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An Intangible Asset Management Proposal based on ISO 55001 and ISO 30401
for Knowledge Management
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5 authors, including:
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Optimización de la Gestión del Mantenimiento y Análisis crítico de Indicadores de Benchmarking bajo el enfoque integral de la Gestión de Activos (ISO 55000). View
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All content following this page was uploaded by Carlos Parra on 14 July 2021.
e-mail: ajguillen@us.es
3 University of Seville, 41092 Seville, Spain
e-mail: parrac@ingecon.net.in
4 University of Seville, 41092 Seville, Spain
e-mail: eduardocandon@gmail.com
5 University of Seville, 41092 Seville, Spain
e-mail: pablomgf93@gmail.com
2 WCEAM2021, 040, v2 (major): ’An Intangible Asset Management Proposal based on ISO . . .
value. Finally, connections to risk and uncertainty references, the digitalization in-
dustry process, as well as to possible future research lines are commented as a con-
clusion.
1 Introduction
According to ISO 55000 [1], an asset is something that has potential or actual
value to an organization. That means in other words, an item that has the capability
to impact in the company throughout its full lifecycle. Every company will decide
what an asset is and will set priorities accordingly. This is important to start men-
tioning since, according to this definition, an asset may be a tangible element (like
manufacturing equipment, testing tools, etc.), but it may be as well an intangible
element (like knowledge, human resources, competences, etc.). Together with the
concept of asset, it is commonly define the term of asset management. This term
will refer to all those coordinated activities of an organization with the aim of real-
izing value from its assets. According to the kind of asset (tangible or intangible),
the corresponding management will not be necessary the same. However, there will
be main lines that can be similar.
Nowadays, there are standards that help organizations to manage their different
systems. In particular, the ISO 55001 [1] helps to manage assets. That standard does
not specify if such assets have to be tangible (physical) elements or not. Neverthe-
less, organizations usually apply this standard to manage their physical assets. On
the other hand, It has been recently published the ISO 30401 [2] that refers to the
establishment of a knowledge management system. As any other management sys-
tem defined by the ISO, it follows too the well-known PDCA (Plan-Do-Check-Act)
cycle, also named Deming Cycle. In general, terms, Asset Management based on
ISO 55000 [1] helps to respond to specific questions and supports the decision-
making according to gathered data. In this sense, these questions are like the fol-
lowing ones:
What is the Asset portfolio?
How important are these assets for the company?
Are the resources efficiently assigned for each asset?
How much will the assets cost during their whole life cycle?
How are the assets linked to the business goals?
In order to respond to these questions, organizations apply a set of methodologies
like Criticality Analysis (CA); Reliability Centered Maintenance (RCM); Reliabil-
ity, Availability, Maintainability and Safety Analysis (RAMS), Life Cycle Cost
Analysis (LCCA), among many others. As commented, organizations usually apply
these methodologies in a cyclical way following a kind of PDCA or Deming cycle,
in order to manage their physical assets with a continuous improvement back-
ground. In others words, asset management demand the accurate definition of asset
WCEAM2021, 040, v2 (major): ’An Intangible Asset Management Proposal based on ISO . . . 3
concept and the use of analysis tools in order to extract information. Such infor-
mation is that one required for the decision making and for the provision of support
to the management function. In terms of decision making model, an asset is a para-
metric representation of an element that provides value to a system or organization.
This kind of management can be applied for intangible asset in a similar way as
physical asset. In this sense, considering intangible asset as knowledge, through the
definition of management system, it will respond to questions like:
What knowledge is required? Why?
How can knowledge be measured and parameterized? How can a
knowledge asset portfolio be define?
Who has / where is this knowledge available?
How important is that knowledge?
How efficiently is the organization using its knowledge?
How is this knowledge protected and developed?
What is the added value of this knowledge to the business strategy?
According to the ISO 30401 [2], knowledge management will refer to the com-
bination of processes, actions methodologies and solutions that enable the creation,
maintenance, distribution and access to organizational knowledge. Consequently,
the corresponding management system will be that set of interrelated or interacting
elements of an organization that establish, embed and enable the knowledge man-
agement policies and objectives, as well as the processes to achieve those objec-
tives.
In addition to this, that standard compiles a set of other definitions. Among them,
there is the concept of Competence, which is defined as the ability to apply
knowledge and skills in order to achieve intended results for the organization. Of
course, such intended result has to be aligned with the organization’s strategy. Other
definition to competence can be found in the DoD Instruction 1400.25 [3], where it
is depicted as an observable, measurable pattern of knowledge, skills, abilities, be-
haviors, and other characteristics needed to perform work roles or occupational
functions successfully. In any case, added to this concept, the standard specifies
which may be the core competences, as well as the model and framework where
these competences have to be described and structured. As a remark to the standard,
the ISO 30401 [2] is probably quite focused on competences related to human re-
sources, where it is supposed that the company knowledge stays. However, it is
important to underline as well that knowledge may rely in documental repositories
too, and must be taken into account that in the next generation (or even today), much
of these competences will belong to AI .Knowledge and competence definition, to-
gether with management are experimenting a revolution as a consequence of digital
transformation, especially, the AI development.
4 WCEAM2021, 040, v2 (major): ’An Intangible Asset Management Proposal based on ISO . . .
Back to the general asset management system, any asset management framework
will have to consider the business context. That refers to those company’s strategy,
policies, objectives, plans, but also the activities to do.
