Foundational AMS Implementation Principles

Asset Management System Implementation Principles Miniseries

AMP Newsletter articles for the first four Asset Management System (AMS) Implementation Principles have been released. These principles are used to stress test implementation of ISO 55000/1 conforming asset management systems. They provide short-cut, objective insights to determine if your organization’s AMS will be able to accelerate value generation.

The four foundational AMS implementation principles are:

• Data Integrity,

• Whole Life-Cycle Cost Analysis,

• Portfolio Management,

• Accounting Transparency.

These foundational principles establish precepts for a complete and effective AMS. They can also be called first principles. They define basic requirements and needs for impactful asset management - that is generating value from through the organization’s assets.

Organizations can use these principles to evaluate the scope of their AMS. The Whole Life-Cycle Cost Analysis and Portfolio Management Principles frame scope requirements for assets covered by the AMS. The Data Integrity and Ac…