IEC/TS 62775 – Implementing Asset Management Systems

IEC/TS 62775, “Application guidelines – Technical and financial processes for implementing asset management systems,” has  just been released.  This new Edition 1.0 provides the technical link between the ISO 5500x suite of standards on Asset Management and the IEC “dependability suite” of standards (e.g., IEC  60300-3-15, etc.).  It shows you how you use the technical details present in the IEC documentation to support the requirements of AMS (Asset Management System) processes.

What are the standards that are addressed in the IEC/TS 62775?  Of course, the main standards series is the ISO 5500x documentation set (like ISO 55001), which specifies the requirements to implement an AMS.  But it also refers to the ISO/IEC/IEEE 15288 which can be used to manage the technical and financial processes themselves.   And it shows you how to use the IEC dependability standard for the technical processes and activities that will be used within AMS.  Finally, it relates the IFRS (International Financial Reporting Standards) suite of financial standards to the actual processes you’ll use within AMS.

Why was the IEC/TS 62775 written?  It was developed because there is no place within the ISO 5500x standards that defines the actual information needed to implement the technical and financial processes that support the management of assets.  Since there are many issues involved in correctly managing assets, this standards brings in all the documentation components and describes how existing technical components can support the proper protocols required by IAS (International Accounting Standards).

The standard starts out with high level discussions of the requirements.  And it discusses each silo of standardization so you can understand how each will fit into your system.  Once you understand the place for each of the suites of standards, you’ll then want detailed information on how they map one to the other.  This is provided in the 3 Annexes.  First, Annex A covers the IFRS and IAS information that’s basic to any asset management scheme.  Annex B maps ISO 55001 to ISO/IEC/IEEE 15288, the actual AMS requirements to the system life cycle process.  And Annex C maps ISO/IEC/IEEE 15288 to the IEC dependability standards as well as to the IFRS and IAS standards themselves.  A 10-item bibliography provides you with details on each of the standards sets used in this publication.

In order to get a copy of this technical specification, you’ll want to use an authorized IEC distributor like Document Center Inc.  Of course, you can search for and order standards from a wide variety of jurisdictions at our webstore, www.document-center.com.  Here is a direct link to the order page for IEC/TS 62775 for your convenience.  It’s available in both paper format and for pdf download.  And of course, it can be included in our exterprise subscription solution, Standards Online.  To learn more about any of our products and/or services, or to place an order, contact us by phone (650-591-7600) or email (info@document-center.com).  We’ve been working with standards since 1982.  Make us your Standards Experts!

Published by

Claudia Bach

Claudia Bach is the President of Document Center Inc. and a world-wide recognized expert on Standards and Standards Distribution. You can connect with her on Google+

Leave a Reply

Your email address will not be published. Required fields are marked *