Similarly to the physical asset management, in this case it will be needed to de-
termine a specific intervention level. That means that the organization should have
to consider as much as possible the following aspects before defining a knowledge
management framework:
Business processes and their respective tasks
Knowledge suitable for performing such tasks
Importance of each knowledge item
Knowledge available in the company (documents)
6 WCEAM2021, 040, v2 (major): ’An Intangible Asset Management Proposal based on ISO . . .
Figure 1: Identification of what the company should have, and what the company
really has
WCEAM2021, 040, v2 (major): ’An Intangible Asset Management Proposal based on ISO . . . 7
Figure 4: Methodology for prioritisation of key skills and competences for the
EDTIB [5].
8 WCEAM2021, 040, v2 (major): ’An Intangible Asset Management Proposal based on ISO . . .
Once identified the core competences for the business, and the existing re-
sources, not only in the company, but also in the labor market. In that sense, Figure
5 presents a detailed map of skill’s criticality and availability as identified by the
Defence Growth Partnership (DGP) Skills Survey [5]. As depicted in such refer-
ence, the bubbles represent the scale of the ‘critical skills issue’ as a proportion of
the overall response. In that survey, criticality is understood in terms of the ability
of companies’ to meet their business needs within the labor market.
The above analysis will be useful in order to align competences and resources.
Such alignment will be obtained applying a kind of action plan where competences
and resources requirements have to be depicted. In other words, the company will
find core competences with a gap in resources, and existing resources that do not
match with the desired competences. The matching between competence plan and
resource requirements will need the application in the Human Resources (HR) area
of change management technics, in terms of training and/or rotating the staff, or
acquiring the knowledge from the labor market. It will suppose to the employees
(technicians, managers, etc.) an incremental and transformational change. A possi-
ble process for non-core competences is suggested in figure 6
10
11
agement system. Therefore, this is just an example of the process related to the pro-
posed knowledge management framework. Nevertheless, there are of course others
found in the literature (for example: [6], [7]), together with interesting analysis and
study cases that link asset management (in the traditional way) with aspects related
to knowledge and other intangible elements ([8], [9], [10] or [11] among others).
All the commented phases will require to gather data and to analyze them in order
to get conclusions that helps to improvement de knowledge management system
itself. Nowadays, there are many easy-to-use tools that can aim and support all this
process, since new business intelligence platforms may provide significant and dis-
ruptive tools helpful to the proposed framework.
“Knowledge is power” has become a common but true cliché in all areas of industry.
In the knowledge economy, there is a consensus that this intangible asset is one of
the main resources for wealth creation in companies. Therefore, it seems to be cru-
cial that companies have to manage their knowledge in order to obtain the maximum
possible added value. Of course, all organizations manage their knowledge, alt-
hough not all of them always managed it optimally. Due to that reason, this docu-
ment has presented a management framework based in already well-known stand-
ards like the ISO 55001 for asset management and the ISO 30401 for knowledge
management. In addition to that, this contribution has adapted the methodology de-
picted for physical assets, in order to be useful to prioritize competences, check if
they are aligned with the existing resources and to fulfil the gaps by training, relo-
cating or acquiring new resources. Basically, those companies that are aware on
how to manage efficiently their knowledge are in a better competitive situation.
References
[1] ISO 55001:2015. Asset management — Management systems — Require-
ments. International Organization for Standardization
[2] ISO 30401:2018. Knowledge management systems — Requirements. Interna-
tional Organization for Standardization
[3] DoD Instruction 1400.25, Volume 250, Civilian Strategic Human Capital
Planning, November 18, 2008
[4] Crespo A. (2007). The maintenance management framework: models and
methods for complex systems maintenance. Springer Science & Business Me-
dia. DOI: 10.1007/978-1-84628-821-0. ISBN 9781846288210
[5] Retter L., Taggart L. and Freeman J. (2015). Executive Summary. Key Skills
and Competences for Defence. EDA contract reference: 14.CPS.OP.030.
RAND Europe RR-1226-EDA
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[6] Kriege L.K., Jooste J.L. & Vlok P.J. (2016). A framework for establishing a
human asset register for the improved management of people in physical asset
management. South African Journal of Industrial Engineering. Vol 27(4), pp
77-89. DOI: 10.7166/27-4-1549
[7] Colakoglu, S., Hong, Y. & Lepak, D.P. (2010). Models of strategic human
resource management. In: Wilkinson, A., Bacon, N., Redman, T. & Snell, S.
(Eds.) The SAGE handbook of human resource management. SAGE Publica-
tions.
[8] Kriege, L. & Vlok, P.J. 2015. Human resources within ISO 55000 — The hid-
den backbone to the asset management system. In: Amadi-Echendu, J.,
Hoohlo, C. & Mathew, J. (Eds.) 9th WCEAM Research Papers. Springer, pp.
435–446
[9] Blair, M.M. (2011). An economic perspective on the notion of human capital.
In: Burton-Jones, A. & Spender, J.-C. (Eds.) The Oxford handbook of human
capital. Oxford University Press, pp. 49-70.
[10] Amadi-Echendu, J. (2010). Behavioural preferences for engineering asset
management. Definitions, Concepts and Scope of Engineering Asset Manage-
ment, 1(1), pp. 347–355.
[11] Maheshwarkar M. and Sohani N. (2016). Evaluation of Knowledge Manage-
ment Levels Based on Multi Criteria Analysis. Management Science and En-
gineering. Vol. 10, No. 2, 2016, pp. 5-23. DOI:10.3968/8561. Canadian Re-
search & Development Center of Sciences and Cultures. ISSN 1913-0341