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Owner/Operator

The organization responsible for the ownership, operation and overall management of an asset or facility.

Definition

An Owner/Operator is the organization responsible for the ownership, operational control and overall management of an asset, facility or infrastructure throughout its lifecycle. The Owner/Operator establishes performance objectives, manages risks, ensures regulatory compliance and oversees maintenance, inspection and improvement activities, whether performed internally or by contracted service providers.

Why It Matters

The Owner/Operator is accountable for the safe, reliable and compliant operation of assets throughout their lifecycle.

In Practice

The Owner/Operator retains overall accountability for asset performance and regulatory compliance even when engineering, operations or maintenance activities are performed by external contractors or service providers.

Common Misuse

The Owner/Operator has overall responsibility for asset performance and compliance, whereas Original Equipment Manufacturers supply and support the equipment used within the facility.

Term Details
Synonyms:
Owner/Operator; Asset Owner; Facility Operator; Asset Operator
Classification:
Operations & Production
Concept
Intermediate
Applications

Asset Management; Operations; Business Management.

Where It's Used

Oil and gas.; Petrochemical.; Utilities.; Infrastructure.; Manufacturing.

References

ISO 55000

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