AMS Behavior: Performance Evaluation

Asset Management System Behavior Miniseries

This miniseries focuses on Asset Management System (AMS) behavior.  The study of behavior evaluates patterns in how someone reacts to their operating environment.  Organizations also have patterns in behavior and often greater control in shaping their operating environment.  The ISO management system viewpoint calls this operating environment the context.  All ISO management system standards, to include the ISO 55000 – Asset Management series, are used to shape the organization’s context and improve performance.

Organizations become interested in asset management through realization that better asset management leads to better outcomes – see Asset Management is All About Outcomes for more on this.  From an asset management perspective, the purpose of an asset is to generate value supporting the achievement of Organizational Objectives.  The means to do this is a discipline called asset management that employs a management system approach having specific performance evaluation activities - see Asset Management System Thinking Implementation for more on this. 

Asset management, as a discipline, does not focus on managing assets, but on managing the value generated from and through assets.  Therefore, performance of asset management distills to an organization’s ability to coordinate the activities that generate value from and through assets. This requires a disciplined, configured approach for performance evaluation.

An AMS is the means use to implement asset management and shape its operating context.  Implementation of an AMS is facilitated through an Asset Management (AM) Framework, such as the one shown below: 

Asset Management Framework

AMS behavior related to performance evaluation covers:

• Asset Life Cycle Management,

• Asset Portfolio Management,

• Management of the Asset Management System (includes policy, objectives, processes, and IT enablement), and the

• Organization’s Approach to Asset Management (includes change management): 

AMS performance evaluation discipline and configuration covers the following activities:

• Monitoring, Measurement, Analysis, and Evaluation (ref ISO 55001: 9.1.)

• Internal Audit (ref ISO 55001: 9.2.)

• Management Review (ISO 55001: 9.3.)

The associated AMS behaviors are as follows: