Impact of ISO 55000 on organisational performance: evidence from certified UAE firms
Research output: Contribution to journal › Article › peer-review
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In: Total Quality Management & Business Excellence, Vol. 32, No. 1-2, 02.01.2021, p. 134-152.
Research output: Contribution to journal › Article › peer-review
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TY - JOUR
T1 - Impact of ISO 55000 on organisational performance: evidence from certified UAE firms
AU - Alsyouf, Imad
AU - Alsuwiadi, Maitha
AU - Hamdan, Sadeque
AU - Shamsuzzaman, Mohammad
PY - 2021/1/2
Y1 - 2021/1/2
N2 - The purpose of this study is to investigate the impact of implementing the International Organisation for Standardisation asset management standard (ISO 55000) on organisational performance. In particular, does following the ISO 55000 requirements and recommendations affect organisational performance? This study investigates this issue by identifying relevant asset management key performance indicators (KPIs) through a comprehensive literature review and classifying these KPIs using the balanced-scorecard-framework. Then, the KPIs were validated by expert opinions through a questionnaire and non-parametric hypothesis testing. Finally, using the relevant KPIs, this study assesses the impact of ISO 55000 with a set of ISO 55000-certified companies in the United Arab Emirates. Hypothesis testing on the difference between the status of each KPI before and after ISO 55000 implementation used linguistic assessment and a sign test for two non-parametric dependent samples. According to industry experts, increasing market share is not a relevant KPI in asset management. However, ISO 55000 has a positive effect on all the identified perspectives (financial, customer, business processes, and learning and growth), indicating that organisations adopting ISO 55000 International Standard certification will be able to achieve better performance from the effective and efficient management of their assets. Consequently, investing in such systems is valuable
AB - The purpose of this study is to investigate the impact of implementing the International Organisation for Standardisation asset management standard (ISO 55000) on organisational performance. In particular, does following the ISO 55000 requirements and recommendations affect organisational performance? This study investigates this issue by identifying relevant asset management key performance indicators (KPIs) through a comprehensive literature review and classifying these KPIs using the balanced-scorecard-framework. Then, the KPIs were validated by expert opinions through a questionnaire and non-parametric hypothesis testing. Finally, using the relevant KPIs, this study assesses the impact of ISO 55000 with a set of ISO 55000-certified companies in the United Arab Emirates. Hypothesis testing on the difference between the status of each KPI before and after ISO 55000 implementation used linguistic assessment and a sign test for two non-parametric dependent samples. According to industry experts, increasing market share is not a relevant KPI in asset management. However, ISO 55000 has a positive effect on all the identified perspectives (financial, customer, business processes, and learning and growth), indicating that organisations adopting ISO 55000 International Standard certification will be able to achieve better performance from the effective and efficient management of their assets. Consequently, investing in such systems is valuable
M3 - Article
VL - 32
SP - 134
EP - 152
JO - Total Quality Management & Business Excellence
JF - Total Quality Management & Business Excellence
IS - 1-2
ER -