By Peter Way, Chair, NAMS.AU
With the pending launch of the ISO 55000 suite of Asset Management Standards within the next 12 months, many organisations should start thinking about the implications these new Standards may have for them. To assist in this process, the IPWEA has adopted a policy on how these Standards should desirably be applied for organisations involved in infrastructure AM in Australia.
The IPWEA will be conducting information and awareness workshops on the application of the new Standards in the first half of next year to coincide with their intended launch.
The IPWEA Policy recognises the benefits that can accrue to an organisation that chooses to apply the Standards, depending on the nature and scale of its business and its stakeholder needs. It promotes all organisations considering the Standards for the potential benefits arising from an improved management system approach to the way they perform their asset management functions.
The main thrust of the Policy is to promote any government driven requirement for application of the Standards be at a level appropriate to the business and community needs of their local governments, regional and state owned utility authorities, and state/territory departments that have responsibility for the delivery of services from infrastructure assets. The Policy does recognise that in some cases, it will be appropriate for regulators to require application of the Standards to assure stakeholders that infrastructure service providers are operating their assets effectively and efficiently.
The policy emphasises that any regulation should not be prescriptive as to how the Standards are to be applied but should encourage entities to consider their communities’ and/or stakeholders’ objectives, so that they apply the Standards to those assets and at a level appropriate to the organisation’s needs. This should be demonstrated through appropriate annual reporting.
It is important that application of the Standards is not for mere compliance, but to form an essential part of the management of an organisation. Each organisation should determine to what level it wishes to certify conformance with the Standards to satisfy assurance to stakeholders, and what is appropriate considering the size and nature of the organisation.
As with any ISO standards such as the 55000 series, it is likely that organisations will seek, or be required, to demonstrate to their stakeholders that they conform to the Standards requirements. It is proposed that this could be done in various ways, ranging from self certification through to more formal third party auditing and certification. The IPWEA believes that organisations should be given the opportunity, through consultation with all of their stakeholders, to determine what form of conformance assurance is most appropriate for their business.
It is considered essential that where any legislation is introduced, it should not force a ‘compliance’ approach but be carefully framed and introduced to encourage an asset management systems approach, with long term financial and asset management plans being an essential part of managing the business of the organisation.
The Policy includes some significant background on infrastructure asset management in Australia that explains why the IPWEA has adopted the approach it has. IPWEA has indicated it would be prepared to work with those framing any legislation, regulation or requirements relating to the ISO Asset Management Standards, for infrastructure organisations, to ensure they achieve the desired outcomes of embedding an asset management system approach as part of the organisation’s strategic business practice.
A copy of the full Policy is available here.