Conference Proceedings (Industrial Engineering)

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Mitigating delays in the operations of a business entity when converting to the ISO 55000 standard
(South African Institute for Industrial Engineering, 2014) Botha, Louis Jona; Vlok, P. J.
ENGLISH ABSTRACT: Existing business entities often employ their own operational procedures and guidelines regarding asset management. However, converting to the ISO 5500X standards can adversely affect the operational performance of these business entities. Most of these pre-existing asset management systems possess some degree of operational inertia. This operational inertia can lead to delays when change is introduced. These delays could also discourage further adoption of the ISO 5500X standards. This study sets out to describe a method that identifies sources of substantial delays within an asset management system, specifically those originating from converting to the ISO 5500X standards. The identification of these sources is achieved through the use of mathematical modelling methods. The aforementioned information can lead to appropriate planning prior to the conversion to the ISO 5500X standards. If potential delays are identified, they can be pre-emptively mitigated with said plan, thus ensuring minimal reduction in operational performance.