The Asset Management Paradox

The management system standard ISO 55000 – Asset Management – Overview, Principles, and Terminology contains an interesting paradox.  It states that: “Asset management does not focus on the asset itself, but on the value that the asset can provide to the organization”.  How can this be – asset management does not focus on assets..?

To begin, let’s think about what a paradox is and why they are interesting.  A paradox is a statement or circumstance that seems contradictory yet may still be true.  Paradoxes are interesting because they define something that can be true and untrue at the same time.  A paradoxical statement is used to challenge assumptions to help us think differently, be creative.  Whether intended or not, that is exactly what this ISO 55000 paradoxical statement does.  Asset management is and is not about assets at the same time.

ISO 55000 introduces a disciplined way to think about the management of assets.  This leads to ISO 55001 – Asset Management – Management Systems…