What is EN ISO 31070:2018?

EN ISO 31070:2018, also known as "Asset management -- Management systems -- Guidelines for the application of ISO 55001," is an international standard that provides guidance on implementing effective asset management practices. It is part of the ISO 55000 series, which focuses on asset management principles, requirements, and guidelines.

The Key Components of EN ISO 31070:2018

This standard outlines several key components that organizations should consider when implementing an asset management system:

1. Leadership and commitment: This component emphasizes the importance of senior management's involvement in establishing a strong asset management framework within the organization. It highlights the need for clear roles and responsibilities, as well as the provision of necessary resources, to achieve effective asset management.

2. Policy and strategy: EN ISO 31070:2018 emphasizes the development of an asset management policy and strategy aligned with the organization's objectives. This includes considering risk assessment, performance measurement, and reviewing the policy regularly to ensure its effectiveness.

3. Planning: This component focuses on developing plans and processes for various aspects of asset management, including identifying asset-related risks, determining resource requirements, and setting performance objectives. It also stresses the importance of integrating these plans with other organizational strategies.

Benefits of Implementing EN ISO 31070:2018

The implementation of EN ISO 31070:2018 can provide numerous benefits to organizations:

1. Improved decision-making: By following this standard, organizations can gain a comprehensive understanding of their assets, leading to better decision-making regarding maintenance, replacement, and investment options. This enables optimal asset performance throughout their lifecycle.

2. Enhanced risk management: EN ISO 31070:2018 promotes a systematic approach to managing asset-related risks. This allows organizations to identify potential risks, assess their impact, and implement appropriate controls to mitigate them effectively. By proactively managing risks, organizations can minimize downtime, avoid costly repairs, and ensure operational continuity.

3. Increased asset reliability and efficiency: Implementing this standard facilitates proper maintenance planning, ensuring that assets are well-maintained and available when needed. It also supports continuous improvement efforts by promoting effective asset performance monitoring and optimization.

Conclusion

EN ISO 31070:2018 provides organizations with valuable guidelines for implementing a robust asset management system. By following these standards, organizations can improve decision-making, enhance risk management, and increase asset reliability and efficiency. Ultimately, it helps organizations optimize their asset performance and achieve their objectives effectively.