Introduction

This document specifies requirements for the establishment, implementation, operation, maintenance and improvement of a management system for asset management, referred to as an “asset management system”.

This document can be used by any organization of any size and type. The organization determines to which of its assets this document applies, taking into account its legal, regulatory and contractual requirements. This document can be applied to all types of assets both physical and non-physical.

This document is primarily intended for use by:

— those involved in the establishment, implementation, operation, maintenance and improvement of an asset management system;
— those contracted or involved in delivering asset management activities and service providers;
— internal and external parties involved in assessing an organization’s ability to meet asset management system requirements.

The order in which requirements are presented in this document does not reflect their importance nor imply the order in which they are to be implemented.

General information on asset management, and information on the terminology applicable to this document, is provided in ISO 55000.

Further guidance regarding the application of the requirements in this document is provided in ISO 55002.

Additional guidance on specific elements of the asset management system as specified in this document is provided in ISO/TS 55010 (alignment between financial and non-financial functions of the organization), ISO 55012 (people involvement and competence) and ISO 55013 (management of asset data).

Guidance on development of public policy to enable asset management is provided in ISO 55011.

There are some important principles associated with asset management, including:

— value: asset management focuses on the value assets provide to the organization over time;
— alignment: asset management aligns financial, technical and operational decisions with the organizational objectives, promoting vertical and horizontal coordination;
— leadership: leadership and sustained commitment at all levels are crucial for successful asset management.

The primary outcomes of asset management are the realization of value and the achievement of organizational objectives. There are also some characteristics that result from the implementation of a systematic approach to asset management, including the following:

— assurance: asset management provides better organizational oversight and accountability;
— adaptability: asset management enables organizations to adapt more rapidly and effectively to changes in internal and external context;
— sustainability: asset management promotes long-term thinking, considering future impacts, risks, uncertainties and opportunities to realize value.

This document has been prepared using the Harmonized Structure for ISO Management System Standards (i.e. identical clause numbers, clause titles, text and common terms and core definitions) intended to enhance alignment among Management System Standards and to facilitate their combined and integrated implementation. This document is therefore designed to enable an organization to align and integrate its asset management system with related management system requirements.

BS ISO 55001:2024

Asset management. Asset management system. Requirements

Current

Published:

31 Jul 2024