Asset Management and the Game of Chess

ISO 55000 - In Practical Terms (Part 4)

This AMP Newsletter announce the release of Part 4 of our five-part Asset Management Framework (AMF) Journal series, “ISO 55000 – In Practical Terms,” first presented at the Doble 92nd International Conference in Boston, Massachusetts, March 2025. Titled “Asset Management and the Game of Chess,” this installment draws a compelling analogy between asset management and chess, illustrating how ISO 55000 and ISO 55001 enable coordinated, strategic decision-making in the energy sector.

Part 4 explores how an ISO 55001-compliant Asset Management Framework aligns diverse stakeholders—executives, operators, and end consumers—around a unified value chain. Using the metaphor of a chessboard, it introduces the Asset Management Communications Ladder, which links organizational and asset management objectives to reconcile stakeholder priorities, optimize resource allocation, and drive value. Tailored to the energy sector, this paper offers practical insights for utilities managing complex assets like power plants and grid infrastructure.

Why Read Part 4?
This journal entry demonstrates how ISO 55000 and ISO 55001 solve complex organizational challenges by:

• Aligning Stakeholder Objectives: The Asset Management Communications Ladder ensures that diverse stakeholder needs (e.g., CEOs, consumers, and technical teams) are harmonized, reducing conflicts and enhancing collaboration.

• Optimizing Decision-Making: By integrating ISO 55001’s framework, organizations can implement objective-driven decision-making, balancing risk, cost, and performance to maximize asset value.

• Driving Value in the Energy Sector: The chessboard analogy highlights how coordinated strategies improve reliability, safety, and efficiency for critical energy assets, addressing regulatory and operational complexities.

Series Overview::

• Part 1: Introduction, Managing Assets in the Context of Asset Management, ISO 55000 Origin Story – The “Why”

• Part 2: What is Important to Know for – ISO 55000 (Principles, Outcomes, Terms and Concepts, Maturity), ISO 55001 (Asset Management System (AMS) Requirements, Asset Management (AM) Framework, Objective-based Decision Making, Asset Management Knowledge)

• Part 3: Asset Management and Value Generation, Asset Management and Risk Management

• Part 4: Asset Management and the Game of Chess

• Part 5: Asset Management Optimization, Conclusion (coming next month)