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Introduction to Asset Management Read chapter Read first chapter

2021 | OriginalPaper | Chapter

28. Performance, Audit and Review

Author : Nicholas Anthony John Hastings

Published in: Physical Asset Management

Publisher: Springer International Publishing

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Abstract

Aim: The aim of this chapter is to introduce and to give examples of indicators of asset performance and to discuss auditing and review of the asset management system itself.
Outcomes: After reading this chapter you will be aware of the role of performance indicators and of some of the factors to consider in creating and applying them. You will have available some examples of performance indicators in specific applications. You will be aware of the need for audit of the asset management system and the requirement for review of the system to ensure its continuing effectiveness.
Topics:
  • Key performance indicators
  • Railway systems
  • Water supply systems
  • Electricity supply systems
  • Overall equipment effectiveness
  • Maintenance-related performance indicators
  • Audit of the asset management system
  • Management review.

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previous chapter Further Financial Topics
next chapter ISO 55000 Series Standards
Footnotes
1
ISO 55001 Clause 6.2.1 Asset management objectives: “The organization shall establish asset management objectives…”.
 
2
ISO 55002 Clause 9.1.1.3. “A set of performance indicators should be developed to measure asset management activity and its outcomes.”.
 
3
ISO 55001 clause 9.2 Internal audit: “The organization shall conduct internal audits…”.
 
4
ISO 55001 clause 9.3 Management Review: “Top management shall review the organization’s asset management system at … intervals…”.
 
Metadata
Title
Performance, Audit and Review
Author
Nicholas Anthony John Hastings
Copyright Year
2021
Book
Physical Asset Management

Print ISBN: 978-3-030-62835-2

Electronic ISBN: 978-3-030-62836-9

Copyright Year: 2021

DOI
https://doi.org/10.1007/978-3-030-62836-9_28