infrastructure Financial Management Guidelines
available through IPWEA. Go to www.ipwea.org/bookshop/aifmg/
For further information on lifecycle costs, valuation and depreciation, readers
are referred to the New Zealand Infrastructure Valuation and Depreciation
Guidelines, available at www.nams.org.nz
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 15
ISO Part 7: Support
16 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 7: Support
IIMM 4.1.5 Building Capability (Training and Resources) (p4/9) deals with
Ensure competency and people resources in terms of skills and expertise requirements and how to build
take actions if required capability through effective use of external specialists and targeted training and
development for all staff to build organization wide capability. It includes an example
of an organisation-wide AM training programme (p4/11).
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 17
ISO Part 7: Support
Develop a Consultation IIMM 2.2.6 Developing the Consultation Plan (p2/31) outlines how to establish
Plan consultation objectives, define the consultation scope and methodology and prepare a
Consultation Project Plan.
Establish IIMM 4.3 Information Systems and Tools (p4/29) provides detailed guidance
appropriate data on determining requirements for, evaluating, selecting and implementing and
repositories AM Information System. It includes an approach which begins with identifying
information needs based on user requirements.
18 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 7: Support
IIMM 2.4.4 Data Collection Processes (p2/54) details an approach for developing
Determine how and a practical data collection strategy that addresses the level of detail, data accuracy and
when to collect asset completeness required. It advocates developing a business case to balance affordability
data with outcomes. Case Study 35 (P 2/61) sets out an example of a documented data
capture process.
IIMM 2.5.3 Condition Assessment Techniques, 2.5.4 Condition Grading
Approaches (p2/77 and 2/79) cover data collection methods specifically in relation to
asset condition.
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 19
ISO Part 7: Support
IIMM 2.4.2 Asset Register Structure and Hierarchy (p2/52) is relevant for
Documented information deciding appropriate identification of assets and descriptions.
shall be appropriately
IIMM 2.4.3 Asset Identification Systems (p2/53) looks at unique identifiers
identified, formatted,
through the numbering system.
approved and reviewed
IIMM 2.4.6 Asset Hierarchies (p2/63) gives examples of various asset classes.
IIMM 2.4.7 Examples of Asset Identification/Numbering Systems (p2/65) is
also relevant.
IIMM 2.4.4 Data Collection Processes (p2/54) promotes developing a data
collection strategy to address the level of detail, data accuracy and completeness.
IIMM 4.3 Identifying System Data and Functional Requirements (p4/30)
includes commentary on the need for the Information Management System being
able to record metadata (eg. Data source, accuracy, confidence which would include
identification of all data stored).
IIMM 4.3.2 System Development Process (p4/29) deals with format and media
when developing an Information Management System.
IIMM 4.5 Quality Management (p4/58) deals with management of all
documentation within a quality management system and specifically AM process
documentation requirements.
20 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 8: Operation
IIMM 3.2 Developing Operational Strategies and Plans and IIMM 3.3
Establish and implement Developing Maintenance Strategies and Plans (p3/2 and p3/18) provide
operational planning guidance on operational planning (including managing asset utilization, demand
processes. management and emergency management processes) and maintenance planning
(including development and evaluation of maintenance processes).
In relation to operational processes for dealing with corrective and preventive actions,
the IIMM sections referenced under ISO 10.1 and 10.2 are also relevant here.
In relation to operational risk management, the IIMM sections referenced under ISO
Manage risks associated 6.1 are also relevant here.
with operational
processes.
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 21
ISO Part 8: Operation
IIMM 4.4.1 Defining Core Services and Assets (p4/48) considers which
Determine the scope functions should be retained as core in-house activities and which could be carried
of outsourced activities, out more effectively by external parties. It also covers typical divisions between asset
responsibilities for owner, manager and service delivery roles.
managing outsourced
processes IIMM 4.4.2 Identifying Service Delivery and Contracting Options (p4/50)
outlines a range of service delivery options from internal delivery through to Public-
Private Partnerships.
IIMM 4.4.4 Procuring and Implementing Service Delivery (p4/54) deals with
Determine processes aspects that should remain under the organization’s control when contracting out,
for knowledge and scoping and packaging of contracts, pre-selection of tenderers and tender evaluation
information sharing methods. It also covers contract performance specification and monitoring.
IIMM 4.3.3 Identifying System Data and Functional Requirements
(p4/30) includes looking at various business drivers associated with selecting an AM
information system, including the need for links with external service providers.
Some of the sections of the IIMM that relate to Clauses 7.2, 7.3, 7.6 and 9.1 of ISO
Ensure outsourced 55001 can be applied similarly to outsourced resources. In addition:
resources meet
IIMM 3.3.8 Maintenance Performance Assessment and Reviews (p3/49)
requirements of relevant
covers monitoring the performance of maintenance contractors.
