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Improving Asset Management under a regulatory view

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  • Lima, Eliana Sangreman
  • Costa, Ana Paula Cabral Seixas

Abstract

Organizations from all sectors of the economy have been using ISO 55000:2014 Asset Management standard with the objective to better manage their assets. This is in order to obtain the various benefits of structuring and improving the AM process which includes the enhancement of the efficiency and effectiveness of the assets. Multi-asset organizations that are strongly regulated need instruments to support the decision on which structuring requirements are essential in order to contribute to compliance with the regulatory framework of the sector in which they operate in. To meet this purpose, this paper presents the Regulation-Oriented Model for Asset Management AM-RoM, which embodies a joint analysis of ISO 31000:2018 and ISO 55001:2014. The AM-RoM encompasses a multi-criteria decision method to rank the most critical requirements, based on experts' perceptions. Its relevance goes to the contribution for organizations in the process of inducing improvement and increasing the maturity level of the AM process, while being in compliance with the Regulatory Framework. The validation of the AM-RoM was performed in a Brazilian company of the Electric Energy Transmission Sector.

Suggested Citation

  • Lima, Eliana Sangreman & Costa, Ana Paula Cabral Seixas, 2019. "Improving Asset Management under a regulatory view," Reliability Engineering and System Safety, Elsevier, vol. 190(C), pages 1-1.
  • Handle: RePEc:eee:reensy:v:190:y:2019:i:c:18
    DOI: 10.1016/j.ress.2019.106523
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    References listed on IDEAS

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    5. Koop, Christel & Lodge, Martin, 2017. "What is regulation? An interdisciplinary concept analysis," LSE Research Online Documents on Economics 62135, London School of Economics and Political Science, LSE Library.
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    7. Damjan Maletič & Matjaž Maletič & Basim Al-Najjar & Boštjan Gomišček, 2018. "Development of a Model Linking Physical Asset Management to Sustainability Performance: An Empirical Research," Sustainability, MDPI, Open Access Journal, vol. 10(12), pages 1-20, December.
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