Asset Management - Support

7.1 Resources

                    The asset management system has to be resourced — properly. Resources are explicitly identified, sized, allocated, and reviewed across four states: setting it up, running it in, keeping it operating, and improving it.
                

Resourcing the work itself:
Beyond running the system, resources are also committed to actually achieving the asset management objectives and executing what the asset management plans say will be done — capex, opex, headcount, contractor capacity, data and tools.

Resource Categories for Asset Management:

Human Resources: Competent personnel for asset management activities across all lifecycle stages
Financial Resources: Budget for asset operations, maintenance, investments, and system implementation
Physical Resources: Infrastructure, facilities, equipment, and tools for asset management
Technology Resources: Information systems, software, monitoring equipment, and digital tools
Information Resources: Data, documentation, knowledge management systems, and decision support tools
Time Resources: Adequate time allocation for planning, implementation, and improvement activities

Asset Management System Resources

Establishment Phase

System design expertise
Process development resources
Technology implementation
Training and development

Implementation Phase

Project management resources
Change management support
System integration capabilities
Stakeholder engagement

Maintenance Phase

Ongoing operational support
System administration
Performance monitoring
Compliance management

Improvement Phase

Analysis and evaluation
Innovation resources
Benchmarking capabilities
Enhancement implementation

Resource Principle: Adequate resources are essential for effective asset management system establishment, implementation, maintenance, and continual improvement

Resources for Asset Management Objectives

Performance Objectives

Condition monitoring systems
Performance analysis tools
Reliability engineering expertise
Maintenance resources

Financial Objectives

Financial management systems
Cost accounting capabilities
Investment analysis tools
Budget management resources

Risk Objectives

Risk assessment expertise
Safety management systems
Emergency response resources
Compliance monitoring tools

Stakeholder Objectives

Communication systems
Stakeholder engagement resources
Customer service capabilities
Reporting and analytics tools

Resource Allocation Considerations:

Priority Alignment: Resources allocated based on objective priorities and criticality
Capability Gaps: Identify and address resource gaps that may prevent objective achievement
Resource Optimization: Efficient use of resources across multiple objectives
Flexibility: Adaptable resource allocation to respond to changing requirements

Asset Management Plan Implementation Resources

Planning Phase Resources

Strategic planning expertise
Asset condition assessment tools
Forecasting and modeling capabilities
Stakeholder consultation resources

Execution Phase Resources

Project management capabilities
Technical execution resources
Quality assurance systems
Progress monitoring tools

Monitoring Phase Resources

Performance measurement systems
Data collection and analysis tools
Reporting capabilities
Evaluation expertise

Review Phase Resources

Audit and review capabilities
Lesson learned capture systems
Improvement planning resources
Update and revision capabilities

Integration: Resources for executing the asset management plan are reconciled with the broader corporate resource cycle — capital allocation, workforce planning, procurement pipelines — so commitments line up with what the organisation can actually deliver.

7.2 Competence

Competence Requirements

Competence is identified, secured and verified — not assumed:

a Define the competencies needed by anyone — employees, contractors, third parties — whose work affects asset performance, asset management practice or the system itself

b Confirm those people are actually competent, on the basis of education, training or demonstrable experience — not by job title alone

c Where competence is missing, act to close the gap — and verify whether the action worked

Key Competence Areas for Asset Management:

Technical Competencies

Asset condition assessment
Maintenance methodologies
Reliability engineering
Risk assessment

Management Competencies

Strategic planning
Project management
Financial analysis
Stakeholder management

Analytical Competencies

Data analysis
Performance measurement
Decision support
Optimization techniques

Operational Competencies

Asset operation
Safety management
Environmental compliance
Emergency response

Competence Foundation Elements:

Education: Formal qualifications, degrees, certifications relevant to asset management
Training: Structured learning programs, workshops, professional development courses
Experience: Practical application, on-the-job learning, project involvement
Skills: Technical abilities, soft skills, problem-solving capabilities
Knowledge: Understanding of principles, standards, best practices

Assessment and Review Requirements

d Run competence assessments on a defined cycle — to confirm the right competencies are still defined, and that the people in the roles still have them

e Review the competency definitions themselves — technology, regulation and asset profiles change, and so do the skills the work needs

Evidence:
Competence is evidenced by documented information — training records, certifications, sign-offs, assessment outcomes — that an auditor or new manager could reconstruct from cold.

