ISO 55001 Asset Management

Asset management involves a strategic, long-term approach to the construction, development, operation, maintenance, servicing and disposal of organizational assets. Asset management can refer to any system that monitors, maintains, and realizes the value of something – tangible or intangible.

The aim of ISO 55001 is to provide a systematic, coordinated, and integrated approach to the management of assets, supporting the achievement of an organization’s corporate objectives.

The standard is already being adopted by organizations across the world, especially those with large infrastructure networks, such as public sector entities, transportation organizations and utility firms.

Benefits

  • Reduced risks associated with ownership of assets – anything from unnecessary maintenance costs and inefficiency to accident prevention (explosions at gas plants for example)
  • Improved quality assurance for customers/regulators – where assets play a key role in the provision and quality of products and services
  • New business acquisition – stakeholders gain confidence from the knowledge that a strategy is in place to ensure assets meet the necessary safety and performance requirements
  • Supports international business growth – demonstrating that the requirements of an internationally recognized asset management system are being met