The Asset Management Process Reference Model for Infrastructures

Asset management is a concept that has a very wide range of use across industrial sectors and regions, often with different levels of maturity. Standards like PAS55-1 and its successor ISO 55001 have been developed as a form of guidance on what should be in place to qualify as an asset manager. However, those standards only prescribe what needs to be in place, not how these requirements should be fulfilled. In part, this is a good thing as the best approach to asset management varies amongst organizations. Yet, in implementing asset management many organizations struggle with the how. This is especially true for infrastructures, as the most difficult part of asset management is dealing with risk and risk is even more important for infrastructures than for other asset bases. The guidelines for application of the standards shed some light, but often not enough. A stronger guideline in the form of a reference model is needed. In this paper we describe a reference model for the asset management system that fulfills the requirement in an infrastructure context. This reference model is the result of some 15 years of developing and implementing asset management in a variety of infrastructures.