Competence Assessment Framework:

1. Competence Mapping

Define required competencies for each role and function

2. Current State Assessment

Evaluate existing competence levels against requirements

3. Gap Analysis

Identify competence gaps and development needs

4. Development Planning

Create targeted development plans to address gaps

5. Effectiveness Evaluation

Assess the effectiveness of development actions

Assessment Methods:

Performance Reviews: Regular evaluation of work performance and outcomes
Skills Testing: Technical assessments and practical demonstrations
360-Degree Feedback: Multi-source feedback from colleagues and stakeholders
Self-Assessment: Individual evaluation of competence and development needs
Certification Tracking: Monitoring of professional certifications and credentials

Assessment Principle: Regular competence assessment ensures that personnel remain capable of effectively contributing to asset management performance

Competence Development Actions

Closing competence gaps — practical options:
Train existing personnel, set up structured mentoring, re-deploy people whose competencies fit a different role, recruit, or bring in contractors and specialists for capability that is not justified in-house. The choice is a cost, time and risk trade-off — not a default.

Internal Development

Training Programs: Structured learning and skill development
Mentoring: Knowledge transfer from experienced personnel
Job Rotation: Exposure to different asset management functions
Re-assignment: Moving personnel to roles matching their competencies
Coaching: One-on-one development support

External Development

Professional Courses: Industry training and certification programs
Conferences: Knowledge sharing and networking events
Benchmarking: Learning from industry best practices
Consulting: Expert advice and knowledge transfer
Partnerships: Collaborative learning with other organizations

Acquisition Strategies

Recruitment: Hiring personnel with required competencies
Contracting: Engaging external experts and specialists
Outsourcing: Utilizing third-party service providers
Partnerships: Strategic alliances for competence sharing
Consulting: Accessing specialized knowledge and skills

Effectiveness Evaluation Methods:

Performance improvement measurement

Knowledge and skill assessments

Feedback from supervisors and colleagues

Application of learning in work activities

Contribution to asset management objectives

7.3 Awareness

                    People whose work — direct or contracted — affects achievement of the asset management objectives understand four things:
                

a The asset management policy and what it commits the organisation to

b How their own work contributes to the system — and what improvement looks like

c What happens if the system's requirements are not met — operational, safety, regulatory, financial consequences

d Their own activities, the risks and opportunities attached to them, and how those connect with adjacent work

Awareness is verified, not assumed:
Awareness activity is itself evaluated for effectiveness — toolbox talks, training, comms — using indicators that show whether people actually understood and changed behaviour, not just attended.

Key Awareness Areas

Policy Awareness

Understanding of asset management policy content
Knowledge of organizational commitment
Awareness of policy implications for daily work
Understanding of value expectations

System Contribution

Role in asset management system effectiveness
Individual responsibilities and accountabilities
Benefits of improved performance
Impact on organizational objectives

Non-Conformance Implications

Consequences of system failures
Impact on asset performance
Stakeholder and business implications
Personal and organizational risks

Work Activity Context

Understanding of work activities and their purpose
Associated risks and opportunities
Interconnections with other activities
Impact on asset management objectives

Awareness Building Strategies

Communication Methods

Regular team meetings and briefings
Internal newsletters and bulletins
Digital displays and dashboards
Intranet and collaboration platforms
Management communications

Training and Education

Orientation programs for new employees
Asset management awareness training
Role-specific training programs
Refresher training sessions
E-learning modules

Engagement Activities

Toolbox talks and safety briefings
Asset management forums
Suggestion and feedback programs
Recognition and reward systems
Case study sharing

