ISO55001:2014

Assets come in all shapes and sizes, but one thing is for certain all organizations have assets. Assets can be a competitive advantage or can drain your organization’s resources. That is why it is important to manage your assets effectively and achieving ISO 55001 certification can do just that. ISO 55001 is especially relevant in industries that are capital intensive, have significant physical assets to manage and have high fixed costs. This can include utilities, heavy and light manufacturing, distribution, construction, property management and transportation. 

ISO 55001 was published in January 2014 and establishes specific requirements for not only implementing and maintaining an asset, but also improving that asset via an Asset management system. It builds upon PAS55 which had a proven track record specifically in the utilities industries. ISO 55001 aims to apply this approach across other sectors allowing all businesses to benefit from it.

It is designed to provide structure and guidance to an Asset Management System (AMS) to manage and mitigate risk, whilst benchmarking performance across all sectors and improving financial performance in line with organizational growth strategies.