AMCouncil at ISO/TC251 in Paris February 2018

Martin Kerr is currently in Paris representing the AMCouncil as part of the MB19 Standards Australia Committee at the International ISO/TC251 Committee. He reports as follows:

It has been a privilege representing the Asset Management Council of Australia in Paris for the Feb 2018 TC251 meeting. TC251 is a Technical Committee (TC) that created and now maintains (sustains) the 5500x set of standards. There are representatives from societies (eg the AM Council) from around the world, countries (represented as Mirror Commitees, Australia is “MB19”) as well as Liaisons.

A liaison refers to a formal representation with another TC (IEC or ISO). Liaisons are very important as they provide the means by which one TC is represented by another so that boundaries are clear, objectives remain true to their respective standard area and formal communication channels are in place. Peter Kohler my predecessor has been instrumental in setting up many liaisons as well as creating the process for how the liaisons are conducted.

The week began with an opening plenary session. This provided insight to where TC251 had come from since the previous meeting as well as share a plan for the week ahead. The individual Work Group (WG) Conveners then present their objectives for the week ahead before the Secretary and Chair present the resolutions (the agenda and voting items). The conveners also share the statistics relating to comments and feedback received on ISO5500x which sets the scene for the volume of work ahead.

MB19 (Australia) met at the end of the day to discuss our respective progress and any items that can be shared to assist another group. Like any team the first hours of each WG were spent getting to know one another and getting a feel for how we best work together. I personally thank those who’s primary language isn’t English’s they needed to understand sometimes complex discussions in two languages!

TC251 is made up by the following WGs and Australian representatives.

WG3 - Communications (MB19 - Martin Kerr/AMBok Team Member)
WG4 - Product Development (MB19 - Dave Daines/AM Council Chair))
WG5 - Finance (MB19 & Convener - Peter Way)
WG6 - ISO55002 Revision (MB-19 - Kerry Brown and Tom Carpenter/AM Council Board Member)
WG7 - Government Policy for Asset Management (MB19 - Rob Lewis)

Some of the topics that were workshopped throughout the week included the integration of Management Systems, AM Terminology, Government Policy for AM, Finance and Accounting for AM, the upcoming ISO45001 standard (OH&S), Asset Management from the view of the various society bodies, the next generation of Asset Management practitioners, “Asset Management vs the Management of Assets” and a key focus on the next release of ISO55002.

On the Saturday immediately following the TC251 committee meeting, representatives from around the world met to share where their country sits in terms of overall Asset Management and ISO5001. It is fair to say that there is unilateral interest in Asset Management around the globe however there were two key items identified in the session. First, we need to better articulate the value of Asset Management, and secondly that the CAMA exam is now available in three languages and gaining traction globally. This is critically important as the Asset Management Council is a co-founder in the WPiAM and has driven the success today, which is adding to the global view that the Asset Management Council is at the forefront of the progression of Asset Management. This is testament to the many years of hard work by individuals (past and present).

I would finally like to acknowledge the hard work of all those who work in and support TC251 and look forward to continuing my work in WG3.

For more information on TC251 (ISO5500x) please visit https://committee.iso.org/home/tc251

Martin Kerr
CFAM, AMBok Team Member
Asset Management Council of Australia