ISO TC 251 Asset Management Plenary Session - Philadelphia - May 2023

The American Society for Testing and Materials (ASTM) and the US Technical Advisory Group (US TAG) on Asset Management hosted a plenary session of the ISO Technical Committee (TC) 251 in Philadelphia, Pennsylvania from May 8th to 12th, 2023. The purpose of this plenary was to review standards that are being developed. This was the first face-to-face meeting of ISO TC 251 since the start of the COVID pandemic. The previous face-to-face meeting was in Quito, Ecuador in November 2019.  Since this meeting ISO TC 251 started work to update three standards and initiated three others. Three and a half years later all six standards were balloted across the draft international standards (DIS) threshold in Philadelphia. This was a major achievement for the hundreds of people who contributed to their development. A synopsis of each is as follows:

• ISO 55000, Asset Management – Overview, Principles, and Terminology: This standard sets the stage for disciplined asset management and introduces a 'man…