Asset management's next act

Abstract

The article discusses the International Organization for Standardization (ISO) 55000 series of standards surrounding asset management systems (AMS) and published on January 10, 2014 by ISO in Geneva, Switzerland. Particular focus is given to how the published standard can help companies in the chemical process industries (CPI) and other asset-intensive industries. It also discusses the key values, the different parts, and the value creation and risk of the ISO 55000 series of standards.