ISO 55000: Overview of Asset Management with a focus on Industrial & Commercial Equipment

Learn the basics of asset management with an emphasis on the four phases of the asset lifecycle.

This webinar focuses on the basics of asset management to discuss key terms, principles, and terminology used in ISO 55000 standards. Emphasize will be placed on the four phases of the asset lifecycle; acquire, operate, maintain, and disposal. Facility operations have become more complicated than ever as the management’s focus shifted from production throughput to overall operational excellence. This has put significant pressure on the facility maintenance and reliability personnel as they now need to justify overall lifecycle cost of assets, extend operational life, and allocate the maintenance budgets in addition to meeting the day-to-day operational demands on their equipment. While some facilities have newer equipment to support their operations, most facilities are operating with assets that are about three to four decades old which require the right maintenance strategies in place to ensure that operation demands are met.

Learning objectives:

  • Key terms, principles, and terminology as defined in ISO 55000 Standards
  • Asset classification and benefits of asset management system
  • How to apply an asset management system in your organization
  • How to coordinate the various activities to maximize the value from your assets

Presenter Bio: Bhanu Srilla formerly the Director of Technical Marketing at Grace Engineered Products, Inc. Bhanu has over two decades of experience in power generation and distribution industry and has led diverse programs in electrical power distribution and control system projects in various IEC and ANSI applications for low and medium voltage systems. He is an IEEE member, and a member of Standards Technical Panel (STP) for UL 1436, UL 61010, UL 508, and 508A Standards. Bhanu is a certified electrical safety compliance professional (CESCP) by NFPA, certified maintenance and reliability professional (CMRP) by SMRP, Certified Reliability Leader (CRL), and holds advanced degrees in Electrical Engineering, Manufacturing Systems, and Technology Management.