The release of the ISO55000 Asset Management System Standard in 2014 provided a new standard of excellence in benchmarking asset management performance, providing impetus for professional industry development and assessment of company asset management maturity.
The Asset Management Council, through the dedication of our Board and Committee representation, were instrumental in the development and introduction of the global Standard.
AM Council representatives participated in the original working groups of the Australian Standards Committee (MB19) and ISO Committee (TC251), along with delegates from North America, Europe and Asia, that culminated in the development of the ISO 55000 Standard.
This commitment to standardising best practice, in turn, is reflected in the fact that Australian companies lead the way in meeting the ISO 55000 benchmark!
Why a Standard for Asset Management?
Improve Asset Performance
Improve Asset Value
Effectively Manage Risk
Enhance Business Growth
Reliable Decision Making
Grow Stakeholder Confidence
Through the AMBoK working group, the AM Council has developed a Companion Guide to assist interpretation and implementation of the ISO 55 000 Standards series.
Asset Management Maturity Model
The ISO55000 Standard series places emphasis on assessing a company’s asset management maturity, with a view to encouraging continuous improvement. Introduction of the ISO 55000 series Standard requires companies to define their level of ‘asset management maturity’.
The AM Council’s Asset Management Maturity Model (AMMM) provides a tool to assess, measure, evaluate and benchmark the Asset Management capability maturity of an organisation. The AMMM views the entirety of an asset management system from a holistic management perspective, not just a focus on operations. Our model is aligned with ISO 55000 and can be applied within the context of any industry sector, whilst providing the ability to benchmark performance based on a history of collected data across industry.
Find out more about the Asset Management Maturity Model.
Certified Asset Management Assessor (CAMA)