ISOs
IIMM 4.5.3 Business Process Mapping (p4/60) is a potential method for defining
and documenting process and information flows between providers and owners.
22 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 9: Performance Evaluation
Retain documented
IIMM 4.5 (p4/59) deals with Quality Management and covers issues keeping
evidence of results
appropriate documentation.
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 23
ISO Part 9: Performance Evaluation
24 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 9: Performance Evaluation
The IIMM 2.6.7 Monitoring and Review (p2/ 101) deals with monitoring and
Retain documented reviewing risks that looks at strong and sustained commitment by management to the
evidence including risk management aspects of the AM system. It promotes a continuous improvement
continual approach with monitoring and review over time to report to management on
improvement appropriateness of the risk treatment.
opportunities IIMM 4.5 Quality Management (p4/59) covers issues such as implementation and
continuous improvement involving management review as well as appropriate levels
of documentation.
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 25
ISO Part 10: Improvement
React, control and IIMM 3.2.5 Emergency Response Planning (p3/ 24) covers incident and
manage non-conformities emergency management processes.
in the assets
IIMM 3.3.3 Maintenance Data Strategies (p3/35) includes processes for
responding to unplanned (reactive) maintenance requirements.
Retain documented IIMM 4.5 (p4/59) which deals with Quality Management covers issues such as
evidence recording performance and demonstrating compliance and keeping appropriate
documentation.
26 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
ISO Part 10: Improvement
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 27
ISO Part 10: Improvement
28 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
Appendix A
ISO Clause
7.4: Communication
8.3: Outsourcing
4.4: AM System
7.3: Awareness
7.1: Resources
7.6.1: General
5.2: Policy
IIMM Section
Section 1 | Introduction to Infrastructure Asset Management
1.1.1 Infrastructure and Society
1.1.2 Benefits of Improved AM
1.1.3 Catalysts for Improved AM
1.1 Asset Management Drivers and Benefits
1.2 Defining Asset Management
1.2.1 Key Elements
1.2.2 Lifecycle AM Activities
1.2.3 Integrating AM Across the Organisation
1.3 The Asset Management Process
1.3.1 Understanding and Defining Requirements
1.3.2 Developing AM Lifecycle Strategies
1.3.3 AM Enablers
Section 2 | Understanding and Defining Requirements
2.1 The Strategic Context and the Asset Management Policy
2.1.1 The AM Framework
2.1.2 Developing the AM Policy
2.1.3 Determining Appropriate Level of AM Practice
2.1.4 Understanding the External Environment
2.1.5 Understanding the Internal Environment
2.1.6 Understanding the Customer Perspective
2.2 Developing and Monitoring Levels of Service
2.2.1 Introduction
2.2.2 Developing Levels of Service
2.2.3 Developing Effective Performance Measures
2.2.4 Customer Consultation Process
2.2.5 Consultation Techniques
2.2.6 Developing the Consultation Plan
2.2.7 Developing Customer Charters
2.2.8 Performance Monitoring and Reporting
2.3 Forecasting Future Demand
2.3.1 Introduction
2.3.2 Factors Influencing Demand
2.3.3 Developing Demand Forecasts
2.3.4 Dealing With Demand Forecasting Uncertainty
2.4 Establishing Base Asset Knowledge
2.4.1 Identifying Information Requirements
2.4.2 Asset Register Structure and Hierarchy
2.4.3 Asset Identification Systems
2.4.4 Data Collection Processes
2.4.5 Maintaining and Improving Data Confidence
2.4.6 Examples of Asset Hierarchies
2.4.7 Asset Identification / Numbering Systems
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 29
Appendix A
ISO Clause
7.4: Communication
8.3: Outsourcing
4.4: AM System
7.3: Awareness
7.1: Resources
7.6.1: General
5.2: Policy
IIMM Section
2.5 Assessing Asset Condition
2.5.1 Introduction
2.5.2 Condition Assessment Processes
2.5.3 Condition Assessment Techniques
2.5.4 Approaches for Grading Condition
2.5.5 Predicting Condition Deterioration Rates
2.5.6 Asset-Specific Condition Grading Systems
2.6 Identifying Critical Assets and Business Risks
2.6.1 Introduction
2.6.2 The Risk Management Context
2.6.3 Identifying Risks
2.6.4 Identifying Critical Assets
2.6.6 Managing the Risks
2.6.7 Monitoring and Review
Section 3 | Developing Asset Management Lifecycle Strategies
3.1 Decision Making Techniques
3.1.1 Introduction
3.1.2 Benefit-Cost Analysis
3.1.3 Multi-Criteria Analysis
