AMS Behavior: Support (6/7) - Data and Information

Asset Management System Behavior Miniseries

Data and information is the second to last topic in the Support bump-out in the Asset Management System (AMS) Behavior miniseries.  The draft ISO 55001 standard scheduled for release later this year updates the 2014 version subclause 7.5 – Information Requirements and extends it to include data and information.  In doing so, it shortens and simplifies the statement of requirements.  This is to streamline their application for a broader range of considerations.

The AMS Behavior sought regarding the management of data and information in the context of an AMS is the same as the approach detailed in the previous AMP Newsletter article on Documented Information.  That is, the approach to data and information is fundamentally risk based.  This means that data and information configuration and supporting management controls must be tailored to meet the needs of the AMS as a return on investment analysis.

In this context, one must identify and continually update data and information requirements that are needed to manage assets, operate the AMS, and support the organization’s approach to asset management.  These generic requirements only become meaningful when put into context.  This is how application of the Asset Management (AM) Framework, shown below, becomes critical. 

Asset Management Framework

Use of the AM Framework streamlines identification of data and information needs.  This starts with reverse engineering the AM Framework’s governing risk-informed resource and investment decision making processes.  The rest of this article will detail how this is done.  This approach systematically identifies data and information requirements in a way that can be scaled to the need and evolved as the organization matures its asset management capabilities.