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What is Critical Asset

Chapter 11
Advanced Models and Tools for Effective Decision Making Under Uncertainty and Risk Contexts
Having potential to significantly impact on the achievement of the organization’s goals.
Published in Chapter:
55000 Implementation Proposal Integrated With a Risk Management System for a Water Utility Case
Pablo Zahera (University of Seville, Spain) and Vicente Gonzalez-Prida (Universidad Nacional de Educación a Distancia, Spain & University of Seville, Spain)
Copyright: © 2021 |Pages: 22
DOI: 10.4018/978-1-7998-3246-1.ch011
Abstract
The main objective of this chapter is to suggest a methodology for the application of ISO 55000 for a water utility in order to obtain all the benefits of asset management from the starting point of application. In addition, risk is an important part of this methodology, so it also complies with the clauses of ISO 31000. The methodology consists of six steps to be carried out: plan (1), implement (2), risk management (3), monitor (4), analyze (5) and make decisions and improvements (6). The application of this methodology is an iterative process in which the information obtained is going to be used in the previous and subsequent steps so that its benefits are greater as time goes by. At each point in the guide, the actions to be taken in compliance with the clauses and sub-clauses of ISO 55001 will be proposed along with some documents so that companies have a clearer idea of how to proceed.
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