National foreword

This British Standard is the UK implementation of ISO 55000:2014.

The UK participation in its preparation was entrusted to Technical Committee SSM/1/-/2, Asset management.

A list of organizations represented on this committee can be obtained on request to its secretary.

This publication does not purport to include all the necessary provisions of a contract. Users are responsible for its correct application.

Compliance with a British Standard cannot confer immunity from legal obligations.

This British Standard was published under the authority of the Standards Policy and Strategy Committee on 31 January 2014.

Foreword

ISO (the International Organization for Standardization) is a worldwide federation of national standards bodies (ISO member bodies). The work of preparing International Standards is normally carried out through ISO technical committees. Each member body interested in a subject for which a technical committee has been established has the right to be represented on that committee. International organizations, governmental and non-governmental, in liaison with ISO, also take part in the work. ISO collaborates closely with the International Electrotechnical Commission (IEC) on all matters of electrotechnical standardization.

The procedures used to develop this document and those intended for its further maintenance are described in the ISO/IEC Directives, Part 1. In particular the different approval criteria needed for the different types of ISO documents should be noted. This document was drafted in accordance with the editorial rules of the ISO/IEC Directives, Part 2 (see www.iso.org/directives).

Attention is drawn to the possibility that some of the elements of this document may be the subject of patent rights. ISO shall not be held responsible for identifying any or all such patent rights. Details of any patent rights identified during the development of the document will be in the Introduction and/or on the ISO list of patent declarations received (see www.iso.org/patents).

Any trade name used in this document is information given for the convenience of users and does not constitute an endorsement.

For an explanation on the meaning of ISO specific terms and expressions related to conformity assessment, as well as information about ISO’s adherence to the WTO principles in the Technical Barriers to Trade (TBT) see the following URL: Foreword - Supplementary information

The committee responsible for this document is Project Committee ISO/PC 251, Asset management.

This corrected version of ISO 55000:2014 incorporates the correction of the numbering of definitions 3.2.4 to 3.2.7 and corresponding cross-references.

Introduction

0.1 Purpose

This International Standard provides an overview of asset management and asset management systems (i.e. management systems for the management of assets). It also provides the context for ISO 55001 and ISO 55002.

International cooperation in the preparation of these standards has identified common practices that can be applied to the broadest range of assets, in the broadest range of organizations, across the broadest range of cultures.

0.2 Relationship with other standards

ISO 55001, ISO 55002 and this International Standard relate to a management system for asset management, which is referred to as an “asset management system” throughout the three standards.

ISO 55001, ISO 55002 and this International Standard can be used in combination with any relevant sector or asset type-specific asset management standards and technical specifications. ISO 55001 specifies requirements for an asset management system, while the other standards detail sector- specific, asset-specific or activity-specific technical requirements or give guidance on how ISO 55001 should be interpreted and applied within a specific sector or to particular asset types.

0.3 Target audience

This International Standard is primarily intended for use by:

those considering how to improve the realization of value for their organization from their asset base
those involved in the establishment, implementation, maintenance and improvement of an asset management system
those involved in the planning, design, implementation and review of asset management activities; along with service providers.

0.4 Benefits of the standards

The adoption of ISO 55001, ISO 55002 and this International Standard enables an organization to achieve its objectives through the effective and efficient management of its assets. The application of an asset management system provides assurance that those objectives can be achieved consistently and sustainably over time.

Annex A provides additional information on areas related to asset management activities.

Annex B shows the relationship between key elements of an asset management system.

1 Scope

This International Standard provides an overview of asset management, its principles and terminology, and the expected benefits from adopting asset management.

This International Standard can be applied to all types of assets and by all types and sizes of organizations.

NOTE 1 This International Standard is intended to be used for managing physical assets in particular, but it can also be applied to other asset types.

NOTE 2 This International Standard does not provide financial, accounting or technical guidance for managing specific asset types.

NOTE 3 For the purposes of ISO 55001, ISO 5500 and this International Standard, the term “assetmanagement system” is used to refer to a management system for asset management.

2 Asset management

2.1 General

2.2 Benefits of asset management

2.3 Assets

2.4 Overview of asset management

2.5 Overview of the asset management system

2.6 Integrated management systems approach

3 Terms and definitions

3.1 General terms

3.2 Terms relating to assets

3.3 Terms relating to asset management

3.4 Terms relating to asset management system

Bibliography

BS ISO 55000:2014

Asset management - Overview, principles and terminology

Published:

31 Jan 2014

Withdrawn:

5 Jul 2024