EXPLORING THE IMPLEMENTATION OF ISO 55001 ASSET MANAGEMENT SYSTEM IN SMALL-TO-MEDIUM WATER UTILITIES IN GREECE: STRENGTHS, WEAKNESSES, AND IMPLICATIONS

The purpose of this study is to explore the implementation of ISO 55001 Asset Management System in small-to-medium water supply and sanitation utilities in Greece, with a focus on identifying their strengths and weaknesses in implementing the standard and discussing the managerial and policy implications of these findings. This study used a qualitative strategy in the form of a multiple case study, where eight experienced experts involved in asset management activities from four small-to-medium water utilities were interviewed. The study used the ISO high-level structure as a suitable study framework for the research. The findings provide encouraging evidence that smaller organizations are interested in genuinely substantial implementation of an asset management system, preferably a simple one that better fits their needs and capabilities, in accordance with the ISO 55001 standard. Moreover, the findings show that while smaller organizations face challenges such as lacking resources, bureaucracy, a short-term mentality, and political constraints, they possess key strengths, such as extensive experience, a commitment to asset management best practices, and an adaptive and innovative culture. The study's findings have significant managerial implications for small organizations striving for enhanced asset management practices.