What is an asset management system?
Asset management covers the entire life cycle of assets and stands for the systematic and coordinated management of an organization’s assets with the objective of value creation.
Asset management is a relatively young discipline. The focus is on the experiences collected in industry since the mid-1980s, which were incorporated in the ISO 55000 standard created by the International Organization for Standardization in 2014.
The TÜV Hessen PROFiCERT-plus “tested asset management system” process is based on fundamental elements of the quality management standard ISO 55000 “Asset Management - Overview, Principles and Terminology.”
The assets examined are mainly of a physical nature. They include:
- Real estate
Intangible assets are also considered, such as:
- Knowledge and experience
- The image of the organization
The certification procedure – consisting of document inspection in advance and a subsequent on-site company audit – entails a check and assessment of the company goals, documentation, employee development, customer feedback and internal audits.
What are the advantages of an asset management system?
The introduction of an asset management system enables:
- Systematization of the central processes
- Definition of responsibilities
- Consideration of the main risks during planning
This system can be adapted to local needs or scaled in accordance with the scope required.
The benefits of the asset management system become apparent in day-to-day use. It is therefore vital that the system is applied and developed in the organization. In this context it is helpful to use the certification and auditing processes familiar from quality management (ISO 9001) among others. With the certificate, an organization can demonstrate both internally and externally that it has all aspects of its business under control. In addition to increasing creditworthiness when raising the necessary budget, it also enhances the professional status of the engineers, administration specialists and technicians involved.
How long is the certification valid?
The TÜV PROFiCERT-plus certificate for a tested asset management system is awarded upon successful completion of the certification process. It is valid for three years and must be confirmed every year by a monitoring audit.