| dc.description.abstract | Historically, physical and financial assets were accepted to be the fundament of personal and corporate wealth and power. It was all about keeping buildings and equipment maintained. The primary goal was to keep production profitable and earning money. However, many factors, such as technological development, environmental awareness, market conditions, human rights, and government regulations raised a need for coordinated and effective asset management practices. Publication of the PAS55 and ISO 55000 suite was the first deliberate steps of the international asset management community towards utilization of coordinated, integrated and not least, internationally accepted asset management practices. ISO 55000 suite became a framework for further development and improvement of the physical asset management practices worldwide. Implementation of asset management practices and application of ISO 55000 suite for physical asset management brought great value to organizations in the form of improved performance, efficiency and effectiveness, risk management, decision making processes and compliance with regulations.
Constant aim for competitive advantage in the world accelerated the development of information technology and led to new trends called “digitization” and “digital transformation”. Already in 2007, 94% of the world’s information storage was in digital format. All intangible and intellectual property assets, such as trade secrets are being stored in a digital format. Industrial espionage is not about stealing papers anymore, it is about stealing digital data and information. It is becoming clear that knowledge, competence and intellectual property are becoming the most significant factors for success and competitive advantage. A new type of assets – digital assets are becoming an essential part of every company
However, how do organizations manage their digital assets? What kind of framework can be applied for digital asset management? Are digital asset management concepts, frameworks and practices as developed as for physical assets?
ISO 55000 (2014, p.1) creators highlight that the standard was predominantly developed for managing physical assets, but it can also be applied to other asset types. In that case, it would be interesting to evaluate the application of ISO 55000 suite for digital asset management.
The main aim of this thesis is to the evaluate application of ISO 55000 suite (2014) for digital asset management. Evaluation is done by assessing and mapping the digital asset management practices in Baker Hughes, GE Company (BHGE) against recommendations and requirements of the ISO 55000 suite (2014). The thesis provides an overview of digital asset management practices in BHGE with regards to the requirements of ISO 55001 (2014). As a part of the thesis work, the subjects of asset and digital asset; asset management and digital asset management have been explored by an extensive review of literature and the internet.
This thesis has contributed to the understanding of digital asset management topic and research with regards to the application of ISO 55000 suite (2014) for digital asset management. Organizations can, in general, assess the maturity of their digital asset management practices by utilizing the evaluation method described in this thesis. | nb_NO |
