With the insights of the draft version EN-17485; Maintenance within physical asset management – Framework for improving the value of the physical assets through their whole life cycle, figure one of this standard gives a inspiring visual of the links between other standards. A closer look of this figure leads to a significance of the “Asset Management BowTie’ developed by researcher Jan Stoker. In his approach the AM-BowTie represents his interpretation of figure one of the ISO55000.
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The recently published standard EN 17485 introduces methods and procedures about maintenance within physical asset management for all the levels and functions of the organizations’ management, including corporate planning management, plant management, technical management, production management, financial management, asset management, maintenance management, and quality management. Further and maybe even greater benefits are now being found through improved credibility in the eyes of customers, regulators and other stakeholders. Physical asset management also results in much greater engagement and motivation of the workforce, and in more sustainable, continual improvement business processes. Physical asset management builds up the required link between maintenance management and the organizational strategic plan and gives direction to maintenance activities.
The standards EN 16646 and EN 17485 build the bridge between ISO 5500x (Asset management system standards) and the EN maintenance standards. ISO 55001 states that organizations should determine e.g. the organizational context, requirements for the assets, decision criteria, strategic asset management plan and asset management plan (including maintenance). However, it does not describe how to do it. Respectively, maintenance standards often introduce e.g. the concept of the required function or the concept of maintenance strategy, but do not explain how they have been determined. EN 17485 introduces a methodological framework which advises organizations to implement the requirements presented in ISO 55001. By doing this it creates the bridge between the several maintenance standards and ISO 5500x in order to give an applicable starting point to the more detailed documents for the specific sub-functions of maintenance (See AM-BowTie).
This insights, the Asset Management BowTie, can be added toward the Asset Management paradigm with the (Digital) Line of Sit. To add the BowTie principle, the body of thoughts of the EN-17485 can be incorporated in the Asset Management paradigm with the mentioned standards. Result is a deepened figure 1 of the ISO5500 completed with the Line(s) of Sights, the levels of information, Business, Risk Assessment and Asset & Maintenance going to decision making in balancing Costs, Risks and Performance. The Asset Management BowTie show how standards can be uses as a reference framework.
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