“ISO 55000/1 are standards that define a management system for asset management. The focus of these standards is not the asset (in this case the data asset). Instead, its focus is on managing the value generated by and through the asset (to include data and data as an asset). This is an important nuance because it means the ISO 55000 standard series will not tell you how to manage data, it will only cover how data interfaces with asset management and thereby generates value for the organization.
ISO 55001 (2014) currently contains paragraphs that touch on the management of data in terms its support of asset management objectives – that is the management objectives for assets that are needed to achieve organizational objectives. They are: 7.5. – Information Requirements, and 7.6. – Documented Information. Furthermore, the word “data” is mentioned only twice in the body of the standard and not in context of requirements for its explicit management. I agree this is unsatisfactory and undervalues the importance of data as an asset and its role in asset management. Currently, ISO 55000/1 does not do a good job on how intangible (non-physical) assets are covered. Thankfully, this is not where this story ends.
The ISO Technical Committee (TC 251) that manages the ISO 55000 series is seeking to remedy this through updates and new standards planned to be released this year. These includes:
Update: ISO 55000 – Overview, Principles, and Terminology: introduces “data” as a technical term and integrates use of data in benefits of asset management.
Update: ISO 55001 – Asset Management System Requirements: Expands a subclause to cover Data and Information and adds another on Knowledge in clause 7. – Support. Also, it adds substantial new content on decision making and frameworks that will elevate recognition and prominence of data in support of asset management.
New: ISO 55012 – Guidance on People Involvement and Competence: Introduces and details the human-side of asset management knowledge and application that, given ISO 55000/1 expanded scope, is inclusive of data/information/knowledge management and their roles supporting achievement of asset management.
New: ISO 55013 – Guidance on the Management of Data Assets: Provides a detailed overview on data’s role in asset management and the management of data as an asset. Primary clauses herein are titled: Managing Asset Data, Delivering Value from Asset Data, Identifying Data Assets, Managing Data Assets, and Governance. This includes about 12 pages of content that will develop and reinforce the role data has in asset management and supporting value generating activities.”
(Source: Jack Dempsey – Linked In Feed 20240228)
