What is ISO 55037:2018?

ISO 55037:2018 is an international standard that provides guidelines for documenting the knowledge associated with managing assets. It was developed by the International Organisation for Standardisation (ISO) and is applicable to all types of organizations, regardless of their size or industry. This standard aims to ensure that critical knowledge related to assets is effectively captured, managed, and shared within an organization.

The Importance of ISO 55037:2018

One of the key reasons why ISO 55037:2018 is important is because it helps organizations preserve vital knowledge regarding asset management. In today's rapidly changing business environment, employees come and go, taking valuable knowledge and expertise with them. This standard assists in mitigating the risks associated with knowledge loss, ensuring that crucial information is retained and can be accessed by current and future employees.

Moreover, ISO 55037:2018 enhances decision-making processes within an organization. By documenting and organizing asset management knowledge, companies can make informed decisions, improve productivity, and ultimately achieve better financial outcomes. This standard also promotes effective communication between departments, enabling a more cohesive approach to asset management.

Implementation of ISO 55037:2018

Implementing ISO 55037:2018 involves several steps. Firstly, organizations need to identify the knowledge that needs to be documented, considering factors such as criticality, availability, and relevance. Once identified, this knowledge should be captured through standardized methods such as interviews, documentation analysis, and workshops.

The next step is to organize and manage the captured knowledge. This may involve creating a central repository or knowledge database, where information can be easily accessed and updated. It is essential to have a well-defined structure and classification system to ensure that the knowledge is categorized effectively.

Finally, organizations should establish processes and procedures for sharing and reusing the documented knowledge. This may include training programs, internal communication channels, and engagement with stakeholders at all levels of the organization.

In conclusion

ISO 55037:2018 is a valuable standard that helps organizations manage and preserve their asset management knowledge. By implementing this standard, companies can mitigate the risks associated with knowledge loss and improve decision-making processes. It also promotes effective communication and collaboration between departments, leading to better overall asset management practices.