The New Asset Management Paradigm

An excellent article written by our own Thomas W Smith, Program Director, College of Engineering, University of Wisconsin-Madison The New Asset Management Paradigm Part 1 of 3.  

ISO Status Update

This Powerpoint presentation provides an update on the status of ISO 55000 Asset Management as of July 2012.  ISO 55000 Asset Management Dieter 2012 07 12

Hestermann Article Published

Lyle Hesterman wrote an article titled “Line of Sight Asset Management”.  You can read it here.Hestermann 24-3 Line of Sight

The ISO 55000 Committee Draft II – Uncle Sam Wants You!

There is a very short window until the committee draft of the proposed ISO 55000 standard for asset management goes for balloting. The Institute of Asset Management recently announced that it will make available a copy of the draft to whomever, within their membership, would be interested in commenting on it. In response to that announcement, […]

ISO PC 251 – Pretoria South Africa Meeting – Day 3

There has been a great deal of work done so far.  Just passing the halfway point of the meeting this week and we (working group 2) are confident that 55001 is ready to submit for committee draft.    On Monday there was a great deal of discussion around scope.  The ever present question around asset […]

ISO PC 251 Meeting in Pretoria, South Africa

The meeting is underway and delegates from numerous participating nations have turned up.  There are nineteen new members and two countries have changed from “Observer” status to “Participating” status.  These two nations are Belgium and China.  ISO PC 251 extends a warm welcome to these new member nations. The US TAG would like to thank […]

The Spotlight on Asset Management

Jim Dieter, the Chair of the US TAG to PC 251, has been very active in promoting the work of the TAG in various circles. He has been busy getting engaged with the maintenance and reliability community – a very invested stakeholder in the future of the ISO 55000 family of standards. Jim has also […]

Ten Months Into the Standard

Ten months into the standard and nearly a third of the way to promulgation.  The various mirror committees from the twenty four participating nations are busily commenting on the first committee draft in preparation for the third international PC 251 meeting in Pretoria, South Africa. During the previous meeting in Arlington, Virginia the members of […]


For immediate release WASHINGTON, DC – The U.S. Technical Advisory Group (US TAG) announces The U.S. Department of VeteransAffairs (VA) will be sponsoring the International October Meeting which is the next official meeting of the ISO/PC251 Committee scheduled for October 10–14, 2011 in Arlington, Virginia of our Nation’s capitol. Click here for details on this […]

Why is this an opportunity? Isn’t asset management already being “done”?

Over the last fifteen years  numerous standards have been introduced into the business world.  Standards over quality, environment, safety and accounting practices to name a few.  It could be argued that a standard for asset management is perhaps unnecessary and that businesses know well enough how to manage their assets.  I mean haven’t organizations been […]