Visual Aids

Posters and signage
Process flow diagrams
Performance displays
Interactive kiosks
Mobile applications

Target Audiences for Awareness:

Senior Management: Strategic context and leadership requirements
Asset Managers: System operation and performance responsibilities
Operations Personnel: Daily activities and performance impact
Maintenance Staff: Asset care and reliability contribution
Support Functions: Enabling role in asset management success
Contractors: External contributor awareness and expectations

Effectiveness Evaluation

Assessment Methods

Surveys: Regular awareness surveys and questionnaires
Interviews: One-on-one discussions with personnel
Focus Groups: Group discussions on awareness topics
Observations: Behavioral observation and assessment
Testing: Knowledge and understanding assessments

Performance Indicators

Participation Rates: Attendance at training and awareness sessions
Knowledge Scores: Results from awareness assessments
Behavior Changes: Observable improvements in work practices
Incident Reduction: Decreased non-conformances and issues
Engagement Levels: Active participation in improvement activities

Continuous Improvement: Awareness evaluation results should be used to improve awareness building strategies and activities.

Awareness Principle: Effective awareness ensures that all personnel understand their role in asset management success and are motivated to contribute positively

7.4 Communication

                    Communication and engagement around assets, asset management and the system are planned — not improvised. Four questions get answered:
                

a What is being communicated — and what is deliberately not

b Timing — routine cadence and event-triggered communications

c Audience — internal teams, contractors, regulators, communities, investors

d Channel and form — written, briefing, dashboard, formal report

Two-way:
Communication needs are decided with input from the relevant stakeholders, not designed in isolation. The same applies to evaluating whether the communications are working — feedback comes from the audience, not from the sender.

Evidence:
The communications plan and effectiveness reviews are held as documented information — so the organisation can show what was said, to whom, when, and what changed as a result.

Asset Management Communication Framework:

What to Communicate

Asset performance data
System effectiveness
Policy updates
Risk information
Improvement initiatives

When to Communicate

Regular scheduled updates
Event-triggered communications
Emergency situations
Planning cycles
Performance reviews

With Whom

Internal stakeholders
External stakeholders
Regulatory bodies
Customers and users
Suppliers and partners

How to Communicate

Reports and dashboards
Meetings and presentations
Digital platforms
Documentation
Training and workshops

Communication Best Practices:

Stakeholder-Centric: Tailor communications to stakeholder needs and preferences
Timely and Relevant: Provide information when needed and in appropriate detail
Two-Way Engagement: Enable feedback and dialogue, not just information sharing
Consistent Messaging: Ensure alignment and consistency across all communications
Effectiveness Monitoring: Regularly evaluate and improve communication effectiveness

7.5 Documented Information

7.5.1 General

The asset management system carries three layers of documented information:

a What ISO 55001 itself requires to be documented

b What the organisation has decided is necessary for the system to actually work — beyond the minimum

c What legal, regulatory or contractual obligation requires — mining permits, environmental authorisations, fixed-asset register reconciliations, audit evidence

Scope of the documentation rules:
The creation and control rules in 7.5.2 and 7.5.3 cover not only documents in the conventional sense but also the documented data and documented knowledge the organisation depends on — asset registers, condition records, technical libraries.

Factors Affecting Documentation Extent:

Organization Size: Size of organization and its type of activities, processes, products and services
Process Complexity: The complexity of processes and their interactions
Personnel Competence: The competence of persons
Asset Characteristics: The volume, diversity, complexity and criticality of the asset(s) and asset system(s)

Types of Documented Information in Asset Management:

Policies and Procedures: Asset management policy, procedures, work instructions
Plans and Strategies: SAMP, asset management plans, investment plans
Asset Information: Asset registers, condition assessments, performance data
System Documentation: Process descriptions, flowcharts, system manuals
Records: Meeting minutes, audit reports, maintenance records
Legal Documents: Regulatory requirements, compliance records, permits

