May 1, 2018 – Washington, DC and Portland, ME.The Asset Leadership Network (ALN) and 4tell™ Solutions, LP (4tell™) announced today the publication of ASSET MANAGEMENT IN HIGH PERFORMANCE ORGANIZATIONS – A Roadmap to High Performance: ISO 55000 and a Management Systems Approach to Asset Management. The paper is an in-depth study of the origins, evolution, and successes of the international standard for asset management known as ISO 55000. The authors make the case for ISO 55000 as a roadmap for those who want to build or maintain a HPO.
Jim Kavanagh, CEO of 4tell, says, “Today’s business environment and distributed asset portfolios benefit greatly from a global industry standard. ISO 55000 supports a consistent framework for asset management and empowers organizations to benchmark overall portfolio performance and align capital investments with their core mission.”
The paper was co-authored by Jack Kelly, ALN Senior Fellow for Federal Programs, and Michael Hardy, Director at 4tell and ALN Senior Fellow for State and Local Government, to provide teams with the management context, specific guidance and actionable steps they need to achieve success using the ISO 55000 management systems standard for asset management.
“I wish ISO 55000 had been in place while I was at OMB,” says Jack Kelly, a 36-year veteran of the U.S. Office of Management and Budget. “It would have provided very valuable guidance for all of the management reform projects on which I worked. I’m delighted to have had the opportunity to participate in creating a document that will make the standard accessible to a broad community of potential users. I think the white paper does that.
An electronic version of the publication is available at no cost to public sector teams, institutions, corporate organizations and others interested in unlocking the secret to becoming a HPO by reinventing the organization’s relationship to asset management. Download
Excerpts from ASSET MANAGEMENT IN HIGH PERFORMANCE ORGANIZATIONS – A Roadmap to High Performance: ISO 55000 and a Management Systems Approach to Asset Management
“The body of this paper discusses the evolution of ISO 55000 and explores some useful ways to understand and apply the basic concepts in the standard. It discusses who’s using the standard currently and the benefits they’ve realized.”
“Although the characteristics of high performance organizations are based on common sense principles, it’s diﬃcult for organizations to consistently live those principles on a day-to-day basis. Furthermore, high performance organizations tend to grow with their successes, and growth brings changes to activities and relationships that may not always be consistent with those principles. Sustaining a high
performance organization requires consistent leadership and attention to how these characteristics are exhibited in every facet of the organization, including asset management.
“If you get asset management right, you get it all right.”
“ISO 55000 Asset Management addresses what organizations need to do to achieve all their goals; more specifically, what they need to do to make sure they use their resources properly to achieve those goals.”
“The initial reaction when these disasters or inconveniences occur is to wonder whether there might have been some way to prevent the failure from happening. Commissions are formed and investigations are done to explore ways to address the underlying issues that cause these problems and prevent future occurrences. Thankfully, there is a solution already in practice that can prevent most asset-related failures: It’s called asset management. This paper is an introduction to the internationally recognized standard for best practices in asset management.”
About Asset Leadership Network: The Asset Leadership Networkis an organization composed of asset management industry leading organizations representing asset holders, professional and standards organizations, and solutions providers that support and help private industry, public organizations and government entities realize value from their assets through the application and practice of the ISO 55000 Asset Management set of standards and global asset management best practices. (www.assetleadership.net) Contact Asset Leadership Network Communications Director, Michael Bordenaro, at mbordenaro@AssetLeadership.net.
About 4tell™ Solutions, LP: 4telldevelops Capital Asset Performance Software that allows organizations to eﬀectively align their deployment of capital with business goals and mission objectives following the principles set forth in ISO 55000. The foundation is the 4tell Platform which addresses the need for owners, executives, managers, engineers, service providers, consultants, and others to be able to compile and leverage shared capital asset data on behalf of the organization. 4tell™ develops products that drive eﬃciencies and enhance value from speciﬁc industry standard practices and business processes. (www.4tellsolutions.com)
4tell Solutions, LP
Meagan Moughty, Marketing