Project Description
NiSource, one of the largest natural gas utility companies in the United States, partnered with Sargent & Lundy in 2024 to develop a comprehensive strategic asset management plan to obtain ISO 55000 certification. NiSource built upon the progress it achieved through the American Petroleum Institute Recommended Practice 1173 certification: Pipeline Safety Management Systems initiatives by proactively obtaining its ISO 55000 certification. The ISO 55000 is an international set of standards that aligns business objectives with asset management best practices. The standards require organizations to review performance through a risk-based approach to investment strategies promoting continuous improvement and fostering a culture of asset and change management.
Project Scope
Sargent & Lundy provided consulting services to help NiSource successfully earn its ISO 55000 asset management. The scope of work included:
- Developing NiSource’s strategic asset management plan.
- Defined asset classification.
- Created internal and external communication matrixes.
- Developed continuous feedback loop mechanisms.
- Supported transparency and engagement.
- Aligned plan with ISO 55000.
- Tied asset management goals to key performance indicators.
- Socializing the asset management system.
- Created visual aids, slide presentations, process flow diagrams, and clearly defined one-page summaries for distribution to internal and external stakeholders to support AMS and ISO awareness.
- Coordinating internal stakeholder interviews.
- Defined clear asset management goals.
- Identified roles and responsibilities.
- Addressed asset risk, capital planning process, and operations and maintenance planning process.
- Provided performance and maturity metrics across disciplines.
- Preparing and supporting the audit.
- Gathered evidence.
- Provided alignment analysis with ISO 55000 2024 revisions.
- Supported gap assessment.
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