ISO 55001:2014 helps provide clear guidance on building an asset management system that brings strategy and day-to-day action together, allowing you to run a more efficient business.

Successful businesses are the ones, who manages their assets to achieve a desired operational performance and profitability. ISO 55001 provides a framework for an asset management system that assists businesses with proactively managing the lifecycle of assets from acquisition to decommissioning. Managing the risks and costs associated with assets and maintaining a beneficial balance between input invested in assets and output achieved for your business can be easily managed with an asset management system.

If your organization has multiple assets to be managed, you’ll know that an efficient asset management strategy, regardless of whether the assets are financial, physical or organizational, should contribute to better operating results.  

What is ISO 55001?

ISO 55001 focuses on helping organisations develop a proactive lifecycle asset management system. This supports optimization of assets and reduces the overall cost of ownership while helping you to meet the necessary performance and safety requirements.

ISO 55001 is an internationally recognised standard for achieving an integrated management system for asset management. 

What does ISO 55001 cover?

ISO 55001 applies to all assets, whether physical, financial, human or intangible, in both the public and private sectors. It is applicable to any type of organisation, large or small, and within in any business sector.

Benefits of ISO 55001?

An asset management system provides a structured, best practice approach to managing the lifecycle of all the assets in your organisation. Below are some benefits of implementing Asset management systems ISO55001 at your workplace.

• Establishing a proactive life- cycle asset management system to realise the value of an organisation’s assets.
• Reduces risks associated with ownership of assets – anything from unnecessary maintenance costs and inefficiency to prevent any uncertainties at your workplace.  Example – accident prevention, etc.
• 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 meets the necessary safety and performance requirements.
• Supports International Business Development – It helps demonstrate that the requirements of an internationally recognised asset management system are successfully implemented and managed.

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