7.5.2 Creating and Updating Documented Information

Documents and records are created and updated under three controls:

a Identification — title, date, author, version, reference number — sufficient that any item can be unambiguously cited

b Format and medium that fit the use — language, software, paper or electronic — and remain readable over the retention period

c Review and approval before the document goes into use — by someone with the authority to confirm it is suitable and adequate

Document Lifecycle Management:

Creation

Identify documentation need
Assign author and responsibility
Develop content using templates
Ensure appropriate identification

Review and Approval

Technical review for accuracy
Stakeholder review for relevance
Formal approval process
Quality assurance check

Distribution

Controlled distribution
Access management
Communication of availability
Training on new documents

Maintenance

Regular review cycles
Update management
Version control
Obsolete document management

Quality Principle: All documented information must be appropriate, accurate, and fit for its intended purpose

7.5.3 Control of Documented Information

Controlled documents do two things consistently:

a They are available — current version, in the right place, at the moment they are needed

b They are protected — against loss of confidentiality, unauthorised modification, corruption, or accidental destruction

Control activities

The control regime covers — depending on the document type and risk:

Distribution & Access

Controlled distribution lists
Access rights management
Retrieval procedures
Usage guidelines

Storage & Preservation

Physical storage security
Electronic backup systems
Legibility preservation
Environmental protection

Change Control

Version control systems
Change authorization
Update procedures
Impact assessment

Retention & Disposition

Retention schedules
Archive management
Disposal procedures
Legal compliance

External documents:
External documents the system depends on — OEM manuals, regulatory codes, third-party engineering reports, contractor procedures — are identified, registered, and brought under the same control regime as internal ones.

"Access" is two-sided:
Access decisions cover both who can read a document and who can change it. The two are separate permissions and the system treats them that way.

7.6 Data and Information

                    Asset data and information are managed deliberately — they are the operating substrate of the system, not a by-product:
                

a Identify what data and information the asset management activity actually needs — at the level of decisions, not at the level of "everything we could capture"

b Specify each data set — attributes, units, quality expectations, and authoritative source — so the same field means the same thing across the business

c Plan how data is collected, integrated, improved over time, and shared across the people who need it

Where the data is used:
Decisions, risk management, legal and regulatory reporting, lifecycle management, and performance reporting all draw on this data layer. If a data set does not feed at least one of those, the cost of capturing it is hard to justify.

Data and Information Requirements

Asset Data

Asset registers and inventories
Condition assessment data
Performance measurements
Maintenance histories
Financial valuations

Operational Data

Production and utilization data
Reliability and availability metrics
Incident and failure records
Safety and environmental data
Energy consumption data

Management Data

Strategic planning information
Risk assessment data
Stakeholder requirements
Regulatory compliance data
Performance reporting information

Financial Data

Capital investment data
Operating cost information
Lifecycle cost models
Value assessments
Budget and forecast data

Data Specification Requirements:

Attributes

Define data characteristics, properties, and metadata requirements

Units of Measurement

Specify measurement units, scales, and standardization requirements

Quality Standards

Define accuracy, completeness, timeliness, and reliability requirements

Source Identification

Identify data sources, collection methods, and authority levels

Data Management Processes

What the data processes cover:
Acquisition, transformation, storage, control, sharing, archiving and eventual deletion — across each lifecycle stage of an asset. The same data field has different importance, retention and access requirements at design stage versus operations versus decommissioning.

Data Acquisition

Data collection strategies
Source system integration
Automated data capture
Quality assurance processes

Data Transformation

Data cleansing and validation
Format standardization
Data enrichment
Integration processing

Data Storage

Database management
Data warehouse solutions
Security and access control
Backup and recovery

Data Control

Version management
Change tracking
Audit trails
Governance processes

Alignment and Integration

Two requirements bridge finance and the technical asset world:

Information and terminology used by finance and by the technical functions reconcile — fixed-asset register, asset hierarchy, condition data, costs and depreciation all line up traceably

Where differences between financial and technical views are unavoidable — different scope, different valuation basis — those differences are documented, explained, and communicated, not papered over