3.1.4 Risk-Based Decisions
3.1.5 Optimising Across Different Activities
3.1.6 Other Decision Considerations
3.2 Developing Operational Strategies and Plans
3.2.1 Introduction
3.2.2 Effective Asset Utilisation
3.2.3 Supply-Side Demand Management
3.2.4 Customer Demand Management
3.2.5 Emergency Response Planning
3.3 Developing Maintenance Strategies and Plans
3.3.1 Introduction
3.3.2 Objectives, Levels of Service and Intervention
3.3.3 Maintenance Strategies
3.3.4 Maintenance Objectives
3.3.5 Maintenance Plans
3.3.6 Work Plan for Unplanned Maintenance
3.3.7 Work Plan for Planned Maintenance
3.3.8 Maintenance Assessment and Reviews
3.4 Developing Capital Investment Strategies & Plans
3.4.1 Introduction
3.4.2 Identifying and Scoping Capital Projects
3.4.3 Developing New Build Programmes
3.4.4 Developing Renewal Programmes
3.4.5 Predictive Modelling Techniques
3.4.6 Compiling the Capital Investment Strategy
30 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
Appendix A
ISO Clause
7.4: Communication
8.3: Outsourcing
4.4: AM System
7.3: Awareness
7.1: Resources
7.6.1: General
5.2: Policy
IIMM Section
3.5 Financial and Funding Strategies
3.5.1 Introduction
3.5.2 Identifying and Categorising Lifecycle Costs
3.5.3 Valuation Approaches
3.5.4 Calculating Depreciated Replacement Cost
3.5.5 Developing Long Term Financial Forecasts
3.5.6 Developing Funding Plans
Section 4: Asset Management Enablers
4.1 Asset Management Teams
4.1.1 Defining the AM Role
4.1.2 Establishing AM Structures
4.1.3 AM Leadership and Coordination
4.1.4 AM Capability Requirements
4.1.5 Building Capability (Training and Resources)
4.1.6 Organisational Commitment and Change
4.2 Asset Management Plans
4.2.1 Identifying AM Objectives
4.2.2 The AM Plan Development Approach
4.2.3 Developing the AM Plan Template
4.2.4 Writing, Reviewing and Maintaining the Plan
4.2.5 Involving Key Stakeholders
4.2.6 Example of an AM Plan Structure
4.3 Information Systems and Tools
4.3.1 Principles for AMIS Implementation
4.3.2 System Development Process
4.3.3 Identifying Data and Function Requirements
4.3.4 Evaluating Software
4.3.5 System Implementation and Ongoing Review
4.3.6 Using GIS Systems for AM
4.4 Service Delivery Models
4.4.1 Defining Core Services and Assets
4.4.2 Service Delivery and Contracting Options
4.4.3 Evaluating/Selecting Service Delivery Options
4.4.4 Procuring and Implementing Service Delivery
4.5 Quality Management
4.5.1 Introduction
4.5.2 Implementing Quality Management
4.5.3 Business Process Mapping
4.5.4 Appropriate Levels of Documentation
4.6 Continuous Improvement
4.6.1 Assessing AM Performance Gaps
4.6.2 Identify Improvement Actions
4.6.3 Developing the Improvement Plan
4.6.4 Delivering Improvement Actions
4.6.5 Monitoring AM Benefits and Outcomes
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 31
Appendix B
32 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
Appendix B
(2) Not all Notes to each of the ISO definitions have been included in this Table and readers are referred to ISO 55000 Part 3 for full detail of the ISO definitions.
Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 © 33
Appendix C
Bibliography
Institute of Public Works Engineering Australia, Australian Infrastructure Financial Management Guidelines, 2009.
ISO 55000 Asset management – Overview, principles and terminology.
ISO 55001 Asset management – Management systems – Requirements.
ISO 55002 Asset management – Management systems - Guidelines for the application of ISO 55001.
New Zealand National Asset Management Support Group, Developing Levels of Service and Performance Measures Guidelines, 2007.
New Zealand National Asset Management Support Group and Institute of Public Works Engineering Australia, International
Infrastructure Management Manual, 2011.
New Zealand National Asset Management Support Group, Optimised Decision Making Guidelines, 2004.
New Zealand National Asset Management Support Group, New Zealand Infrastructure Asset Valuation and Depreciation Guidelines,
2006.
34 Supplement to the IIMM 2011: Quick Guide to Meeting ISO 55001 Requirements - 2014 ©
Further guidance as referenced in this document
International Australian
Infrastructure Infrastructure
Management Financial
Manual (IIMM) Management
2011 Guidelines
NAMS NAMS
New Zealand Optimised
Infrastructure Decision Making
Asset Guidelines
Valuation and
Depreciation
Guidelines
NAMS NAMS.PLUS
Developing Guidance – an
Levels of online guided
pathway to the
Service and
implementation of
Performance Asset Management
Measures planning
Guidelines