Unsure of what the ISO 55001 asset management systems requirements could do for you?

Consider these benefits:

1. It reduces your maintenance costs
Organisations that implement the ISO 55001 management systems requirements can reduce maintenance costs through less service callouts and improved workforce productivity
2. It improves service performance
By introducing analytics techniques based on reliability centred maintenance, organisations can tell what assets require maintenance now, what is needed in the future and when asset end-of-life is likely to occur
3. It improves risk based decision making
By having an Information Management Plan with a data strategy linked to the condition, usage and performance of specific assets, organisations can make informed decisions about asset maintenance and replacement
4. It improves the quality of new capex requests
Organisations with an asset management practice based on ISO 55001 are more effective at justifying new capital requests and can show a better projected rate of return
5. It helps you defend yourself against class actions
Utilities can successfully defend themselves against major lawsuits for compensation due to the accuracy of their records and the knowledge of specific asset contexts
6. It helps you defend your maintenance budget
With budgets being pared back to the absolute minimum and more being demanded for less, organisations can defend maintenance budgets and prevent budget cutbacks
7. It helps you defend your pricing
Organisations can establish the correct relationships between services, assets and pricing and carry the argument forward for price increases with key stakeholders
8. It helps you reduce your insurance premiums
Negotiating with risk averse insurance companies and getting reduced premiums becomes easier when you know how reliable your assets are and can predict when failures will occur
9. It helps you transform your business
The ISO 55001 management systems requirements help you transform your business so that you can reduce costs, improve performance and lower risk

If you’re not enjoying these benefits today, contact Innovative Thinking (IT) at solve@innovativethinkingit.com.au

Or call Francis McDowell on 0468 303 231 to discuss your challenges