Financial Integration

Asset valuation consistency
Cost allocation methods
Depreciation approaches
Investment evaluation criteria

Operational Integration

Performance metric alignment
Reporting consistency
Process integration
Data flow coordination

Terminology Alignment

Common data definitions
Standardized terminology
Glossary development
Translation protocols

Traceability Requirements

Data lineage tracking
Source documentation
Change history
Audit capabilities

Managing the deltas: Where financial and non-financial views of an asset diverge — different boundaries, different valuation rules, different update cadences — the divergences are recorded, the reason stated, and the recipients of each view know which is which. This prevents board reports and operational reports telling different stories about the same asset.

7.7 Knowledge

                    The knowledge needed to run the system is identified explicitly — process know-how, asset technical knowledge, regulatory understanding, supplier and contractor experience. Treating it as institutional memory only works until the people leave.
                

Processes are in place to:

Use the knowledge already in the organisation rather than re-discovering it

Make knowledge available at the moment of decision — not after the fact

Retain knowledge through staff turnover, restructures and retirement waves

Acquire new knowledge — through training, partnerships, recruitment, or technology

Identify and retire outdated knowledge before it produces bad decisions

Keeping knowledge current:
When the operating environment changes — new regulation, new technology, new failure modes, new market dynamics — the existing knowledge base is reassessed against what the organisation now needs, and the gap is closed deliberately rather than by drift.

Types of Asset Management Knowledge

Technical Knowledge

Asset design and engineering
Maintenance methodologies
Condition assessment techniques
Reliability engineering
Technology applications

Management Knowledge

Strategic planning approaches
Risk management methods
Decision-making frameworks
Performance measurement
Stakeholder management

Operational Knowledge

Operating procedures
Safety protocols
Emergency response
Troubleshooting guides
Best practices

Regulatory Knowledge

Legal requirements
Industry standards
Compliance procedures
Reporting obligations
Audit requirements

Knowledge Sources:

Internal Experience: Organizational learning, lessons learned, best practices
External Expertise: Industry knowledge, consultants, research institutions
Formal Education: Training programs, certifications, academic research
Practical Application: Hands-on experience, trial and error, experimentation
Collaboration: Knowledge sharing with partners, industry networks

Knowledge Management Processes

Knowledge Utilization

Knowledge access systems
Application guidelines
Decision support tools
Expert consultation

Knowledge Accessibility

Knowledge repositories
Search and retrieval systems
Expert networks
Just-in-time access

Knowledge Retention

Documentation processes
Knowledge capture methods
Mentoring programs
Succession planning

Knowledge Acquisition

Learning and development
External sourcing
Research and innovation
Collaboration networks

Handling Outdated Knowledge:

Regular knowledge review and validation

Update and revision processes

Obsolete knowledge identification

Archive and disposal procedures

Communication of knowledge changes

Knowledge Management Principle: Effective knowledge management ensures that the right knowledge is available to the right people at the right time for optimal decision-making

Knowledge Evolution and Development

Changing Requirements

Regulatory updates
Stakeholder expectations
Market demands
Technology advances

Emerging Trends

Digital transformation
Sustainability focus
Risk evolution
Innovation opportunities

Knowledge Gaps

Performance shortfalls
New challenges
Skill requirements
Technology needs

Learning Opportunities

Industry benchmarking
Research collaboration
Professional development
Innovation projects

Knowledge Development Strategies:

Update: Refresh existing knowledge with current information and practices
Develop: Build upon existing knowledge through research and analysis
Acquire: Obtain new knowledge through training, hiring, or purchasing
Access: Establish relationships and networks for knowledge sharing

Knowledge Evolution Best Practices:

Continuous Learning Culture: Foster an environment that values knowledge and learning
Knowledge Audits: Regular assessment of knowledge adequacy and gaps
Innovation Programs: Encourage experimentation and knowledge creation
External Partnerships: Collaborate with knowledge providers and networks
Knowledge Metrics: Measure and monitor knowledge management effectiveness

7. Support - Asset Management