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ISO 55000 Asset Management in Theatre and Events

Keeping track of your assets is one thing. Using and looking after them effectively is where the real benefits come in.

What is ISO 55000?

ISO 55000 is a new international standard for asset management that helps you define your asset management behaviours, practices and process.

It is a best practice guide to consistently improving the way you utilise and maintain your equipment - efficiently reaching your strategic objectives.

How will ISO 55000 and trackingThis help me?

The standard will help you identify improvements across all of your asset management practices. trackingThis provides solutions that allow you to implement, control and report on those practices in a quick and cost effective way.

Here's a quick overview of what to expect:

Improve Financial Performance

  • Identify ways to increase ROI
  • Preserve asset value
  • Reduce costs

Inform Asset Investment Decisions

  • Identify recurring shortages
  • Evaluate cost over lifespan
  • Assess maintenance requirements and capabilities

Manage Risk

  • Enforce equipment standards
  • Define contingency plans
  • Reduce insurance premiums

Improve Services and Outputs

  • Increase equipment reliability
  • Streamline delivery and workflows
  • Provide detailed documentation on compliance and maintenance to clients

Demonstrate Social Responsibility

  • Evaluate environmental impact
  • Define polices for equipment purchase & disposal
  • Promote transparent business practices

Demonstrate Compliance

  • Collect full documentation as required by law
  • Collate audit documentation with ease
  • Prevent non-compliant asset utilisation

Enhance Reputation

  • Make services more reliable
  • Provide better reports to stakeholders
  • Educate workforce on asset management practices

Improve Organisational Sustainability

  • Improve quality of forecasting
  • Define processes that persist beyond key staff members
  • Manage short and long term effects

Improve Efficiency and Effectiveness

  • Continually improve processes
  • Engage entire organisation with feedback on asset management practices
  • Set better objectives and identify specific weaknesses

How can I learn more?

Asset Management is a significant discipline that promises great rewards but in arts, theatre and live events the objectives can be more complex. Examples and case studies don't apply like they do in traditional asset intensive industries. Once you accept these limitations then Google is a great resource. If you would like a more guided approach, please contact us. We would love to hear from you.