ISO 55000 Asset Management Standards The Way of the Future Mar17 2 Three Topics ISO 55000 AM Standards Now and the Future Standards To Certify or Not IPWEA The How To ID: 769563
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ISO 55000 Asset Management Standards – The Way of the Future?
Mar-17 2 Three Topics ISO 55000 AM Standards – Now and the Future? Standards – To Certify or Not?IPWEA – The ‘How To’ of the Future
Tackling the AM Challenge Mar-17 3
Recent QAO Report Findings Most councils plan poorly for the long term. Asset management plans lack substance and rigour. Councils are not prudently managing long-life assets. Most councils cannot judge if they are financially sustainable. Councils are not responding appropriately to signals to resolve their fiscal difficulties
Mar-17 5 Some Recommendations from QAO For Councils: Improve asset condition data and AM Plans. Better project decision making framework. Engaging with communities on future service levels. Developing financial plans and financial forecasts.For the Department:Support Councils to strengthen strategic planning (LTFP and AM Plans)Require reporting on asset renewal funding ratio
Organizational Culture – Key to AM Success ‘Collaboration’ needs the right organizational culture It needs leadership from top management It needs openness and knowledge sharing but also some level of focus and accountability. It needs a ‘whole of organization’ approach – break down silos ISO 55000 promotes it IPWEA Tools and resources can help apply it Benefits can be enormous!3/29/2017 6
ISO Asset Management System Approach Four major Fundamentals Value Alignment Leadership/Culture Assurance
A Management System for the management of assets A set of tools, including; policies, plans, business processes and information systems, which are integrated to deliver the asset management activities The AM System coordinates contributions from and interaction between the many functional units within an organization impacting on asset management ISO AM System – What is it?
Balancing the Cost versus Performance over the AM lifecycle Risk management Affordable costs Desired Performance
Mar-17 10 The ISO 55000 AM Journey IPWEA has been part of the Journey since 2010 Standard first published January 2014 Technical Committee (TC 251) overseeing review – 3 rd meeting in California recently55002 is being revised to improve guidance
Mar-17 11 ISO AM Standards Application
Mar-17 12 Collaboration between AM and Finance
Mar-17 13 New ISO TC 251 Website https://committee.iso.org/tc251
Conformance Issues
What will your stakeholders expect? What are the costs/benefits? Concern regarding the competence Auditors in the AM MS field IPWEA involved in establishing a technical evaluation process for AM Auditors JAS-ANZ about to approve first CABs in Australia. To Certify or Not for Conformance?
ISO 55000: The What IPWEA: The How
IIMM 5 th Edition Available www.ipwea.org/iimm Aligns with ISO 55000 series New focus on Leadership Risk Management Infrastructure Resilience Auditing
IIMM Framework
Professional Certificate in Asset Management Planning www.ipwea.org/ ProCertAMPlanning
Free ISO Supplement to IIMM Matches the ISO “What to do” with the “How To Get There” of the IIMM Download atwww.ipwea.org/IIMMSupplement
ISO 55001 Maturity Assessment On line tools to allow an assessment of how well aligned your organisation is to the ISO 55001 Standard Guidelines for accessing and utilizing the tools Self assess or with independent support for greater transparency
New Finance Management Manual 2 nd Edition of AIFMG now the AIFMM Sister Publication with IIMM Reflects latest Accounting Standards Fair ValueResidual Valuewww.ipwea.org/AIFMM
24 Financial Sustainability Involves trade-offs What do we really need to do? What can we do without? What can we defer? What are the risks and consequences of deferring projects or maintenance?Will that be acceptable?Can we raise additional revenue?Can we use borrowings?Mar-17
Long Term Financial Plan PN6 Guidance for preparation of LTFP Linked to AM Plans Toolkit Excel based LTFP Model Free *.pdf download http://www.ipwea.org/PracticeNotes
26 Role of Borrowings Borrowings can accommodate some capital expenditure needs and equitably balance revenue with outlays over time A well managed organisation, dependent on a large investment on infrastructure assets is likely to be justified in having a considerable level of borrowings We need a sensible conversation with all parts of the Organization collaborating effectively. Mar-17 Ref: AIFMM, Sec 5.7, p 5.6
Useful Life Practice Note PN12 on Useful Life of a range of asset Classes is nearing completion The intention of this Practice Note is to provide Practitioners with the necessary principles and procedures to understand how useful life in used in asset management and financial management and reporting of infrastructure assets Watch website for release
28 Stewardship and Accountability Mar-17 Ref: Developed from nonproficacountigbasics.org
29 Management Systems Approach as a Way of the Future peter.way@ipwea.org www.ipwea.org 3/29/2017