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Information Management (Plan)

Types of Information
Information takes two primary forms:

The Information Framework
The framework has for facets.
  • Asset Information Strategy  -The strategy is intended to ensure that the organization’s asset information meets current and future requirements. The strategy therefore articulates the approach to the definition, control and overall governance of asset information. It defines an “end state” in terms of organization capability, along with the supporting rationale behind that end state. The strategy identifies the organization’s key stakeholders, their requirements, and the processes that will provide them with the information they need and then identify the data required to feed the processes.
  • Asset Information Standards - The standards ensure the asset information is collected, categorized, and provided to agreed levels and timescales; The standards ensure a consistent approach to creating/managing data. Processes for the management and governance of data and information
  • Asset Information Systems - The systems are the collection of processes, applications and technology, to automate asset management processes.
  • Data and information Management - This considers the requirements for data and information as the key enablers in undertaking both strategic asset management activities and operational activities.

LIfe Stages of Information
  • Creation of Information -This includes the identification, generation and collection of the organization’s data/information, some of which may be originate from internal or external sources.
  • Format of Information - This includes the standards for definition, classification and structure of the organization’s data for the purpose of ensuring appropriate quality, accuracy and reliability.
  • Storage of Information - This includes the use of methods to retain the organizations data/information in paper and/or electronic format in filing cabinets and/or computer servers. Storage may occur on-premises at the organization or appropriate off-premises.
  • Preservation of Information - This includes the means and methods to safeguard the organization’s data/information and the integrity of the data.
  • Access to Information - This includes the range of permissions granted to different stakeholders to be able to retrieve, view, analyze, and update the organization’s information.
  • Retrieval of Information - This includes the means and methods to gain access to the organization’s documents and server folders.
  • Distribution of Information - This includes the scope and intervals of dissemination of the organization’s data/information to its internal and external stakeholders, who are appropriately authorized.
  • Use & Analysis of Information - This includes the use and evaluation of the organization’s data so that it is transformed into information and the organization can make informed decisions.
  • Updating of Information - This includes the procedures for the control of changes to the organization’s information, including the editing, revising, cleansing and modification of the organization’s data/information
  • Disposal of Information - This includes the permanent deletion and removal of the organization’s data/information.
  • Controlling of Information - This includes the various means and methods to ensure overall stewardship of the data/information, including all the life cycle stage of the information from creation to storage to distribution to access to retrieval, use and preservation of the organization’s data/information.

Influencing Factors
The extent of the documented information for a organization’s asset management system is influenced by several factors, including:
  • The size of the organization
  • The type of activities, processes, products and services that the organizatin offers
  • The complexity of the organization’s processes and their interactions
  • The complexity of the organization’s assets

The Benefits of the IM plan
Listed below are some of the primary benefits of this initiative regarding the development of an asset information strategy:
  • Define the Boundaries of the Asset Management System - Having an agreed asset information strategy and a clear view of the “current state” enables the organization to understand the scale of the task in developing and administering the AMS.
  • Measure the Performance of Assets - Effective asset data management and the transformation of data to information is a key to measuring the performance of the organization’s assets.
  • Make Informed Decisions -  Appropriate quality data and information are key to the management of the organization’s assets. It provides support for the organization’s operational and strategic business decisions. Good asset information enables better decisions to be made, such as determining the optimal maintenance or renewal strategy. The information should inform decisions about how the assets are managed both for short term operational purposes and for long term strategic planning.

References in the ISO 55001 standard

  • 55000, 2.4.2b) - "Alignment includes… “the integration of the asset management processes with the functional management processes of the organization, such as finance, human resources, information systems, logistics and operations…”
  • 55000, 2.5.1 - “Asset management requires accurate asset information, but an asset management system is more than a management information system.”
  • 55000, 2.5.2c) - “The linkage of asset management information to financial information is an important contribution of the asset management system to the financial function.”
  • 55000, 2.5.2d) - “…some asset data comes from control systems, which are often isolated from other information systems. Integration of this data through the asset management system can provide new asset information, leading to improved organizational decision making”
  • 55000, - “Top management and leaders at all levels are responsible for ensuring that appropriate resources are in place to support the asset management system. These resources include appropriate funding, adequate and competent human resources, and information technology support.”
  • 55000, - “The asset management system provides information to support the development of asset management plans and the evaluation of their effectiveness. Asset information systems can be extremely large and complex in some organizations, and there are many issues involved in collecting, verifying and consolidating asset data in order to transform it into asset information. Creating, controlling, and documenting this information is a critical function of the asset management system.
  • 55000, - “Effective asset data management and the transformation of data to information is a key to measuring asset performance.”
  • 55001, 7.5 - ”The organization shall determine its information requirements to support its asset, asset management, asset management system and the achievement of its objectives”
  • 55001, 4.3 - “The scope [of the Asset Management System] shall be available as documented information.”
  • 55001, 5.2 - “The asset management policy… shall be available as documented information.”
  • 55001, 6.2.1 - “The organization shall retain documented information on the asset management objectives.”
  • 55001, 7.2 - “The organization shall… retain appropriate documented information as evidence of competence…”
  • 55001, 7.5a) - “The organization shall include consideration of… the impact of quality, availability and management of information on organizational decision making”
  • 55001, 7.6.1 - "The organization’s asset management system shall include: documented information as required by this International Standard; documented information for applicable legal and regulatory requirements; documented information determined by the organization as being necessary for the effectiveness of the asset management system".
  • 55001 - The organization shall ... keep documented information to the extent necessary to have confidence and evidence that the processes have been carried out as planned;
  • 55001 - Documented information of external origin determined by the organization to be necessary for the planning and operation of the asset management system shall be identified, as appropriate, and controlled.

Sources of Information
Listed below are some of the primary sources on asset management information that are available to the organization
  • Field
  • Drawings
  • Consultants or contractors

Procedures to gather/elicit information

Classification of Information

  • Alphabetical
  • Chronological
  • Thematical

  • Financial
  • Legal
  • Technical
  • Logistical

Standards of Info. Mgmt

  • Quality
  • Quantity

Techniques of Info Mgmt

Information Technology
The use of computers and other electronics to assist with the effective stewardship of the assets.

See also:

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