Advancing asset management with ISO 55001
Cohesive’s asset management expertise helps renewable energy organisation reach accreditation standard.
The Challenge
A major infrastructure investor and driving force behind Ireland’s transition to renewable energy prioritizes continual investment in its assets. For the 800-employee organization with a $2 billion turnover, its ability to deliver energy services depends on maintaining asset reliability and prolonging asset life.
Like all energy industry leaders, the organization continually seeks to reduce risk. They knew rigorous asset management is a hallmark of high-performing organizations, driving efficiency, reducing downtime, and building business resilience. It can also boost financial performance and ensure outstanding customer service.
However, the business’s Enterprise Asset Management solution, IBM Maximo, had been implemented by a third party without a supporting strategy. Consequently, the organization had not fully realized its anticipated benefits and struggled to demonstrate compliance with industry standards such as ISO 55001.
To build trust, the company wanted to show customers, regulators, investors, and other key stakeholders that its asset operations align with international best practices. Therefore, they set out to fulfill a key aspiration regarding its physical asset management: securing ISO 55001 accreditation.
Our Solution
The energy organization partnered with Cohesive, a member of the Institute of Asset Management and an accredited endorsed assessor, to achieve ISO 55001 accreditation.
Our team of technology experts and professionals with detailed operational knowledge worked with the organization’s internal team to accomplish the goal.
Although its asset portfolio is diverse—including wind farms, combined cycle gas turbine (CCGT) plants, and a 50MW battery storage facility—the company prioritized accreditation for one key site.
Cohesive’s technology-agnostic approach began with a compliance gap assessment, which led to the development of a roadmap precisely tailored to the business’s needs.
An initial workshop brought together key parties to discuss the organization’s goals, challenges, and ambitions regarding accreditation and its broader asset management strategy.
Our team reviewed and evaluated the existing asset management system documentation, policies, and procedures. We conducted onsite and virtual interviews with relevant team members and identified potential gaps and non-conformities that required attention.
Working closely with the organization’s internal team, we helped them prioritize necessary tasks and develop a roadmap with clear implementation targets and ownership.
The Results
Following an accreditation assessment by an independent third party, the plant successfully received ISO 55001 accreditation. As an endorsement of asset management practices, the standard provides confidence to customers, partners, investors, and other stakeholders that the energy organization is managing its assets appropriately to reduce risk.
By aligning with international best practices, they have enhanced their reputation as a well-run, efficient, and trustworthy organization.
Accreditation was not the end of this organization’s commitment to asset management excellence, however. Cohesive delivered a framework to facilitate continuous improvement, maximize output, and lower costs. This assessment and roadmap process equipped them with a comprehensive understanding of asset management challenges and effective strategies to overcome them, avoid downtime, and lower risk.
